Oslo-listed Stainless Tankers aims to start work on selling two 2005-built chemical carriers immediately, according to chief executive Andrew Hampson.
The Tufton-backed company’s board gave the green light for the disposal of the 20,000-dwt Marmotas and 20,645-dwt Monax (both built 2005) at a meeting in Oslo on Tuesday, Hampson said on an earnings call.
“It’s something — as soon as I’ve finished this call — that we will be getting on with as soon as we can,” he said.
“I don’t really want to get drawn into talking about the pricing, the actual process until, we’ve actually started,” Hampson added.
But he told the call: “I think the S&P market is very strong for these types of ships at the moment. There are a number of interests that we’ve already had expressed.”
Hampson said management has a “reasonably good idea of what’s happening, but I don’t want to get drawn publicly into actually discussing recent transactions and bid-asks”.
Asked about further sales from the fleet of nine ships, Hampson said: “Let’s just handle these two first and then we’ll look at the remainder of the fleet and make decisions accordingly.”
Hampson has previously said he believes the Marmotas and Monax could fetch about $16m each.
Stainless Tankers was formed in 2023 to ride a strengthening chemical tanker market before winding the company down.
Hampson said Stainless Tankers had made it very clear when the company started that it is a dividend-play vehicle.
“It is not our intention to develop it into a fully-fledged operating company with a longer life,” he told the call.
The plan is to return money to investors in the most effective way.
And the company will not be deviating from that aim, Hampson said.
