Stainless Tankers of Norway has moved to offload two of its nine vessels.
The Oslo-listed outfit backed by UK-based Tufton Investment Management is selling the 2005-built J19 stainless steel units Monax and Marmotas – the oldest in its fleet.
Both ships, currently estimated by VesselsValue at about $33.7m in total, were acquired a year ago in a $27m deal funded by upsizing the company’s existing loan facility.
The Andrew Hampson-led chemical tanker pureplay logged a third-quarter net profit of $4.7m or $0.35 per share. As of the end of September, the company’s fleet market value was $168.9m.
The fleet is managed by Tufton and trades in the Womar pool owned by Blue Ocean Partners, which anchored Stainless Tankers’ IPO in March 2023 as the largest investor.
Energy News Beat