Norden was due to take delivery Friday of the first of six new MR product tankers from Imabari Shipbuilding Co.
Norden was due to take delivery Friday of the first of six new MR product tankers from Imabari Shipbuilding Co. The most recent addition to Norient Product Pool (NPP) managed fleet ? the 48,006 dwt tanker was named "Nord Imagination" at a ceremony at Iwagi Zosen Shipyard, one of eight yards in the Seto Inland Sea region, which together form Japan"s leading ship builder, Imabari Shipbuilding.
"Nord Imagination" was due to be handed over on 30th October and will subsequently enter into the NPP. She will go to Singapore on her maiden voyage for one of NPP's regular clients, Norden said.
She is the first in a series of six MR newbuildings, all of which will be given I-names honouring their origin at Imabari Shipbuilding. Her sisterships will all be delivered in 2010 and also enter into NPP upon their delivery.
Norden has chartered each vessel for seven years with purchase options attached.
Speaking in Copenhagen this week, NPP CEO Soren Huscher said that the pool was outperforming the spot market by 150% and the 12-month timecharter market by up to 13%.
NPP operates 60 vessels managed by members Interorient and Norden and will receive another 14 newbuildings.
They include LR1s, MRs and Handysize product tankers.