Mitsui O.S.Ok. Traces (MOL) has, by means of its subsidiary MOL Chemical Tankers, accomplished the acquisition of Fairfield Chemical Carriers, creating one of many world’s largest multi-segregated chemical tanker fleets.
The acquisition, valued at $400 million, relies on a share switch settlement signed on the finish of September 2023, which has been accredited by the related authorities beneath competitors regulation.
The transaction is in step with MOL’s plan to proactively spend money on chemical tanker enterprise, as the corporate expects to see the expansion on this space.
Via the acquisition, MOL Chemical Tankers will combine its fleet of 81 multi-segregated chemical tankers with chrome steel tanks with the 36 Fairfield Chemical Carriers vessels, making it one of many largest such fleets on the earth.
“Efficient March 1, 2024, Fairfield Chemical Carriers joined our group. With the combination of Fairfield Chemical Carriers, the MOL Chemical Tankers has expanded its enterprise base and might now provide a wider vary of companies to its clients. Collectively, each MOL Chemical Tankers and Fairfield Chemical Carriers will try to supply our clients superior service in all elements,” mentioned Akira Sasa, MOL Chemical Tankers’ CEO.
“We imagine that this share switch will result in additional development for each MOL Chemical Tankers and Fairfield Chemical Carriers. We want the brand new MOL Chemical Tankers each success,” added Anthony Dowd, Fairfield-Maxwell CEO.
