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In short, what I can say about the purchases is that we have added 2 good vessels to our fleet of MR tankers. And they are purchased at satisfactory prices. - Senior Projects Manager Mads Pilgaard

Purchase one: Nord Pearl with a cargo carrying capacity of 50,000 tonnes is built at a Korean yard and delivered in 2009.

rudder is conducted with the participation of representatives from the buyer, seller and classification company who monitor the inspection on a screen in the diving boat, says Mads Pilgaard. THE OTHER NEW ACQUISITION Norden’s other newly acquired MR vessel is Nord Integrity, which was delivered from a Japanese yard in 2010. - In contrast to the purchase of Nord Pearl, we already knew the vessel and its Japanese owners as we have had the vessel on time charter since the delivery from the yard in 2010. The vessel has been in commercial operation in Norient Product Pool throughout all the years and we consequently have thorough

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knowledge of the vessel’s earnings capacity, says Mads Pilgaard.

MR tankers. And they are purchased at satisfactory prices, says Mads Pilgaard.

However, since the vessel has not been in technical management by Norden - the Japanese owners took care of that - Norden did not have all the details of the vessel’s technical condition. Before the purchase negotiations were initiated, the vessel was consequently assessed by the Technical Department. The procedures in connection with the delivery - which took place in Vlissingen in the Netherlands - followed the standard with a short stay on board and diving inspection before delivery.

With an age of 7 and 8 years, respectively, they will be able to continue to serve Norden for many years to come.

MANY YEARS LEFT FOR THE VESSELS - In short, what I can say about the purchases is that we have added 2 good vessels to our fleet of

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The vessels have a life expectancy of 20- 25 years, but Norden does not tend to operate vessels which are more than 15 years old. The average age of Norden’s product tankers is low – for MR vessels it is 4.3 years and for Handysize vessels it is 8.3 years.

SOURCE: NORDEN NEWS AUTUMN

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