Turid Sorensen-led Faerder Tankers appears close to finalising a contract for up to eight suezmaxes at Dalian Shipbuilding Industry Co (DSIC).

The former chief financial officer at Nordic American Tankers (NAT) said of the project: “We are close to the finishing line.”

Faerder is to raise $80m in equity from investors through a private placement arranged by Fearnley Securities.

Little has emerged on the development of the project since TradeWinds reported on the preliminary contract at DSIC in early April.