Atlantica swoops for Latvian Shipping product tanker pair

Atlantica swoops for Latvian Shipping product tanker pair

Oslo-based Atlantica Shipping has reached a deal to acquire a pair of 2007-built MR1 product tankers from Vitol’s Latvian Shipping Company, Allied Shipbroking reports.

The Krisjanis Valdemars and Kandava, both 37,300 dwt and built at Hyundai Mipo, are currently on subs with the sale priced at $11.8m each according to Allied. The price is slightly below the $12m valuation of both vessels by MSI and well below the $13.14m and $12.74m valuation given by VesselsValue.

Atlantica Shipping has six vessels in its fleet according to VesselsValue, made up of four feeder boxships, a supramax bulker, and an MR2 product tanker. It also has a panamax bulker under construction at Jiangsu Hantong in China. The main shareholders of the Norwegian firm are its management team, along with Egon Oldendorff and A.M. Nomikos

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

Related Posts