TNG Snaps Up Tanker Resale Duo
- Business & Finance
Croatian tanker operator Tankerska Next Generation (TNG), part of Tankerska Plovidba, has used some of the cash raised from the recent IPO and bank debt to buy newbuild contracts for two 50,000 dwt eco-tankers at South Korea’s Hyundai Mipo Dockyard.
The vessels are scheduled for delivery in April and July 2015, and will be managed by Tankerska Plovidba.
”The price to be paid for the two acquisitions is based on fair market valuations and in-line with the IPO proposition,” TNG said in a release.