Odfjell SE signs final agreement

15 July 2017

Odfjell SE, whose US headquarters are located in Texas, has signed a term sheet with Chemical Transportation Group, Inc. to acquire 5 stainless steel newbuildings and to form a pool of 15 x 25,000 dwt (deadweight tonnage) vessels. Odfjell SE will take delivery of the first vessel on 14 July 2017 and the remaining 4 newbuildings will be delivered in intervals up until May 2018.

The 5 newbuildings fully owned by Odfjell SE and the formation of the pool are expected to have a positive contribution on Odfjell SE's returns and aim to strengthen their position and competitiveness in the current state of the chemical tanker market.