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Nordic Tankers News

08 Jan 2019

Japan's MOL Acquires Nordic Tankers

Japanese shipping giant MOL's Chemical Tankers unit has agreed to take full control of Triton-owned Nordic Tankers. The deal expected to close in February 2019.Denmark-based Nordic Tankers said in a press release that its current sole shareholder Triton agreed to sell and deliver 100% of shares to MOL Chemical Tankers (MOLCT) and MOLCT buys and takes delivery of 100% of shares of NT from Triton, in each case together with all rights attached to them on and with effect from the closing date.Nordic Tankers will be renamed MOL Nordic Tankers A/S and all existing management and employees will remain in the company.MOLCT currently operates 56 chemical tankers…

17 Dec 2018

Danish Compatriots Test Emissions Monitoring Solution

Danish shipping company Nordic Tankers, Dania Ship Management and Danfoss IXA have been cooperating on testing new innovative technology for monitoring emissions on an ongoing basis.The chemical tanker company hailed that the result is a front runner solution to ensure global enforcement of the IMO’s requirements for sulphur emissions way before any legislation is pushed through.“The sensor equipment from Danfoss IXA is an innovative piece of technology that enables ship owners to continuously prove compliance with the IMO’s requirements for sulphur emissions. At Nordic Tankers, together with our partners, we aim to be front-runners in supporting the development of our industry worldwide…

02 Jan 2018

Crystal Nordic Sold to Essberger Tankers

Nordic Tankers and Embarcadero Maritime (a joint venture between Borealis Maritime and KKR) have signed and closed an agreement to sell the jointly held company Crystal Nordic to John T. Essberger in Hamburg, a leading owner and operator of chemical tankers in Europe. Crystal Nordic was established following the combination of Nordic Tankers’ inter-European stainless steel chemical tanker business with Crystal Pool in 2015. The parties have agreed not to disclose any financial information. Crystal Nordic is a Danish headquartered chemical tanker operator, owning 14 ships between 4,000 and 12,000 DWT, serving customers primarily in Northern Europe.

15 Dec 2017

Clipper Fleet, Dania Ship Announce Partnership

Dania Ship Management has announced plans to extend ship management capabilities to include dry cargo in a partnership agreement with Clipper Fleet Management, part of the Clipper Group. The partnership, which strengthens the commitment by V.Group, Nordic Tankers and Clipper Group to create a compelling platform for Copenhagen based ship management solutions, will see the transfer of 28 shore-based employees and around 1,000 seafarers to Dania Ship Management. With access to V.Group’s global marine services offering and Dania’s ship management platform, the partnership will support Clipper Group to deliver high quality and efficient management of their fleet.

10 Nov 2015

Nordic Tankers joins forces with Borealis Maritime

Nordic Tankers and Borealis Maritime Ltd has announced the intention to form a jointly held company, Crystal Nordic A/S – a strong player in the short-sea, ice class chemical tanker trade in the Baltic and North-Western European market. Crystal Nordic A/S will be owned on a 50/50 basis by Nordic Tankers and Embarcadero Maritime (Borealis Maritime). The new company will take over the respective ice classed stainless chemical tankers businesses from its owners, which currently operate under the Nordic Tankers and Crystal Pool trade names. All other Nordic Tankers and Borealis Maritime operations and ventures are unaffected by the new partnership.

24 Mar 2015

Denmark's Promising Future

Photo: Maersk

One of the world’s leading seafaring nations, Denmark has maritime roots stretching back more than 1,000 years. While its history is strong, the Danish market has its collective eyes squarely on the future. In its quest for continued relevance, it seeks to continue delivering innovative technologies, as well as championing green shipping and offshore initiatives. Denmark’s maritime sector fosters engineering expertise within shipping and offshore industries, as well as maritime and technological services.

27 May 2014

Thome Appoints Tanker Fleet COO

Steen Nygaard Madsen (Photo: Thome)

Thome Ship Management has added to its senior management tier by appointing Steen Nygaard Madsen as Chief Operating Officer (COO) for the Thome Ship Management Tanker Fleet. Madsen will take up the position on June 1 this year, bringing with him experience in running ships, stemming from his seagoing career as well as his time with A.P Moller in Copenhagen where he was operationally responsible for a large section of its fleet. Previously, he was also Technical Director for Nordic Tankers/Herning-Shipping .

03 Apr 2014

Nordic Tankers to Pay 67th Consecutive Quarterly Dividend

NAT Tankship: Image courtesy of NAT

The Board of Nordic American Tankers (NAT) Limited announces that it has declared a cash dividend of $0.23 per share, the 67th consecutive quartely dividend to be paid to shareholders. The record date is May 15, 2014 and the payment date is on or about May 25, 2014. NAT explain that they have previously informed investors about the dividend in kind (shares in Nordic American Offshore - NAO) that will be awarded to NAT shareholders having NAT shares above a certain threshhold. The dividend is expected to be equivalent to about $0.13 per NAT share.

