Odfjell SE, Crystal Pool Form Joint Venture

Wednesday, August 17, 2011

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 J/V will commercially manage and operate a fleet of 14 stainless steel vessels under the name of Crystal Pool:

Vessel/Built/DWT/CBM/Coated/ICE class

Euro Mora 1998    3.670 mt      3.782    STST 1C
Euro Corallo 1999    4.470 mt      4.452   STST   1C
Bow Bracaria 1997 5.870 mt      5.941   STST    1A
Bow Balearia 1998 5.870 mt      5.941   STST    1A
Bow Brasilia 1997 5.870 mt      5.941   STST    1A
Bow Pilot 1999 6.008 mt      6.865   STST    1C
Crystal Ambra   1998    8.053 mt      8.399   STST    1A
CrystalAmethyst 1994    8.143 mt      9.346   STST   1A
Crystal Emerald 1994    8.143 mt 9.346   STST    1A
Crystal Pearl 1994    8.143 mt      9.346   STST   1A
Crystal Skye    1998    9.554 mt    10.689  STST   1A
CrystalAmaranto 1999    9.931 mt    10.893  STST   1A
Crystal Topaz  2006   11.340 mt   11.879  STST    1A
Crystal Diamond 2006   11.340 mt    11.879  STST   1A
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.
The J/V will be fully operative as from 01 September 2011, working out of two locations, Helsinki, Finland and Bergen, Norway.

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