Norden sells product tanker for $14m

Norden sells product tanker for $14m

Malta’s Valloeby Shipping has taken the 10-year-old, Chinese built Nord Thumbelina product tanker from Norden for $14m. The Chinese-built 38,461 dwt ship is due to have a drydocking next month.

Denmark’s Norden has been changing strategies when it comes to tankers, it revealed earlier this month when detailing its Q2 results. Norden’s ceo Jan Rindbo explained the company has “adjusted our exposure to a tanker market where the rates, earlier than expected, have dropped significantly”.

Norden said it its optimising earnings in a market that is expected to be weaker than it has been over the past 18 months.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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