Mitsui O.S.Ok. Lines (MOL) has, by way 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 authorized by the related authorities below competitors legislation.
The transaction is in step with MOL’s plan to proactively put money into chemical tanker enterprise, as the corporate expects to see the expansion on this space.
Through the acquisition, MOL Chemical Tankers will combine its fleet of 81 multi-segregated chemical tankers with stainless-steel tanks with the 36 Fairfield Chemical Carriers vessels, making it one of many largest such fleets on the planet.
“Effective March 1, 2024, Fairfield Chemical Carriers joined our group. With the integration of Fairfield Chemical Carriers, the MOL Chemical Tankers has expanded its business base and can now offer a wider range of services to its customers. Together, both MOL Chemical Tankers and Fairfield Chemical Carriers will strive to offer our customers superior service in all aspects,” said 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.
