Chemical tanker owner and operator Tokyo Marine Asia (TMA) will, with effect from January 1 2017, absorb the business of its subsidiary company Milestone Chemical Tankers and change its registered name to MOL Chemical Tankers (MOLCT).
The Singapore-based company said that the ultimate objective of MOLCT is to grow into an integrated logistics company which will not only consist of the marine transport of chemicals and vegetable oils by stainless chemical tankers as at present, but also by incorporating tank terminals, ISO tank containers and marine transport by MR chemical tankers in the future.
MOLCT will continue to act as an independent entity from MOL. In addition, MOLCT’s subsidiary companies will change their names to incorporate the name MOL as follows.
TMA currently operates 52 chemical parcel tankers, owned and chartered-in of approximately 9,000 DWMT to 35,000 DWMT, all IMO II & III, with segregation of 16 to 28 tanks.
Milestone Chemical Tankers and Milestone Chemical Tankers America became the wholly owned subsidiaries of TMA in November 2015.