Odfjell SE announces signing of a LOI for two additional chemical tankers

20 March 2017

Odfjell SE is pleased to announce the signing of a letter of intent for two additional chemical tankers with stainless steel cargo tanks, to be built by Hudong-Zhonghua Shipbuilding (Group) CO., LTD. in China.

The vessels will be 38,000 dwt with 40 tanks and a cargo capacity of about 45,000 cbm. Both vessels will be prepared for dual fuel solution. This order will follow the orders already committed at the yard for four 49,000 dwt vessels with 33 stainless steel cargo tanks. The letter of intent also includes options.

Hudong-Zhonghua Shipbuilding has delivered several large chemical tankers with stainless steel cargo tanks over the last years, and the yard is regarded as one of the very few Chinese construction facilities able to meet Odfjell's quality standards for building advanced chemical tankers. The capital commitments will be about USD 116 million.

"Following this order and other commitments recently taken, most of our renewal needs for the 'super segregators' have been met", said Kristian Mørch, CEO of Odfjell SE.

The Odfjell Group is one of the leading players in the global market for seaborne transportation and storage of chemicals and other speciality bulk liquids. The Odfjell fleet comprises of approximately 76 ships, which trade both globally and regionally. The tank terminal division consist of 11 tank terminals and is part of a network of another 14 tank terminals partly owned by related parties. The tank terminals are strategically located within important shipping hubs around the world. The Odfjell Group’s headquarter is in Bergen, Norway, and the Group has more than 20 offices internationally. Odfjell employs around 3,000 staff and posted annual gross revenue of USD 929 million in 2015.

Odfjell press release