Crystal Pool News

Nordic Tankers and Embarcadero Maritime (a joint venture between Borealis Maritime and KKR) have signed and closed an agreement to sell the jointly held company Crystal Nordic to John T. Essberger in Hamburg, a leading owner and operator of chemical tankers in Europe. Crystal Nordic was established following the combination of Nordic Tankers’ inter-European stainless steel chemical tanker business with Crystal Pool in 2015. The parties have agreed not to disclose any financial information. Crystal Nordic is a Danish headquartered chemical tanker operator, owning 14 ships between 4,000 and 12,000 DWT, serving customers primarily in Northern Europe.

Nordic Tankers and Borealis Maritime Ltd has announced the intention to form a jointly held company, Crystal Nordic A/S – a strong player in the short-sea, ice class chemical tanker trade in the Baltic and North-Western European market. Crystal Nordic A/S will be owned on a 50/50 basis by Nordic Tankers and Embarcadero Maritime (Borealis Maritime). The new company will take over the respective ice classed stainless chemical tankers businesses from its owners, which currently operate under the Nordic Tankers and Crystal Pool trade names. All other Nordic Tankers and Borealis Maritime operations and ventures are unaffected by the new partnership.

Odfjell announced the formation of Odfjell Euroceanica As, a 50/50 Joint Venture between Odfjell SE and Euroceanica Ltd. The J/V will trade all vessels currently operated by Crystal Pool and Odfjell Europe in the European short sea market. The new Crystal Pool set-up will open up for possibilities to offer combined services from Baltic to and from the Mediterranean, and give extensive world-wide coverage via the global presence and services of Odfjell Tankers. Existing contracts and commitments with all respective customers will remain unchanged. The new J/V looks forward to starting renewal dialogues of existing contracts as well as discussing new contracts and commitments for 2012 and beyond.