Oslo: In its ongoing cost-cutting Odfjell has sold three small tankers. The Bow Balearia, Bow Bracaria and Bow Brasilia, all 5,800 dwt, built 1997/1998, represented the last remaining vessels within Odfjell’s trade in the European short sea market, deemed by the company as an unprofitable trade.
“The sales will result in an accounting loss, but will have a positive effect on the group’s liquidity and profitability,” Odfjell said in a statement to the Oslo Bors.
The identity of the buyers of the three ships has not been revealed, nor the price.
