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Markets :: Basic Chemicals :: Petrochemicals :: Ethylene

Solvang and Evergas dispute future of ethylene shipping JV

8:18 AM MDT | July 17, 2013 | Francinia Protti-Alvarez

Solvang (Stavanger, Norway), a shipping company, is attempting to dissolve Evergas Solvang Ethylene, a petrochemical transportation joint venture between Evergas (Copenhagen), which is another shipping firm, and Solvang, according to a company filing with the Oslo Stock Exchange. The termination follows a deadlock over terms of the jv agreement. Arbitration and injunction proceedings were initiated in April and May this year, respectively, but failed to resolve the dispute. Solvang then requested that the jv be dissolved. The jv, set up in 2009, is active in the...

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