Odfjell Expands its Chemical Tanker Fleet

Friday, September 22, 2006
Odfjell has invested more than $130m recently in expanding its fleet, acquiring five chemical tankers. Four of the chemical tankers are second-hand ships with stainless steel cargo tanks and are built between 1995 and 1997.

M/T "Giada D" (10 115 dwt./built 1996) is built in Italy, and was delivered 12 September from Italian owners. The vessel has been renamed "Bow Querida".

M/T "Euro Azzurra" (13 843 /1997) is built in Italy, and will be delivered late 2006/early 2007 from English owners. This ship is acquired by a Norwegian 50/50 joint venture company owned by Odfjell ASA and Kristian Gerhard Jebsens Skipsrederi AS.

M/T "Brage Atlantic" (17 460/1995) and M/T "Brage Pacific" (17 460/1997) are built in Norway. The vessels are bought from Norwegian owners, and delivery will take place in first and second quarter 2007.

On 13 September 2006 a Joint Venture company in China, owned 49 % by Odfjell ASA took delivery of a newbuilding of 3 850 dwt. This chemical tanker with MarineLine cargo tanks will operate in the Chinese domestic market.

Further, Odfjell has sold M/T "Bow Heron" (35 289/1979) to Norwegian owners. She is built in Norway in 1979 and has mainly coated cargo tanks. The ship will be delivered to the new owners in November 2006. The net profit from this transaction will be USD 0.7 mill.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Sales

China Shipping Line to Buy 10 Vessels

China Shipping Container Lines Co is planning to buy around 10 ultralarge container ships for around $1.5 billion, despite the shipping industry struggles with a capacity glut, reports WSJ.

CMES Establishes Subsidiary for Valemax

China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set

Russian JV Close Acquisition of Prime Shipping

The Russian Joint Venture between Rosneft, Sberbank Investments and Pietro Barbaro S.p.A. closed the acquisition of the Pietro Barbaro Group shipping assets

News

Cosco CSCL Merger Talks Continue

The closed-door talks on what is believed to be merger discussions between Cosco and China Shipping continue, reports local media.   According to JoC, the Chinese

CMA CGM's Profits Jump 67% in Q2

French shipping giant CMA CGM, reported a 66.7% jump in net profit to $156m in the second quarter of 2015. The result compared to a $94m net profit in the same period a year earlier.

CMES Establishes Subsidiary for Valemax

China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3208 sec (3 req/sec)