Odfjell sells stake in Iranian chemical terminal

Odfjell sells stake in Iranian chemical terminal

Norwegian chemical tanker shipping and terminal operator Odfjell has sold its 35% indirect ownership share in the Exir Chemical Terminal in the port of Bandar Imam Khomeini to its joint venture partner Oiltanking GmbH.

Odfjell received a total of $6m from the transaction.

Exir Chemical Terminal was jointly established by Odfjell (35%), Oiltanking GmbH (35%) and Nuian (30%), a private Iranian investor, in January 2010 and it is the first independent tank terminal for bulk liquid chemicals in Iran.

Upon completion of the deal, Oiltanking will become the controlling shareholder of the terminal with a 70% stake.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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