Arendals Dampskibsselskab (ADS), a self-styled traditional Norwegian shipowner with a small fleet of large tankers, is taking a cautious approach to fleet growth despite a buoyant market.
Bjorn Tore Larsen, chairman of ADS and its affiliated shipmanagement company OSM Maritime Group, suggested the company will base future fleet growth on long-term charters with top-tier charterers.
Conservative policy
Speaking to TradeWinds recently in Busan, South Korea, at the naming ceremony of two LNG dual-fuel shuttle tankers built for AET Sea Shuttle — a four-ship joint venture with AET Tankers in which ADS has a 5% stake — Larsen said the 162-year-old company has a very conservative acquisition policy, especially regarding newbuildings.
