Norway’s NRP Project Finance has wrapped up the sales of two older ships for healthy returns.
The company, part of Ness, Risan & Partners, said its ownership vehicle Kuo DIS has offloaded the 1,471-teu feeder container ship Kuo Lung (built 1998), which was acquired in 2012 together with four sisters.
The sale of Kuo Lung concludes this project, having generated an internal return of 14%, NRP said.
NRP Project Finance acted as the sole arranger for Kuo DIS.
The vessel was chartered to France’s CMA CGM in February for 12 weeks at $13,000 per day.
It has been operated by Conbulk Shipping of Greece.
Brokers put the price at $3.25m, against a VesselsValue assessment at $4.6m, down from $21m a year ago in record container ship markets.
The 16,600-dwt heavylift vessel Ocean Globe (built 2010) has also been disposed of.
This ship was bought in 2018 and the sale concludes NRP’s US Heavy Lift IS project.
The Ocean Globe was operated by Intermarine in the US.
The project has generated an internal rate of return of about 26% per year.
The ship has been renamed St Sofia under unknown ownership.
VesselsValue assesses it as worth $15.3m, down from $19.5m a year ago.
NRP is now listed with six ships under its sole ownership, including three bulkers, a tanker and a car carrier.
Three handysize bulkers and an LR1 tanker are controlled through joint ventures, and a handysize boxship and handysize bulker are due for delivery from Chinese yards this year.
