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Nordic Tankers A/S divests chemical tanker activities; announces name change and reorganization

March 29/2012

(reuters) -- Nordic Tankers A/S announced that on March 27, 2012, it has entered into a conditional agreement to sell its chemical tanker activities, including the organization for USD 30 million to a company controlled by Triton, a European investment firm.

The sale is a result of discussions between the Company and its banks driven by the debt position in the Company and continuing low freight rates. Nordic Tankers A/S will in the future be a tonnage provider with a fleet of six product tankers in the range between 37,000 and 73,000 dwt (deadweight tonnage).

A moratorium on deferred and ordinary instalments payable until March 31, 2013 has been agreed on for the product tanker fleet subject to certain conditions. The listed Company will change its name from Nordic Tankers A/S to Nordic Shipholding A/S.
Author:Anna Larionova
Category:General News
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