Odfjell SE signs Term Sheet with Chemical Transportation Group to acquire 5 stainless steel newbuildings and to form a pool for 15 x 25,000 dwt chemical tankers
(Thomson Reuters ONE) -
Odfjell SE ("Odfjell") has signed a Term Sheet with Chemical Transportation
Group, Inc ("CTG") whereby Odfjell will acquire the last 5 of a total
newbuilding order of 10 x 25,000 dwt vessels with 24 stainless steel tanks from
Chinese ship builder AVIC Dingheng.
CTG will continue to own 5 vessels which will be placed in a pool commercially
managed by Odfjell Tankers AS. The vessels will - together with Odfjell's
current fleet of 5 x 25,000 dwt vessels and the 5 vessels acquired by Odfjell -
form a pool for 15 x 25,000 dwt chemical tankers.
The vessels acquired by Odfjell will be bought at USD 40 million per vessel upon
delivery from yard, and are scheduled for delivery from June 2017 through May
2018.
The vessels that will remain under CTG ownership will enter the pool as soon as
existing pool agreements and charters expire in the coming 6-12 months.
"This transaction will be in line with our strategy 'the Odfjell Compass' and
will complete most of our current tonnage ambitions. It will, together with
other recent tonnage initiatives, ensure that Odfjell can continue to offer
competitive and efficient service to our customers. At the same time, we are
excited about the strategic relationship between CTG and Odfjell, and are
pleased to take part in the consolidation of the chemical tanker industry", said
Kristian Mørch, CEO of Odfjell SE.
The transaction is subject to final negotiations and execution of definitive
documentation and customary closing conditions.
For more information:
Kristian Mørch
CEO, Odfjell SE
Tel: +47 55 27 00 00
E-mail: kristian.morch(at)odfjell.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Odfjell SE via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 16.06.2017 - 07:34 Uhr
Sprache: Deutsch
News-ID 548275
Anzahl Zeichen: 2217
contact information:
Town:
Bergen
Kategorie:
Business News
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