"We've achieved a lot with our acquisition of Nordic Tankers"

This might be a surprising statement from Terje Askvig, consultant at Triton, which now has hard-won knowledge after its investment in Nordic Tankers. But Triton is patient and optimistic, Askvig tells ShippingWatch in an interview.

BY TOMAS KRISTIANSEN

Published: 26.01.18 at 11:02

After first investing in Herning Shipping and later in Nordic Tankers back in 2012, there has been an onslaught of annual deficits and needed capital injections from the owner – North European investment fund Triton. Nordic Tankers did not achieve a black bottom line until it booked a slight profit in 2015.

The overall investment horizon of five to seven years is nearing an end, meaning that Triton's venture onto the chemical tanker market thus far has proven to be a challenging foray into shipping, only barely fulfilling the equity fund's legitimate desire to have a profitable investment.

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