Norden Acquires One More MR

zoomIllustration; Image Courtesy: Norden Danish shipping company Dampskibsselskabet Norden A/S revealed it has bought a 2010-built MR product tanker.  The Japanese-built vessel has a cargo capacity of 48,000 tons and is expected to join Norden’s owned fleet in July 2017. The purchase represents Norden’s second acquisition of an MR product tanker within a month. Earlier in June, the company purchased a 2009-built MR product tanker which will be renamed Nord Pearl. With the purchase of the MR product tanker, Norden once again takes advantage of the current reduced tonnage prices to increase the capacity and position the tanker business towards possible market improvements after 2017, Jan Rindbo, Nordens CEO, commented. The vessel will, as the other Norden product tankers, be operated in Norient Product Pool, which over the years has managed to consistently generate earnings above market average, Rindbo added. At the end of first quarter of 2017, Norden’s tanker fleet comprised a total of 36 vessels – 25 MRs with a cargo capacity of 45,000-50,000 tons and 11 Handysize vessels with a cargo capacity of 35,000-37,000 tons. 19 tankers are owned by Norden while the rest are chartered vessels.