Stainless Tankers readies double sale

Stainless Tankers of Norway has moved to offload two of its nine vessels.

The Oslo-listed outfit backed by UK-based Tufton Investment Management is selling the 2005-built J19 stainless steel units Monax and Marmotas – the oldest in its fleet.

Both ships, currently estimated by VesselsValue at about $33.7m in total, were acquired a year ago in a $27m deal funded by upsizing the company’s existing loan facility.

The Andrew Hampson-led chemical tanker pureplay logged a third-quarter net profit of $4.7m or $0.35 per share. As of the end of September, the company’s fleet market value was $168.9m.

The fleet is managed by Tufton and trades in the Womar pool owned by Blue Ocean Partners, which anchored Stainless Tankers’ IPO in March 2023 as the largest investor.