Oslo-listed Stolt-Nielsen has completed 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, representing an enterprise value of $575m.
Stolt Tankers had previously stated that the acquired ships would satisfy the tonnage-replacement needs of the company’s fleet for the next several years and add new trade routes that enhance the company’s global service capabilities.