Make your products visible globally with Elite Membership.
I agree to the terms and conditions
Existing User?
Sign In with Email
Remember Me Forgot Password?
New User?
Enter your registered Email ID to get reset password.
Elite Member
Individual Register
COPENHAGEN, DENMARK: Nordic Tankers agreed to sell its chemical tanker business for $30 million to a company controlled by private equity firm Triton. The company is negotiating a loan repayment freeze for its remaining assets for another year. Nordic Tankers suffered from a sector slump, caused by the global economic downturn and oversupply of vessels, a combination that has knocked freight rates to loss-making levels. The company is facing expiry of a previously agreed debt repayment freeze at the end of this month. Tommy Thomsen, CEO, Nordic Tankers will head the new company operated under the Nordic Tankers brand.
According to Triton, the combined company will become the leading global regional chemical tanker operator with a total fleet of more than 120 chemical tankers. The remaining Nordic Tankers business, which will comprise a fleet of six product tankers in the range 37,000-73,000 deadweight tonne, will be renamed Nordic Shipholding A/S. Losses caused by globally weak shipping markets and a plunge in its share price last year forced Torm to seek to delay repayment and put it in breach of its loan agreements.
© Reuters News
Login
THE WOODLANDS, US: Chevron Phillips Chemical Co will build the world’s largest on-purpose 1-hexene plant capable of producing up to 250,000 metr ...
BANGKOK, THAILAND/TEXAS, US: Old World Industries finalized the sale of its chemical business, including a manufacturing facility in Clear Lake, Texas ...
TOKYO, JAPAN: Ube Industries is adding a production facility for battery separators to the Sakai factory located in Sakai City, Japan. The move comes ...
MARL, GERMANY: A blast at a chemical plant of Evonik Industries AG in the city of Marl in Germany’s Ruhr valley injured at least two people. Abo ...
NEW DELHI, INDIA: Engineers India Limited and Nalco Water India Limited, a subsidiary of Nalco, an Ecolab Company have signed a memorandum of understa ...
MUMBAI, INDIA: Essar Oil Ltd (EOL) successfully commissioned its new vacuum gas oil hydrotreating unit (VGOHDT) and sulphur recovery unit (SRU) at its ...
Stay updated with the latest chemical industry trends and innovations.
Verification Code has been sent to
Please enter the Verification Code below to verify your Email Address.If you cannot see the email from "noreply@worldofchemicals.com" in your inbox,make sure to check your SPAM Folder