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1  Shipspotters all over the world / Shipping News and information / Re: Nordgard,Ostgard,Sydgard,Westgard. on: March 06, 2015, 11:18:39 am
Following from Newsletter 282 - 2014

Bore ships out six
 Finnish group Bore is selling its general cargoship fleet to focus on ro-ro operations. The company said on Tuesday it is offloading six vessels that constitute its contract of affreightment (CoA) business, which has suffered from “several years of over-capacity and unsustainably poor profitability.”It blamed the small size of the CoA fleet for its uncompetitive position against larger players in the tough general cargo sector.The 5,000-dwt Fingard (built 2000) and Swegard (built 2001) are already on the way out and should be delivered to new owners by the end of this month.Brokers said last month Swegard fetched $2.4m. The 3,700-dwt Nordgard (built 1999) and the 3,800-dwt Sydgard and Westgard (both built 2000) and Ostgard (built 2001) are being bought by Wagenborg, for delivery by the end of December. All this will lead to a maximum of 19 out of 31 shore workers being made redundant at Bore.Limestone shipper Nordkalk has agreed a three-year deal with the new owner to carry cargoes up to 2017. Bore CEO Hakan Modig said: ”We have made progress in turning the negative result trend of Bore, but to achieve further improvement we will focus on becoming a strong shipping partner to our current and future customers in the ro-ro segment.“It is unfortunate that this restructuring program also will have an impact on our employees.” Egbert Vuursteen, Wagenborg CEO, added: “Wagenborg has invested substantially in a new-building programme of ice-classed, fuel-efficient, multi-purpose vessels.“We are very pleased with our partnership with Nordkalk. This cargo-base will enable us to grow and extend our flexibility and competitiveness in the Baltic." Bore will concentrate on ro-ro shipping with its nine vessels from the start of 2015 as part of its “renewal through divestment” strategy.“Bore is today operating some of the world’s most modern and energy efficient vessels in its category,” it said. Source : Tradewinds
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