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Odfjell Forms JV for European Tanker Fleet; Swings to Profit

3:38 PM MDT | August 22, 2011 | —ian young

Odfjell has formed a 50-50 joint venture with Euroceanica (London) to manage all of the companies’ chemical tankers operating in the European short-sea market. The jv combines the Odfjell Europe fleet with Euroceanica’s Crystal Pool fleet. The merged fleet will consist of 14 stainless steel vessels ranging from 3,670 dwt m.t. to 11,340 dwt m.t., and it will operate under the Crystal Pool name. Joint operations are scheduled to begin September 1. The jv “will add value, and enhance flexibility and efficiency to customers by utilizing the Crystal...

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