Stolt-Nielsen Wraps Up Jo Tankers Purchase

Image Courtesy: Jo Tankers
Image Courtesy: Jo Tankers

Oslo-listed bulk liquid chemicals transporter Stolt-Nielsen Limited has completed the acquisition of the chemical tanker operations of Jo Tankers, a week after it received unconditional Competition Authority approvals for the purchase.

The company has now finalized the USD 575 million acquisition, which includes 13 chemical tankers and a 50% share in a joint venture with eight chemical tanker newbuildings.

The chemical tanker fleet consists of eight all stainless steel ships, ranging from 19,000 dwt to 38,000 dwt, and five ships with a combination of stainless steel and coated tanks, all of around 37,000 dwt.

Six of the 13 ships have been on time charter to Stolt Tankers for the last five years.

The newbuildings included in the transaction consist of eight all stainless steel ships of 33,000 dwt on order from New Times Shipbuilding in China, the first of which was delivered in early July 2016.

“The acquired ships would satisfy the tonnage-replacement needs of the Stolt Tankers’ fleet for the next several years,” Stolt-Nielsen earlier said.

Share this article

Follow World Maritime News

Posted on November 23, 2016 with tags .

In Depth>

Events>

<< Oct 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

5th Mozambique Gas Summit & Exhibition

CWC Group in partnership with ENH and with the support and participation from MIREME and INP…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

Offshore Energy Exhibition & Conference (OEEC)

It is unique in bringing together the oil and gas, offshore wind and marine energy industry…

read more >

Seatrade Maritime Middle East

The three days will include a thought-provoking, educational conference programme…

read more >