NORDEN Sells a Handymax, Buys 2 MR Tankers

Denmark-based NORDEN announced Monday it has sold a Handysize tanker, which was delivered to her new owners in late November 2019, and it purchased two medium range (MR) tankers, which were delivered in end-December 2019.

NORDEN, which said it expects a continued strong market well into 2020 as refineries increase production to deliver the compliant fuels necessary for the IMO 2020 global sulphur regulation, noted it will continue to be active within the sale and purchase of vessels.

“We are driven by the opportunities we see in the market,” said NORDEN CEO Jan Rindbo of the continued sale and purchase activity. “In order to remain an agile and trading oriented company, it is vital to continuously optimize our fleet.”

NORDEN operates 59 tankers through the Norient Product Pool consisting of 23 owned vessels, 23 chartered vessels and 13 commercially managed vessels.