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Norden sells one handysize tanker, purchases two MRs

Denmark’s Norden has sold one handysize tanker and purchased two MR tankers in anticipation of a positive outlook of increased refinery production to deliver low sulphur fuel for IMO 2020.

Norden said the handysize tanker was delivered to the new owner in late-November 2019 while the two MR tankers were delivered in end-December last year.

The company said it expects a continued strong market well into 2020 as refineries increase production to supply the compliant 0.5% sulphur fuels necessary for the IMO 2020 global sulphur regulation.

“We are driven by the opportunities we see in the market,” said Jan Rindbo, ceo of Norden, on the continued sale and purchase activity. He added: “In order to remain an agile and trading oriented company, it is vital to continuously optimise our fleet.”

Norden operates 59 tankers through the Norient Product Pool consisting of 23 owned vessels, 23 chartered vessels and 13 commercially managed vessels.

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