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Sunday, April 22, 2018

NORDEN Adds Another MR Tanker

Maritime Activity Reports, Inc.

June 21, 2017

A NORDEN MR product tanker (Photo: NORDEN)

A NORDEN MR product tanker (Photo: NORDEN)

 Denmark based NORDEN said it has purchased a seven-year-old Japanese-built MR product tanker, its second vessel acquisition within a month.

The purchase follows the acquisition of a 2009-built MR product tanker to be named Nord Pearl.
“With the purchase of the MR product tanker, NORDEN once again takes advantage of the current reduced tonnage prices to increase the capacity and position the tanker business towards possible market improvements after 2017,” said NORDEN CEO, Jan Rindbo.
The 2010-built vessel has a cargo capacity of 48,000 metric tons and is expected to join NORDEN’s owned fleet in July 2017.
“The vessel will, as the other NORDEN product tankers, be operated in Norient Product Pool, which over the years has managed to consistently generate earnings above market average,” Rindbo added.
At the end of first quarter of 2017, NORDEN’s tanker fleet consisted of a total of 36 vessels, including 25 MRs with a cargo capacity of 45,000-50,000 metric tons and 11 Handysize vessels with a cargo capacity of 35,000-37,000 metric tons. Of the 36 vessels, 19 tankers are owned by NORDEN while the rest are chartered vessels. All are operated through Norient Product Pool (NPP).
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