Odfjell, the owner of Norwegian chemical tankers, has sold two chemical tankers built in 2011 for over $62 million. This action is aimed at rebuilding and renewing the company's fleet.
Details of the Tanker Sale
The tankers Bow Elm and Bow Lind, with capacities of 46,098 and 46,047 deadweight tons respectively, have been sold jointly and based on an approved condition. These two tankers, which belong to Odfjell's coated tanker fleet, were built in South Korea by SLS Shipbuilding. Currently, the buyer of these tankers has not been disclosed, and Odfjell has not publicly confirmed the deal yet.
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Odfjell's Fleet Renewal Program
The sale of these two tankers is part of Odfjell's extensive fleet renewal program. Earlier this year, the company made an agreement to purchase four new chemical tankers with a capacity of 40,000 tons from a Japanese owner for approximately $290 million. These tankers are under construction at Kitanihon Shipbuilding and are expected to be added to Odfjell's fleet between 2027 and 2029.
Odfjell is also renewing its fleet through long-term leases and the sale of older tankers. The company's extensive program includes over 20 new tankers, including owned and chartered tankers, aimed at increasing the ratio of modern and fuel-efficient vessels in its deep-sea fleet.
The recent sale of these two tankers helps eliminate two vessels nearly 15 years old while generating over $62 million in gross revenue for the company. This action reflects Odfjell's commitment to maintaining and enhancing its fleet against the challenges of the oil and energy market.
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