Stainless Tankers ASA is pleased to announce that it has successfully entered into an agreement for the sale of the 2008-built J19 stainless steel chemical tanker, Gwen, for a total gross amount of $16.16 million (the “Disposal“). The vessel is scheduled for delivery to its buyer around the end of July 2025. This represents the Company’s third strategic divestment, and following the Disposal, the Company’s fleet will consist of six J19 stainless steel chemical tankers.

In line with the Company’s commitment to maximising shareholder value, the Board intends to return capital to shareholders after the vessel has been delivered to its buyer. Given the continuing geopolitical uncertainties, the Board will determine the amount of a special dividend to be made taking into account upcoming fleet capex and working capital requirements together with mandatory bank debt prepayment obligations.

Stainless Tankers ASA (ticker code “STST”) is a shipping company specialized in providing seaborne transportation of chemical cargoes worldwide. The Company provides investors with pure-play stainless steel chemical tanker exposure in an investor friendly structure through its fleet of seven stainless steel vessels, each with an approximate total carrying capacity of 20,000dwt. The fleet is managed by Tufton, with a primary focus on maximizing earnings and distributing excess operating cashflows to shareholders.
Source: Stainless Tankers