13 Feb 2014

Kopernicki joins BMT Group Board

Jan Kopernicki

BMT Group Ltd., an international design, engineering and risk management consultancy, has announced that Jan Kopernicki has joined the Board of Directors as a nonexecutive Director. Jan has extensive experience in the shipping industry, with his career at Shell spanning over 40 years. As Head of Shipping until his retirement in 2011, his global team was responsible for Shell’s portfolio of oil tanker, LPG and LNG vessels and for advising on safety and environmental aspects of shipping.

13 Nov 2013

IMO Sec-Gen Keynotes International Maritime CSR Conference

CSR Conference: Photo courtesy of Maritime Denmark

More than 200 stakeholders from the maritime world gathered at the Culture Yard in Elsinore, Denmark, where the World Maritime University, in collaboration with the Danish Shipowners' Association, hosted a major international conference focusing on maritime CSR (Corporate Social Responsibility). The conference was part of the thrust to formulate maritime CSR policies and to implement them by self-regulation, an area in which analysts consider the shipping industry has been slow to adopt in comparison with others.

31 Oct 2013

IMO Sec-Gen to Address Upcoming Denmark CSR Conference

Danish Shipowners' Association in collaboration with the World Maritime University; BIMCO; The Nippon Foundation and the Japanese International Transport Institute will focus on maritime corporate social responsibility (CSR) at the Culture Yard in Helsingør on Tuesday November 12, 2013. The conference, entitled " Northern European Shipping CSR Symposium - Making the Business Case for a Sustainable Shipping Industry " derives in part of the Rio +20 sustainable global development based on voluntary participation by private companies . Focus will be both theoretical and practical on how European companies and organizations engaged in CSR and on the triple bottom line, which consists of profit but also social and environmental aspects .

03 Sep 2013

AET Sign Up for ShipServ TradeNet Services

ShipServ, a leading marine and offshore e-marketplace, has been contracted by tankship operators AET to provide  procurement software services for its fleet operations. AET will connect to ShipServ through its current ABS Enterprise system software suite. The global company’s procurement activities are based in Singapore and responsible for around 60 in-house managed vessels including VLCCs, Suezmax and Aframax tankers. “We are delighted to welcome such a major tanker owner-operator to the ShipServ community. To bring such a highly-respected company onto TradeNet really demonstrates that ShipServ is the preferred partner in this sector. ShipServ now has over 15 tanker owners and operators trading on ShipServ TradeNet.

26 Aug 2013

SHIPPINGInsight 2013 Announces Agenda and Speaker List

The SHIPPINGInsight conference producers have finalized the agenda and confirmed speaker list for the 2013 Fleet Optimization Conference, scheduled for Oct. 22-24 at the Sheraton Stamford Hotel in Stamford, Conn. “The theme for this year’s conference is ‘Connect and Engage,’” said conference co-producer Frank Soccoli. “We are bringing together an impressive lineup of speakers, moderators, panelists, sponsors, exhibitors and delegates representing all segments of the shipping industry. New for 2013 is an extra LNG Workshop, which will take the form of a roundtable discussion of experts to consider the barriers, challenges, solutions and best practices for achieving widespread adoption of LNG as a marine fuel. The workshop is free for all registered delegates.

27 Jun 2013

Registration Open for SHIPPINGInsight Fleet Optimization Conference

The producers of the SHIPPINGInsight Fleet Optimization Conference have announced that online registration is now open. Following a successful inaugural conference in 2012, the 2013 event will take place October 22-24 at the Sheraton Stamford Hotel in Stamford, Conn. It will bring together senior executives from shipowners, ship managers, classification societies, regulatory bodies, consultancies and suppliers to address the pressing issues facing fleet operators in the current business climate. The confirmed keynote speakers for the conference are Anthony Chiarello, president and CEO of Tote, Inc., and Yasushi Nakamura, executive vice president of Class NK.

06 May 2013

SHIPPINGInsight 2013 Agenda Published

SHIPPING Insight

The SHIPPINGInsight producers announced that the agenda for the 2013 Fleet Optimization Conference has been finalized. Now in its second year, the 2013 SHIPPINGInsight Conference addresses the challenges, solutions, technologies and best practices for improving efficiency in ship and fleet operations. It will take place Oct. 22-24 at the Sheraton Stamford Hotel in Connecticut. Keynote speakers will be Anthony Chiarello, CEO of Tote, Inc., and Yasushi Nakamura, executive vice president of ClassNK.

22 Apr 2013

FSL Trust Reports $23 Million 1QFY13 Revenue

FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust, announced the financial results of FSL Trust for the quarter ended 31 March 2013. Revenue for 1QFY13 declined by 11.6% to $23.0 million (USD) compared to the corresponding quarter last year. In 1QFY13, all the trust’s vessels continued to generate revenue from their respective employments on bareboat charters and time charters as well as in the ‘Nordic Tankers 19,000 Stainless Steel Pool’ (Nordic Pool). On a bareboat charter/bareboat charter equivalent (BBCE) basis, revenue fell 4.0% to $19.9 million compared to 1QFY12. The rentals received from 20 vessels leased on long-term bareboat charters continued to support the overall earnings of FSL Trust.

