MOL Nordic Tankers incurs a loss for the third consecutive year. 2019 was off to a weaker start than expected, and the market recovery was disappointing, management writes. The company has changed its name again.
Following his exit from MOL Nordic Tankers, Per Sylvester Jensen is open to take on another top job in shipping. But it has to be close to his family in the US, says Jensen in an interview with ShippingWatch.
Chemical tanker company MOL Nordic Tankers replaces its top management, including CEO Per Sylvester Jensen. This development is a consequence of the company getting new owners, which have initiated an integration process.
MOL Chemical Tankers has now completed its acquisition of Nordic Tankers from equity fund Triton. The sale means that the chemical tanker shipping company will now operate under the name MOL Nordic Tankers.
The chemical tanker market is extremely fragmented, according to new figures following this week's deal between Nordic Tankers and BW Group. Several market players have stressed the need for consolidation for a long time.
With the sale of Nordic Tankers, equity fund Triton wanted to support the consolidation in the market. The Japanese buyer also points to consolidation as a factor. With the sale, Triton's portfolio no longer includes shipping.
Nordic Tankers will go from being owned by an equity fund to having an industry-based owner with Japanese MOL Chemical Tankers. That is "very important" for the shipping company's future, says Nordic Tankers CEO Per Sylvester Jensen in an interview with ShippingWatch.