NORDEN adds another MR tanker to its fleet

21 Jun 2017

NORDEN has purchased a Japanese-built MR product tanker from 2010. The purchase is NORDENís second purchase of an MR product tanker within a month as the Company earlier this month announced the purchase of a 2009-built MR product tanker to be named NORD PEARL.

CEO Jan Rindbo in comment: ďWith 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. 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.Ē

The vessel has a cargo capacity of 48,000 tonnes and is expected to join NORDENís owned fleet in July 2017.

36 vessels in NORDENís tanker fleet
At the end of first quarter of 2017, NORDENís tanker fleet consisted of a total of 36 vessels Ė 25 MRs with a cargo capacity of 45,000-50,000 tonnes and 11 Handysize vessels with a cargo capacity of 35,000-37,000 tonnes. 19 tankers are owned by NORDEN while the rest are chartered vessels. The vessels are operated through Norient Product Pool (NPP).


A Norden MR product tanker. Image by NORDEN

NORDEN press release