Odfjell SE, whose US headquarters are located in Texas, has signed a Term Sheet with Chemical Transportation Group, Inc. (CTG) whereby Odfjell will acquire the last 5 of a total newbuilding order of 10 x 25,000 dwt vessels with 24 stainless steel tanks from Chinese ship builder AVIC Dingheng.
CTG will continue to own 5 vessels which will be placed in a pool commercially managed by Odfjell Tankers AS. The vessels will – together with Odfjell’s current fleet of 5 x 25,000 dwt vessels and the 5 vessels acquired by Odfjell – form a pool for 15 x 25,000 dwt chemical tankers.
The vessels acquired by Odfjell will be bought at USD $40 million per vessel upon delivery from yard, and are scheduled for delivery from June 2017 through May 2018.