Nordic Shipholding set to turn the key, as merger plan founders

Negotiations regarding a merger of Nordic Shipholding and another partner have crumbled. As a result, the small product tanker carrier will divest its remaining three vessels and turn the key, the company informs.

Knud Pontoppidan, bestyrelsesformand i Nordic Shipholding | Photo: PR / Nordic Shipholding

Nordic Shipholding is about to shut down after discussions with potential merger partners and its creditors surrounding the company's long-term viability have foundered.

"Merger discussions have stalled and in accordance with the Group’s agreement with the lenders, management has put in place a process to sell the Group’s three remaining vessels in an orderly fashion," writes Nordic Shipholding in a stock exchange announcement published Monday.

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