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Sincere Navigation Unit to Acquire Two Tankers

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Sincere Navigation (TPE:2605) unit Norley agreed to acquire a 109,475-deadweight-ton Aframax crude tanker built in 2016 for $41 million.

The vessel will be acquired by Norley's subsidiary Claymor from KMARIN No.17E S.A., according to a Wednesday Taiwan Stock Exchange filing.

The charter is expected to run until August 2029, with an option to extend it for one year through August 2030.

According to a separate same-day filing, Norley's unit Gifted Works agreed to acquire a 109,258-deadweight-ton LR2 tanker built in 2016, for $41 million.

The vessel will be acquired from Kmarin No. 17F S.A. The charter is expected to run until November or December 2029, with an option to extend through December 2030.

Both acquisitions are for fleet expansion, the international dry bulk shipping company said.

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