Nordic Shipholding has apparently found a buyer for its three remaining ships.

Athens-based brokers reported on Monday that the Copenhagen-listed company has concluded sale agreements for the two handysizes and LR1 product tankers in its fleet.

German buyers are believed to be spending between $11.5m and $12m each on the 37,800-dwt Nordic Agnetha and Nordic Amy (both built 2009).

In a separate deal, unidentified interests are said to be swooping on the 73,800-dwt Nordic Anne (built 2009) for $13m.

The reported prices, if correct, look somewhat low — especially considering that the three ships will not have to pass a special survey before 2024 and are equipped with a ballast water treatment system.

VesselsValue estimates the Nordic Agnetha and the Nord Amy are currently worth more than $13m each and that puts a $15.4m price tag on the Nordic Anne.

MSI Horizon gives an indicative assessment of the Nordic Anne's fair market value at between $14.4m and $16.8m for the current quarter. In the case of the two handysize tankers, MSI Horizon's value range is between $11.4m and $13.6m.

A sale price at the reported levels would therefore seem to go against general market developments, which saw very resilient secondhand tanker prices this year, despite poor earnings.

"Values have generally held… and in some cases — particularly for MRs and aframaxes, levels that were reported took the market by surprise," Xclusiv Shipbrokers said in an annual review on 27 December.

The show is over

A Nordic executive declined to comment on the information that the ships have been sold, citing standard company policy to inform investors through public announcements only.

Nordic, however, is known to have put up the ships for sale in August as it winds up operations after the search for a merger partner failed.

Negotiations to divest the trio have been ongoing since.

Nordic has been piling up losses amid poor tanker markets. When announcing third-quarter results in November, the company said that its board was "in discussions with the group's various stakeholders to ensure the proper winding down...in a responsible manner".

Nordic added that volatile markets didn't allow a precise estimation of the value unlocked by the expected fleet sale.

In October, chairman Knud Pontopiddan quit and was succeeded by International Chamber of Shipping chairman Esben Poulsson, who had been until then an independent Nordic director.

All three Nordic ships are currently trading in Hafnia-managed pools. The Nordic Amy and Nordic Agnetha were built at Hyundai Mipo Dockyard while the Nordic Anne was made in China, at New Times Shipbuilding.