Odfjell Forms JV for European Tanker Fleet; Swings to Profit

Odfjell says it 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 on September 1, 2011 working from offices in Bergen, Norway and Helsinki. "The combined fleet and know-how of both...

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