Odfjell Reports Weak Q4 2012 Chemical Tankship Market
Tankship & terminal storage owners/operators Odfjell also noted significant losses at their Rotterdam terminal in its Q4 2012 report. Jan A. The chemical tanker market improved seasonally towards the end of the year. Volumes shipped remained on par with the previous quarter. Earnings on a time-charter basis were up 7.8% compared to third quarter. Freight rates per tonne shipped increased by about 10%. The average price on bunkers purchased in the quarter remained high. In fourth quarter, with the exception of Odfjell Terminals (Rotterdam) (OTR), the EBITDA for our tank terminals remained on par compared with previous quarter. In December…
Odfjell: Strategic Partnership with Lindsay Goldberg
Reference is made to the stock exchange announcement of 18 May 2011, in which Odfjell announced its intentions to enter into a strategic partnership with Lindsay Goldberg LLC to grow its tank terminal business in Europe and North America. Odfjell signed definitive agreements for a strategic partnership with Lindsay Goldberg LLC, a US-based private equity firm. The partnership enhances our platform for organic and strategic investments and expansions in the tank terminal business in Europe and North America. We believe there are attractive expansion opportunities in the tank terminal sector and consider Lindsay Goldberg as a reliable long-term partner with a shared strategic view and ambition.
Odfjell Strategic Partnership with Lindsay Goldberg
With reference to the stock exchange announcement 13 December 2010 in which Odfjell announced a process to evaluate strategic alternatives for its Rotterdam tank terminal, the Company today informs that it has entered into a letter of intent to form a strategic partnership with affiliates of US-based private equity firm Lindsay Goldberg LLC. The selection of Lindsay Goldberg follows a careful review and discussions with various interested parties. According to the proposed transaction…
