Stolt-Nielsen buys out Odfjell stake in tanker joint venture
Oslo-listed Stolt-Nielsen has completed the acquisition of the remaining 50% stake in a chemical tanker joint venture it formed with competitor Odfjell.The company has revealed in its most recent financial results that it bought the remaining stake in the Hassel Shipping 4 joint venture.The JV has a fleet of eight 32,800 dwt vessels built between 2016 and 2018 – the <em>Stolt Alm</em>, <em>Stolt Apal</em>, <em>Stolt Calluna</em>, <em>Stolt Ebony</em>, <em>Stolt Lerk</em>, <em>Stolt Lind</em>, <em>Stolt Maple</em>, and <em>Stolt Palm</em> – registered in Portugal and the UK.This was not the only acquisition in the quarter, as the company also acquired an additional 48.8% interest in Avenir LNG in which it now holds a 95.8% stake.On March 5, Stolt-Nielsen launched a compulsory offer for the remaining 4.2% of Avenir shares, which is expected to be completed by the end of this month.