Naess Jahre Bulkers Reduces Chartered Fleet

The struggling Norwegian shipping concern Naess Jahre Bulkers (NJB) has trimmed the size of its chartered fleet in an effort to resolve its financial problems. The bareboat charters on four OBO carriers – the Emerald, Diamond, Pearl, and Sapphire – have been terminated prematurely, with no financial penalties incurred by either party. In addition, NJB has paid its way out of a charter on another combination carrier which was scheduled for redelivery in 1992. The return of these five ships reduces the size of the NJB fleet to five vessels, comprising two bulkers, two OBO carriers and one tanker. When the charters on the OBOs and the tanker expire, the company will concentrate on the dry bulk market and short term charters.

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