Norwegian ship investment company Tailwind is set to complete its exit from shipping with the disposal of its last assets.
It intends to sell the 50% stakes in three small ethylene carriers it owns in a venture with Denmark's Lauritzen Kosan.
The Bergen-based company is seeking an exit from this engagement as the company has gradually been trimming its fleet.
Tailwind was started in 2003 and by 2012 had a fleet of 20 ships. Since 2015 the company has been aiming to sell-off its vessels.
Pricing service VesselsValue says the 9,100-cbm Stella Kosan, Stina Kosan and Sophia Kosan (all built 2008) are worth around $17m each.
Over the last three years, Tailwinds has paid total dividends of NOK 436m ($48.5m) to its shareholders.
The Bjarne Rieber Group holds a 35% stake in Tailwind through the company Inventor Shipping. EGD Shipholding owns 20% and Knut Axel Ugland in Grimstad holds 10%.
The remaining 35% is held by other Norwegian investors in the company Neptun Invest.
Tailwind last made a move in the sale and purchase market in 2017, when it sold the 6,500-ceu car carriers Morning Cello and Morning Cornet (both built 2007) to UK-based Zodiac Car Carriers for some $38m each.
That deal included a long term charter to Eukor Car Carriers.
