Canadian tanker firm makes rare buying foray

Canadian tanker firm makes rare buying foray

Canada’s Coastal Shipping, a small Canadian tanker owner, has bought its first ships for many years. Broker sources tell  Splash Coastal has added two 20,000 dwt coated product carriers, ICDAS-09 and sister vessel ICDAS-11, from Turkish owner Icdas Celik Enerji Tersan.

Coastal Shipping is reportedly paying $14.5m each for the two ships.

The deal is a significant upgrade for Coastal Shipping who has four slightly smaller tankers that need to be replaced soon  as the fleet average age is 25 years old.

The primary mission of the outfit is to provide fuel supply services to Canadian Arctic and Labrador coastal ports.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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