Odfjell SE signs Framework Agreement with Sinochem Shipping Singapore Pte. Ltd to take 4 stainless steel vessels on long-term bareboat charters and to form a pool of 8 chemical tankers
(Thomson Reuters ONE) -
Odfjell SE ("Odfjell") has signed a Framework Agreement with Sinochem Shipping
Singapore Pte. Ltd ("Sinochem") whereby Odfjell will take 4 of a total
newbuilding order of 8 x 40,900 dwt chemical tankers on long-term bareboat
charters.
The bareboat charters include purchase options at the end of the charter period.
Sinochem will continue to own 4 vessels, which together with the 4 bareboat
vessels will form a pool of 8 x 40,900 dwt sophisticated chemical tankers. The
pool will be managed by Odfjell SE and the vessels will trade as part of the
Odfjell Tankers fleet.
The series of newbuildings are built at Hantong Wing Shipyard in China, with 30
stainless steel tanks capable of handling speciality products and with a proven
energy efficiency. 7 of the vessels were delivered in 2016 and 2017, with the
8th newbuilding expected for delivery in December 2017.The 8 vessels will join
Odfjell's fleet over the course of the coming months, and will replace existing
tonnage which is currently on charter to Odfjell from other owners. The
replacement of existing chartered-in vessels will have a positive impact on
Odfjell SE earnings.
"With this structure, we will replace a large part of our maturing chartered-in
fleet with more modern and sophisticated tonnage, and in a highly capital
efficient way. We are also very pleased with the new relationship with Sinochem
and with the trust they place upon us as managers of the pool", said Kristian
Mørch, CEO of Odfjell SE.
"We are excited to embark on this new journey with Odfjell SE whom are both a
recognized industry pioneer and market leader. The high-quality, sophisticated
and flexible nature of our chemical tankers which are, proudly "Built-in-China",
will be a natural fit in and an immediate enhancement to their first class
global operating platform", said Zhang Xin, CEO of Sinochem Shipping.
The transaction is subject to satisfactory completion of competition law
assessment and customary closing conditions.
For more information:
Kristian Mørch
CEO, Odfjell SE
Tel: +47 47 68 84 76
E-mail: Kristian.morch(at)odfjell.com
Bjørn Kristian Røed
Manager Investor Relations & Research, Odfjell SE
Tel: +47 55 27 47 33
E-mail: bkr(at)odfjell.com
Terje Iversen
CFO/SVP Finance, Odfjell SE
Tel: +47 55 27 47 39
E-mail: terje.iversen(at)odfjell.com
Paal Olavesen
Commercial Manager, Sinochem Shipping Singapore Pte Ltd
Tel. +1-713-410-0174
Email: polavesen(at)sinochem.com
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act
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: 14.11.2017 - 08:01 Uhr
Sprache: Deutsch
News-ID 567993
Anzahl Zeichen: 3357
contact information:
Town:
Bergen
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 128 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Odfjell SE signs Framework Agreement with Sinochem Shipping Singapore Pte. Ltd to take 4 stainless steel vessels on long-term bareboat charters and to form a pool of 8 chemical tankers"
steht unter der journalistisch-redaktionellen Verantwortung von
Odfjell SE (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
