Odfjell sells majority stake in Jiangyin terminal to Yangzijiang Shipbuilding

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.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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