26 Mar 2013

Chiarello to Keynote 2013 SHIPPINGInsight

Photo: Shipping Insight

Anthony Chiarello, president and CEO of TOTE, Inc., will be the keynote speaker at the SHIPPINGInsight 2013 Fleet Optimization Conference, Oct. 22-24 in Stamford, Conn. Prior to TOTE, Inc., the largest of five operating groups owned by Seattle-based Saltchuk Resources, Inc., which includes five companies organized in maritime, logistics and ship management lines of business, Chiarello, was the COO and executive vice president at NYK Logistics (Americas), Inc. Prior to NYK, Chiarello was with the AP Moller/Maersk organization for 16 years.

25 Mar 2013

FSL Trust: 2012 Was a 'Dismal' Year for Shipping

"The industry witnessed another dismal year as weakness in freight rates and asset values persisted in 2012. This resulted in a spate of defaults, restructurings and bankruptcies as shipping companies struggled with the poor market conditions. Unfortunately, FSL Trust was not spared from the unprecedented downturn. FSL Trust reported full year 2012 revenue of US$106.1 million, which was 4.2 per cent lower compared to the previous year. Net cash generated from operations declined by 25.4 per cent to US$47.6 million. During the year, we conserved capital and strengthened our balance sheet, increasing our cash reserves by US$5.2 million to US$37.5 million.

19 Feb 2013

Nordic Shipholding to Exercise Divestment Option

Nordic Shipholding A/S decides to exercise its option agreement with Nordic Tankers Shipowning A/S and Clipper Group A/S. The option agreement referred to was dated 28, March 2012. In connection with the divestment of the chemical tanker activities in Nordic Shipholding A/S as referred to in company announcement no. 1/2012 and no. 5/2012 a vendor note with a total principal of USD 20,000,000 was issued by Nordic Tankers Shipowning A/S in favour of the company. The option allows Nordic Shipholding A/S to assign the vendor note to Clipper Group A/S against the termination of the company's obligations towards Clipper Group A/S in an aggregate amount of USD 15,000,000. Exercising the option will result in a loss of approximately USD 5 million for 2012.

22 Nov 2011

Nordic Tankers: Weak Rates Drive Revenues Down

In its summary of interim report Q3 2011, Nordic Tankers said that in the third quarter of 2011 the time charter equivalent (TCE) revenue dropped back to the low levels of the first quarter of 2011. The main reason was the continued weak freight rates, a result of low general market activity combined with a slow summer market in the first two months of the quarter. EBITDA was $0.7 million in Q3 2011, down from $4.8 million in Q2 2011. Nevertheless compared to the first nine months of 2010 both revenue and EBITDA have developed positively, the primary reason being an improved leverage of the cost base. Year to date the TCE revenue in Nordic Tankers increased by $23.5 million to $74.1 million compared to the same period in 2010 ($50.6 million).

13 Mar 2012

FSL Trust Takes Redelivery of Two Chemical Tankers

Singapore - FSL Trust Management Pte. Ltd. (“FSLTM ”), as trustee-manager of First Ship Lease Trust (“FSL Trust”) announced that, as of March 10, the remaining two 19,900 dwt stainless steel chemical tankers, previously leased to the subsidiaries of Berlian Laju Tanker Tbk, have been redelivered to FSL Trust. The chemical tankers - ‘Pujawati’ and ‘Prita Dewi’ - will be renamed ‘FSL London’ and ‘FSL Tokyo,’ respectively. FSLTM intends for all the three redelivered chemical tankers to be deployed on revenue service as soon as possible, and the tankers are expected to join the 'Nordic Siva' pool after an interim period of commercial management under Nordic Tankers Management A/S.

24 Apr 2012

FSL TRUST: Vessel Portfolio Positioned for Stability, Opportunity

(Source: FSL)

SINGAPORE – FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust, announced the financial results of FSL Trust for the quarter ended 31 March 2012. Revenue for 1QFY12 rose $2.2 million or 9.3% year-on-year to $26.1 million. The net increase in revenue was contributed by the full quarter lease revenue from the two vessels leased to TORM A/S which were acquired in June 2011, as well as higher freight income from the vessels trading in the spot market.

30 Apr 2012

Nordic Shipholding Sells Chemical Tanker Activities

Nordic Shipholding A/S completes sale of chemical tanker activities. In continuation of company announcement no. 1/2012 published via NASDAQ OMX on 27 March 2012, Nordic Shipholding A/S (formerly Nordic Tankers A/S) today has completed the sale of its chemical tanker activities to a company controlled by Triton, a European investment company. The acquiring company has today changed name to "Nordic Tankers A/S".