Knud Pontoppidan-chaired Nordic Shipholding is seeking to complete a "strategic transaction" as debt talks continue with lenders.
The Danish owner of five product tankers has liabilities of $90.2m maturing at the end of 2020.
"Given the maturity of the company’s debt facilities...the board is currently very focused on consummating a strategic transaction," the company said in its 2019 report.
"The objective in that regard is to remove financial uncertainty and create a platform for sustainable growth."
