Odfjell Looks to Expand Fleet with $160M Chemical Tanker Newbuild Order

Odfjell announced today they have signed a newbuild contract worth close to USD $160 million with Hyundai Mipo Dockyard for four new 46,000 DWT chemical tankers with an option for four additional vessels at the same prices.

Odfjell notes these new ships will have an eco-friendly and efficient design with an expected delivery between January and July 2014.

The newbuildings will replace a number of old vessels the Company has recycled during recent years.

About Odfjell

Odfjell specializes in the global maritime transportation and storage of bulk liquid chemicals, acids, edible oils and other special products.

Originally set up in 1916, Odfjell pioneered the development of the chemical tanker trades in the middle/late 1950s and the tank storage business in the late 1960s. Odfjell owns and operates chemical tankers in global and regional trades as well as a network of tank terminals.