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Stolt Tankers buys five secondhand chemical tankers

Stolt-Nielsen’s tanker business Stolt Tankers has agreed to purchase five chemical tankers from Chemical Transportation Group (CTG) for trading in the Stolt Tankers Joint Service.

The five ships, which are all 26,000 dwt with stainless steel cargo sections, were built in China in 2016 and 2017.

The vessel purchase transaction is expected to be completed between December 2020 and February 2021.

“This acquisition is an excellent opportunity for Stolt Tankers to replace ships being retired in the next few years, lowering our fleet age profile with competitively priced ships that can trade in any of our deepsea lanes,” said Lucas Vos, president of Stolt Tankers.

“Newer, fuel-efficient ships help us reduce our carbon footprint while buying existing tonnage means capacity is not added to a market that doesn’t need it. In a cyclical industry like ours, buying the right ships at the right price is the path to financial sustainability,” Vos added.

Financial details of the deal were not disclosed.

Stolt Tankers has over 70 deepsea ships deployed globally, as well as coastal fleets in Asia and inland barging services in Europe and the US Gulf.

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