ShippingWatch

Equity fund to Nordic Tankers: Be efficient and expand!

Nordic Tankers owner, private equity fund Triton, has an ambitious growth plan for the shipping company. ShippingWatch has learned that the shipping company was recently looking at Indonesian BLT, which has a fleet of 70 ships.

Investment fund Triton has made an ambitions growth plan for the shipping company together with the company's management. Though the tank and chemical markets remain fragile, the wealthy fund is ready with funding for the right projects, so that the shipping company, which consists of Herning Shipping and Nordic Tankers, can expand upon its current fleet of 120 ships. Nordic Tankers has made the first move in its expansion plans with the recent acquisition of four small tankers from Clipper, but the ambitions go way beyond that.

ShippingWatch has learned from several sources that Nordic Tankers was recently looking at financially struggling Indonesian tank shipping company BLT, with a fleet of 70 ships. Nothing came of it, but the shipping company's size apparently didn't deter Nordic Tankers. However, Nordic Tankers' executive management, headed by CEO Tommy Thomsen, does not wish to confirm the proceedings, only disclosing that the shipping company is "very active" to fulfill its expansion plans.

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