MOL Chemical Tankers and Nordic Tankers 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 a stronger business platform as one of the major owners/operators of stainless-steel chemical tankers in the world, which will provide more competitive options for customers in the market of chemical tankers, which undoubtedly will continue to grow in the future.