MOL Chemical Tankers Pte. Ltd. in Singapore (MOLCT) and Nordic Tankers A/S in Denmark (NT) Tuesday (Jan08) announced that Triton, the current sole shareholder of NT, agrees to sell and deliver 100% of shares of NT to MOLCT and MOLCT buys and takes delivery of 100% of shares of NT from Triton, in each case together with all rights attached to them on and with effect from the Closing Date, which is expected at the beginning of February, 2019.
Consequently, NT will be renamed to “MOL Nordic Tankers A/S” (MOLNT) with effective upon the closing date, which should be confirmed later. However, all existing management and employees of NT will remain in the company and maintain the current services without any disruptions by the change of the shareholder.
As of today, MOLCT operates 56 stainless-steel deep-sea chemical tankers ranging between 19,000MT and 37,000MT in deadweight worldwide (excluding 6 smaller tankers with 8,000-12,000MT in deadweight operated within South-East Asia), while NT operates 19 deep-sea stainless-steel chemical tankers mainly in the Trans-Atlantic and Latin America trades. Even though trading areas of both companies are mostly separated in areas, their business strategies are very much similar, i.e. (a) with high COA portfolio and (b) multi-segregation tankers.
Therefore, the acquisition of NT by MOLCT shall create stronger business platform as one of major owners/operators of stainless-steel chemical tankers all over the world, which shall provide more competitive options for customers in the market of chemical tankers, which undoubtedly will continue to grow for the future.
Tsuneo Watanabe said: We are really excited to acquire NT, which shall create a lot of synergies with MOLCT in the chemical tanker industry. We are confident enough that the collaboration between MOLCT and NT should provide better and more efficient services to all existing customers of them. It should also create extra values to our customers, ship-owners and any other stakeholders, as well as management and employees of both companies.
Per Sylvester Jensen said: At Nordic Tankers we are very pleased to get MOL Chemical Tankers as our new owners. MOL Chemical Tankers is a well-respected company with a successful history in the chemical tanker industry with strong customer focus that mirrors Nordic Tankers strategy. We expect that the new owner will enhance Nordic Tankers ability even further in delivering exceptional value to our customers, owners, employees and other stakeholders and are looking forward to further grow and develop Nordic Tankers in a close partnership with MOL Chemical Tankers.
Source: MOL Chemical Tankers