Tufton Oceanic Assets was profitable in the third quarter as it continued to build up its fleet.
London-listed Tufton Assets reported an operating profit of $0.018 per share for the period.
The company, which has now invested its IPO proceeds and is eyeing further growth, paid a dividend of $0.0175 per share for the quarter.
The diversified shipowner says the run rate yield from its fleet is in excess of 11% after management fees and capex.
After listing late last year, Tufton Assets built up a presence in the container, tanker and dry cargo markets.
East Riding of Yorkshire Council has today reported a larger 11.81% stake in Tufton Assets, up from 10.99% previously.
Pictet Asset Management, South Yorkshire Pensions Authority and the West Yorkshire Pension Fund are also major investors in the company.
