Bulk Distributor Sept/Oct 16 | Page 5

Tank Containers
September / October 2016

Tank Containers

BULKDISTRIBUTOR

Stolt-Nielsen acquires chemical tanker operations from Jo Tankers and begins new joint venture

Stolt-Nielsen Limited is expanding its fleet with the acquisition of the chemical tanker operations of Jo Tankers . The transaction comprises 13 chemical tankers and a 50 % share in a joint venture with eight chemical tanker newbuildings . The total purchase price is approximately $ 575 million , including the proportional share of the newbuildings in the joint venture . Stolt-Nielsen secured funding through some of its main banks with a combination of bridge financing , secured term loans and available corporate funds . The transaction is subject to competition authority approval . Niels G Stolt-Nielsen , CEO of Stolt-Nielsen Limited , said : “ The transaction covers the tonnage replacement needs of our current chemical tanker fleet for the next several years . While giving us some operational savings , it adds new trade routes to our service offering , thus expanding our presence on key tradelanes and enabling us to better serve the needs of our global customer base . With the expanded fleet we will be better positioned to serve our customers with the quality , reliability and flexibility they require from their

logistical provider . Because Stolt Tankers and Jo Tankers share similar approaches to ship management and trading , we will be able to quickly , cost effectively and synergistically integrate these ships into our worldwide operations .” The 13 chemical tankers consist of eight all stainless steel ships , ranging from 19,000 dwt to 38,000 dwt , and five ships with a combination of stainless steel and coated tanks , all of approximately 37,000 dwt . Six of the 13 ships have been on time charter to Stolt Tankers for the last five years . The newbuildings included in the transaction consist of eight all stainless steel eco-friendly ships of 33,000 dwt on order from New Times Shipbuilding in China , the first of which was delivered in early July . The remaining seven will be delivered in the second half of 2016 and in 2017 . “ The business environment requires economy of scale , global capacities and increased service flexibility . In each of these areas Jo Tankers has reached the limit of our capabilities . The move from regional partner to global player would require a partner who shared our values and long term thinking . We are proud that Stolt wanted to purchase us ,” added Nils-Petter Sivertsen , Jo Tankers CEO .
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Pioneering vessels custom-made for BG Freight

BG Freight Line is to receive new short-sea container feeder vessels tailor-made for its Irish Sea Hub services . The new class of ‘ green ’ vessels has been developed by BG Freight Line operation with ARKON Shipping as project initiator / commercial manager , technical managers Jüngerhans Maritime Services , and designers CIMC ORIC . BG Freight Line , a fully owned subsidiary of Peel Ports Group , will take delivery of four sister vessels under long-term charter after delivery from Zhoushan Changhong International Shipyard , expected to enter service during 2018 . The vessels will be created with state-of-the-art features in order to comply with Emission Control Area ( ECA ) requirements and BG Freight Line ’ s navigation and trading needs , including a modern wet scrubber system for exhaust cleaning . The finished vessel will be fully fitted for the loading of 45ft short-sea containers in all positions , with room in total for 488 units . Additionally , a various number of odd-sized containers can be stowed fast and securely due to a new proprietary and innovative cargo stowage system . To minimise operational cost , the vessel will be fitted with a modern two-stroke main engine with very low fuel consumption . All parameters of the vessels have been optimised for the trade between the North Continent , Ireland and the UK . Koert Luitwieler , Shipping Director at BG Freight Line , said : “ As well as helping us , and our customers , to reduce carbon emissions and costs , these custom vessels have a number of innovations to help keep us at the forefront of feeder services in the Irish Sea .” Ole Gabs , Director of ARKON Shipping , said : “ We are proud to have developed and managed this project under the current difficult shipping market conditions . We believe that the future for vessel design and construction is to have close partnerships between owners and charterers , especially where there is as ambition to meet the highest environmental standards .”