Nordic Shipholding lists MR tanker for sale as merger talks stall

Danish tanker owner Nordic Shipholding has listed 2007-built, 38,400 dwt MR tanker Nordic Hanne for sale.

The company said the move is in line with management’s strategy to secure longer term financing in the renegotiation of the group’s loan facilities.

The sale should generate around $10m, with VesselsValue placing a market value on the vessel at $10.7m.

Nordic Shipholding commenced merger discussions with a potential entity in late 2019, however the process has been stalled due to the diminished financial and economic visibility that have evolved from the Covid-19 pandemic.

Nordic Shipholding said the five tankers in its fleet will continue to be commercially deployed on a pool basis for the rest of this year and the company continues to pursue growth and potential consolidation opportunities that are accretive to the company.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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