• 2019 July 21 13:04

    Odfjell SE sells its ownership share of terminal in Jiangyin, China

    Odfjell SE says that Odfjell Terminals Asia Holding Pte. Ltd. has today finalized the sale of its indirect 55% equity interest in Odfjell Terminals (Jiangyin) Co., Ltd. Reference is made to the stock exchange announcement of May 8th, 2018, in which Odfjell SE (Odfjell) announced that Lindsay Goldberg (LG) is considering a sale of its 49% shareholding in Odfjell Terminals BV.

    After LG completed the sales of its shareholdings in the US and European terminals, LG is now in the process of selling its shareholding in the Asian terminals. Connected with this, Odfjell has decided to tag along on LG’s sale of its indirect shareholding in Odfjell Terminals (Jiangyin).

    Odfjell is pleased to announce that Odfjell Terminals Asia Holding Pte. Ltd. has today finalized the sale of its indirect 55% equity interest in Odfjell Terminals (Jiangyin) Co., Ltd. to Yangzijiang Shipbuilding (Holdings) Ltd. for a price of approximately USD 46 million. The transaction will result in a capital gain expected to be booked in 3Q, and net proceeds to Odfjell estimated at USD 21 million.

    Commenting on the transaction, Kristian Mørch, CEO of Odfjell, said: "We are pleased to have concluded the sale of our Jiangyin terminal and its jetty at what we believe is a fair valuation that is a testimony to the strength and quality of the investments made since 2007. This divestment is in line with our strategy to grow and focus on chemical terminals in locations where we can harvest synergies with Odfjell Tankers. We appreciate the cooperation we have had with our partner Jiangsu Garson Gas Co., Ltd. in China, and wish them and their new partner Yangzijiang Shipbuilding a successful future in further developing the full potential of the terminal and its jetty.”

    About Odfjell

    The Odfjell Group is one of the world leaders in the global market for seaborne transportation and storage of chemicals and other specialty bulk liquids. Established in 1914, Odfjell pioneered the development of the chemical tanker trade in the 1950s and the tank storage business in the late 1960s.




2019 December 12

14:12 CMA CGM announces FAK Reefer Rates from North Europe to Asia and Middle East
13:53 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
13:31 NLNG signs sales deal with Vitol SA
13:12 Austal USA delivers USNS Puerto Rico to U.S. NAVY
12:49 Throughput of port Primorsk in Jan-Nov’2019 grew by 16% Y-o-Y to 56.25 million tonnes
12:24 Lead nuclear-powered icebreaker of Project 22220, Arktika, left for sea trials
12:00 ABS publishes Fuel Cell Guidance to support industry decarbonization objectives
11:38 Port of Ust-Luga handled 95.31 million tonnes in 11M’18, up 6% Y-o-Y
11:13 Throughput of Port St. Petersburg in 11M'2019 grew by 2% to 55.01 million tonnes
11:10 Verifavia Shipping undertakes IHM services for 29 Attica Group vessels
10:56 Wärtsilä to divest its ELAC Nautik business
10:49 Throughput of port Riga (Latvia) in 11M’2019 fell by 9.4% Y-o-Y to 30 million tonnes
10:26 TransContainer dispatched test train from Korea to Poland
10:05 MABUX: Bunker market this morning, Dec 12
09:47 Brent Crude futures price is up 0.41% to $63.98, Light Sweet Crude – up 0.14% to $58.84
09:31 Baltic Dry Index is down to 1,460 points
09:08 Viking Line’s new vessel to be equipped with Climeon Heat Power System
08:12 Nautilus Labs becomes new Inmarsat fleet data application provider

2019 December 11

18:33 Kongsberg and the Norwegian Society for Sea Rescue join forces to develop new SAR solutions
18:03 DOF Subsea secures integrated FSV contract in Africa
17:50 NCSP Group's consolidated cargo turnover for 10 months of 2019 totaled 121.2 million tons
17:32 Equinor completes the acquisition of a 50 % interest in the offshore wind development project Bałtyk I in Poland from Polenergia
17:25 LNG in the era of decarbonization: the 6th International LNG Congress 2020 brings up environmental questions
17:13 Port Houston sets new records at container terminals in November 2019
16:54 World's first liquefied hydrogen carrier SUISO FRONTIER launches building an international hydrogen energy supply chain aimed at carbon-free society
16:32 Seaspan Shipyards delivers its second offshore fisheries science vessel to the Canadian Coast Guard
16:13 Port of Virginia сargo volume up nearly 4% in November 2019
15:49 Throughput of port Taganrog in 11M'2019 fell by 7% to 2.59 million tonnes
15:32 Aker BP first ever to use new well stimulation method offshore
15:12 Port of Savannah container volumes up 5.4 percent in November 2019
14:51 Sovcomflot named Company of the Year at the 2019 Lloyd’s List Europe Awards
14:32 Aker Solutions secures contract to support the development of BP’s Cypre project, offshore Trinidad and Tobago
14:12 Port of Oakland export volume up 5.8 percent in November 2019
13:50 Bunker prices are flat at the port of Novorossiysk, Russia (graph)
13:32 Belships enters into two letters of intent for the acquisition of two Ultramax bulk carriers
13:11 Port of Los Angeles moves 728,918 TEUs in November 2019
12:47 Dredge Yard receives an order for a customized Cutter Suction Dredger from Western Potash
12:47 Yamal LNG received all 15 Arc7 ice-class tankers
12:25 Wärtsilä & CSSC Huangpu Wenchong Shipbuilding Company Limited agree to jointly develop hybrid vessels for the future
12:23 Admiralteiskie Verfi shipyard starts metal cutting for fourth super trawler ordered by Russian Fishery Company
12:01 ABS and DSME sign digitalization and decarbonization JDP agreement
11:31 New mobile crane increases APM Terminals Yucatán’s productivity by 40%
11:19 Throughput of Russian seaports in 11M'2019 grew by 2.7% to 766.8 million tonnes of cargo (detalization)
11:12 First LNG bunkering delivered concurrent cargo operations in port of Amsterdam
10:59 Port of Long Beach cargo volumes dip 3.5% in November 2019
10:54 Navigation season of 2019 is over on Russia’s IWW with shipping closed in Azov-Don Basin
10:30 MABUX: Bunker market this morning, Dec 11
10:18 Swedish businesses informed about benefits of Latvian transport corridor
09:51 Bunker prices show no certain trend at the port of Saint-Petersburg, Russia (graph)
09:32 Brent Crude futures price is down 0.62% to $64.93, Light Sweet Crude – down 0.52% to $58.93
09:15 Baltic Dry Index is down to 1,528 points

2019 December 10

18:10 UN Climate Conference – ICS embraces 4th Propulsion Revolution
17:56 Cargo turnover within Volga-Don Basin of Russia’s IWW in navigation season of 2019 fell by 9.7% to 14.452 million tonnes
17:34 APG and TRIG acquire 100% interest in Merkur Offshore Wind Farm
17:19 Northern Fleet cruiser Marshal Ustinov moves to Northern hemisphere
16:03 Hapag-Lloyd announces rates from East Asia to North Europe
15:52 Baltic States aim to implement Rail Baltica project in rapid and coordinated way
15:34 Damen signs contract with EMS Offshore to supply new Shoalbuster 2711
15:03 COSCO SHIPPING signs strategic cooperation agreement with State Power Investment Corporation
14:31 GTT notified by Hudong-Zhonghua Shipbuilding for the tank design of an LNG bunker vessel for MOL