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Oslo-listed Stolt-Nielsen has completed the acquisition of the remaining 50% stake in a chemical tanker joint venture it formed with competitor Odfjell.
The company has revealed in its most recent financial results that it bought the remaining stake in the Hassel Shipping 4 joint venture.
The JV has a fleet of eight 32,800 dwt vessels built between 2016 and 2018 – more precisely, the Stolt Alm, Stolt Apal, Stolt Calluna, Stolt Ebony, Stolt Lerk, Stolt Lind, Stolt Maple, and Stolt Palm – registered in Portugal and the UK.
This was not the only acquisition in the quarter, as the company also acquired an additional 48.8% interest in Avenir LNG in which it now holds a 95.8% stake.
On March 5, Stolt-Nielsen launched a compulsory offer for the remaining 4.2% of Avenir shares, which is expected to be completed by the end of April 2025.
The post Stolt-Nielsen takes over control of tanker joint venture appeared first on Energy News Beat.
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