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Sinochem and Dorval Kaiun Form Chemical Shipping JV

2:40 AM MDT | April 30, 2012 | Deepti Ramesh

Sinochem (Beijing) and chemical shipping company Dorval Kaiun (Tokyo) say they have established Dorval SC Tankers (DSCT; Tokyo), a joint venture to operate an international chemical transportation business. Sinochem’s Sinochem International FZE subsidiary holds 51% stake in the jv. Following the financial crisis in 2008, the liabilities caused by the overexpansion of its fleet took a heavy toll on Dorval, which was established in 1970, Sinochem says. Dorval Kaiun, its core company, applied to the Tokyo district court for civil rehabilitation, in December...

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