Fund manager Tufton Oceanic, which earlier said its preference this year is tankers, is sticking to its word.

According to broking sources, the outfit has snapped up the 2003-built suezmax Cape Baxley for US$25.5m.

Yet again Tufton has reached out to German owner Koenig Cie for ships. Last year, Tufton bought two 12-year-old suezmaxes from the same outfit for some US$5m more per ship.