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Odfjell expands in US

Odfjell expands in US
Odfjell Terminals has signed Letter of Intent to purchase Chem-Marine Corporation of South Carolina, USA for under $10m.

Chem-Marine owns a long term land lease on a 25.3 acre site adjacent to Odfjell's own North Charleston site.

The property has a 250 mtr deep-water front and a 12.5 mtr draft berth, with dedicated stainless steel lines connected to 12,800cu m of storage in two carbon steel tanks.

Currently the site handles alumina carrying vessels for Alcoa, with the cargo subsequently carried in land daily by rail for processing.

Since June of this year, Odfjell's tank terminal business is 49% owned by US private equity firm Lindsay Goldberg; the acquisition will be made through their Joint Venture company Odfjell Holdings (US) Inc.