Odfjell sells majority stake in Jiangyin terminal to Yangzijiang Shipbuilding
Norway’s Odfjell has finalised the sale of its indirect 55% equity interest in Odfjell Terminals (Jiangyin) to Yangzijiang Shipbuilding for a price of around $46m.
Over the past three years, Odfjell has offloaded its stake in chemical terminals in Oman, Singapore and Rotterdam.
“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 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,” said Kristian Mørch, CEO of Odfjell.
Following the sale, Odfjell will continue to operate terminals in Antwep, Ulsan, Dalian Tianjin, Houston and Charleston, while one tank terminal is under development in Changxing Island in China.
