The 50 – 50 joint venture MOL Viken between the Japanese and Norwegian shipowners will take over five crude oil shuttle tankers owned by Viken Shipping and on long-term charter to Transpetro in Brazil.
MOL said the two companies were aiming for long-term cooperation making joint investments in high quality vessels. “Although the initial investment is in crude oil shuttle tankers, the joint venture is not intended to be restricted to this marked segment only,” it added.
The joint venture will be headquartered in Bergen. It is part of a move by MOL to diversify its earnings base into the offshore sector.
“Offshore business including shuttle tankers will become the backbone of MOL operations as it seeks to secure mid-and long-term contracts that generate stable profits,” the company said.
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