Nordic Shipholding Selling Nordic Ruth Again

After the previous sale of Nordic Ruth fell through, Danish shipowner Nordic Shipholding has entered into a new sale and purchase memorandum of agreement to dispose of the vessel.

As informed, the MR1 chemical/product tanker would be sold for USD 5.8 million.

Nordic Shipholding has not disclosed the name of the purchaser.

“Nordic Shipholding A/S does not expect the sale to have any significant impact on the outlook for 2019,” the company said.

Built in 2000, the 35,800 dwt vessel features a length of 183 meters and a width of 27 meters. Flying the flag of Singapore, the Handysize tanker currently has a market value of USD 5.05 million, according to data provided by VesselsValue.

Until Nordic Ruth is sold, it remains deployed in the UPT Handy Pool, Nordic Shipholding said last week in its Q1 2019 financial update.

During the first quarter of this year, the company managed to return to profit, driven by a significant increase in time charter equivalent (TCE) rates.

Including Nordic Ruth, the shipping company has six product tanker vessels, five Handysize tankers and one LR1.