Odfjell SE signed a term sheet with Chemical Transportation Group, Inc (CTG), to acquire 5 stainless steel newbuildings and to form a pool of 15 x 25,000 dwt vessels.
Odfjell announced that the transaction has now been signed and completed.
Odfjell SE will take delivery of the first vessel on 14 July 2017 and the remaining 4 newbuildings will be delivered in intervals up until May 2018.
Odfjell believes that the 5 newbuildings fully owned by Odfjell SE and the formation of the pool will help improve its position in chemical tanker market.