Private equity giants sell chemical tanker joint venture to Essberger

Private equity giants sell chemical tanker joint venture to Essberger

Embarcadero Maritime, a joint venture between Borealis Maritime and KKR, and Nordic Tankers have signed and closed an agreement to sell their jointly held chemical tanker company Crystal Nordic to John T. Essberger.

Essberger Tankers is a well-known Hamburg owner and operator of 23 chemical tankers.

Crystal Nordic was established following the combination of Nordic Tankers’ inter-European stainless steel chemical tanker business with Crystal Pool in 2015. Crystal Nordic is a Danish headquartered chemical tanker operator, owning 14 ships between 4,000 and 12,000 dwt, serving customers primarily in Northern Europe. The private equity backed venture saw KKR join hands with Nordic Tankers, which is a Triton Fund III Portfolio Company.

The parties have agreed not to disclose any financial information.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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