NORDEN adds another MR tanker to its fleet

By Vessels

NORDEN has purchased a Japanese-built MR product tanker from 2010. The purchase is NORDEN’s 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.

NORDEN adds another MR tanker to its fleet
Caption: A NORDEN MR product tanker - Image courtesy of NORDEN

CEO Jan Rindbo in comment: “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. 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.”

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

36 vessels in NORDEN’s tanker fleet

At the end of first quarter of 2017, NORDEN’s tanker fleet consisted of a total of 36 vessels – 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).

Source: NORDEN