M Sea Capital acquires Norden tanker pair

M Sea Capital acquires Norden tanker pair

Danish owner Norden, which has been pursuing a strategy of becoming increasingly asset light, has sold two 2008-built handysize tankers according to brokers.

Cyprus-headquartered M Sea Capital has paid $13m each for the CSSC-built Nord Nightingale and Nord Snow Queen, according to Seasure Shipbroking and Advanced Shipping & Trading.

VesselsValue puts a fair market value on the ships at $11.9m and $12.5m respectively, although it is believed that the deal includes a 2+1 years time charter back to Norden at $13,400 per day.

Last month, Norden confirmed the sale of four dry bulk carriers. It sold 2002-built panamax vessels Nordkap and Nordpol, 2007-built supramax vessel Nord Express and 2011-built handysize vessel Nord Mumbai.

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.

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