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Norden sells product tanker for $14m

Norden sells product tanker for $14m
Malta’s Valloeby Shipping has taken the 10-year-old, Chinese built Nord Thumbelina product tanker from Norden for $14m.

Malta’s Valloeby Shipping has taken the 10-year-old, Chinese built Nord Thumbelina product tanker from Norden for $14m. The Chinese-built 38,461 dwt ship is due to have a drydocking next month.

Denmark’s Norden has been changing strategies when it comes to tankers, it revealed earlier this month when detailing its Q2 results. Norden’s ceo Jan Rindbo explained the company has “adjusted our exposure to a tanker market where the rates, earlier than expected, have dropped significantly”.

Norden said it its optimising earnings in a market that is expected to be weaker than it has been over the past 18 months.

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