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Buyer and seller shared motivation in Nordic Tankers sale

With the sale of Nordic Tankers, equity fund Triton wanted to support the consolidation in the market. The Japanese buyer also points to consolidation as a factor. With the sale, Triton's portfolio no longer includes shipping.

Photo: MOL Nordic Tankers

Consolidation in the tanker market is one of the reasons that equity fund Triton, after seven years of ownership, decided to sell off chemical tanker carrier Nordic Tankers for an undisclosed sum, says Terje Askvig, senior industry expert at Triton and former chairman of Nordic Tankers, in a reply to ShippingWatch.

"Triton has had ownership of Nordic Tankers since 2012 – a period in which the shipping industry and the chemical tanker market have experienced significant challenges. Triton's aim from the beginning was to support Nordic Tankers' role in the market consolidation, and we are happy that this agenda has been completed, seeing as the company has got a new, strategic owner," writes Askvig.

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