A “disastrous” project in products/chemical tankers by Norwegian investors is coming to a close, with two Westfal-Larsen operated ships now in the process of being sold.

The 46,000-dwt Ravanger and Risanger (both built 2000), which are due for special survey next spring, are understood to have fetched $10.5m each, which is in line with market values.

The Daedong-built tankers were purchased from Minerva Marine of Greece at the top of the market for $48.4m