October 7 - Finnish shipping company Bore plans to sell six general cargo vessels, while it concentrates on strengthening its position in the ro-ro sector.
Bore said that due to several years of overcapacity in the market and the unsustainably poor profitability of the company's contract of affreightment (COA) business, it plans to exit the sector and focus on ro-ro operations.
Two of Bore's general cargo vessels, Fingard and Swegard, are already in the process of being sold with delivery expected to their new owners by the end of October, 2014.
The other four vessels - Nordgard, Sydgard, Westgard and Ostgard - are to be sold to Royal Wagenborg and are scheduled for delivery by the end of December, 2014.
Limestone-based products producer Nordkalk, which is also part of Bore's parent company, the Rettig Group, has also signed a contract with Wagenborg to cover the majority of its sea-freights from 2015 to 2017.