Stolt-Nielsen takes over chemical tanker fleet for half a billion USD

Stolt-Nielsen has purchased the tanker operations from carrier Jo Tankers for USD 575 million. The acquisition secures the much-needed renewal of the Norwegian carrier's tanker fleet for several years into the future, says CEO Niels G. Stolt-Nielsen. The purchase must still be approved by authorities.

Photo: Stolt-Nielsen Limited

Norway's Stolt-Nielsen is now expanding its tanker carrier with a purchase worth half a billion US dollars.

In a corporate statement the carrier informs that it signed a deal with another Norwegian tanker carrier, Jo Tankers, to take over the carrier's operations in chemical tanker, which counts 13 chemical tanker vessels as well as 50 percent ownership in a joint venture concerning eight newbuildings.

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