Wednesday, January 20, 2010

Norden Buys Three Tankers From Dunya Shipping

Faith in Rates Recovery Leads to Fleet Investment
Shipping News Feature

DENMARK – Danish shipping line Norden has revealed that it is to purchase three additional product tankers to add to its fleet. The purchase reflects the bulk carrier and tanker operator’s faith that shipping rates are recovering and the investment will “…generate favourable returns as freight rates gradually normalise.”

The three vessels, the m/t’s Gan-Sabre, Gan-Shield and Gan-Spirit, are to be sold by the current owner, Turkish-based Dunya Shipping, for a reported total price of $79 million.

The three ships are all of 51,200 dwt and were built by Korea’s STX Shipbuilding in 2007-08. They are to be renamed and will sail under the flag of Singapore.

Once the transfer is complete Norden’s shall have a fleet containing some 31 tankers and 130 dry cargo-carriers, with an additional 84 vessels on order.

(pic: The Gan Sabre, to be renamed the Nord Sea)