The buyer has not been able to submit this final approval, and consequently, the sale will not take place. Norden will then operate the 6 vessels itself as they are being delivered from the yard.
The agreement comprised 6 newly built sister vessels of 32,700 dwt from a Chinese shipyard. The first 5 vessels will be delivered from the yard during 2011, and the last ship in 2012
19 Handysize vessels will now be delivered to Nordens core fleet in 2011-2013: 16 owned newbuildings from Korean, Vietnamese and Japanese shipyards as well as 3 long-term chartered vessels mainly from Japanese shipyards.
The cancelled agreement will not influence Norden’s expectations for 2011.