Nordic Tankers and Borealis Maritime have obtained approval from the EU Commission for their joint venture, Crystal Nordic, which will sail chemicals in the Arctic. The commission has determined that there are no competition problems with the two companies creating a new chemical tanker together, which will operate a fleet of ice-class and rust-free steel vessels in the Arctic, writes the EU Commission in a press release.
"The Commission concluded that the proposed acquisition would raise no competition concerns given the moderate market positions in the tramp shipping sector resulting from the transaction. The transaction was examined under the simplified merger review procedure," states the EU Commission.
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