For Kvaerner Reefer Fleet, It’s a Matter of Price

Despite off season, Kvaerner a.s. may already be making moves to divest some or all of its reefer fleet, since reefer scrappings are probably past their peak and despite the quiet season – markets are currently better than they were last year at this time. The market is expected to improve another 8-12% next year. But, waiting until the end of the cycle isn’t necessarily the best strategy for Kvaerner, which removed shipping as a core business and placed it under the aegis of its finance department last May. After the sale of its gas shipping to Havtor, the reefer fleet of eight vessels represents Kvaerner’s largest remaining shipping element. “It’s just a matter of pride,” one analyst said, regarding the sale of the 400,000 cbft plus ships.

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