Stainless Tankers of Norway is bolstering its fleet of chemical carriers in a $27m deal for two secondhand ships.
The Oslo-listed outfit backed by UK-based Tufton Investment Management will be adding a pair of unnamed 2005-built J19 stainless steel units, intending to close the deal this month.
To fund the deal, Stainless Tankers has upsized its existing loan facility by the amount of the purchase price.
The Alex Karakassis-led company currently sports a fleet of seven ships. Five ships are trading in Womar’s pool with the remaining two currently employed under time charter agreement.
In April, Tufton carried out a $67m private placement in the company to help finance the first seven ships, built between 2007 and 2009.
