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Odfjell Announces Deals to Add Six Newbuilds

Maritime Activity Reports, Inc.

November 13, 2023

(File photo: Hudong-Zhonghua Shipyard)

(File photo: Hudong-Zhonghua Shipyard)

Norwegian shipping company Odfjell SE announced it is expanding its fleet with six newbuildings through a combination of long-term time charter and pool agreements with Japanese shipowners and shipyards.

This increases the total to twelve 25,000 - 40,000 dwt stainless steel vessels to be delivered on long-term time charters and pool agreements between 2024 and 2027.

The series of newbuildings will be built at multiple shipyards in Japan and are scheduled to be delivered from 1H2026 to 1H2027. Two of the vessels are 40,000 dwt stainless steel supersegregator chemical tankers with 28 tanks, while the additional four are 25-26,000 dwt stainless steel chemical tankers with 24 tanks. All vessels will be capable of handling a range of specialty liquid products.

The vessels will join Odfjell’s worldwide trades in a strategic combination of long-term time charter and pool arrangements. The agreements are entered into at attractive levels, and Odfjell has purchase options on the vessels entered on time charter, the company said.

“We are pleased to announce these agreements as they further strengthen our fleet composition and serve as a confirmation of our growth ambitions. The collaboration between the shipbuilders, suppliers and our team has resulted in tailored vessels that are sustainable, efficient and cost-effective,” said Odfjell CEO Harald Fotland.

“This approach allows us to continue to deliver exceptional services to our customers and optimize our operations without compromising our commitment to sustainability. We introduce modern and sophisticated tonnage in a capital-efficient way.”