Another Merger, Similar Effect

In a masterstroke, another step on the road to consolidation took place when Nordic Tankers (“Nordic”) agreed to acquire parts of the chemical tanker operations of Clipper Group A/S (“Clipper”) with Clipper becoming a major shareholder of Nordic. The transaction is transformational with Nordic evolving beyond simply being a tonnage supplier to a major global owner/operator of chemical and product tonnage. The resulting platform, which now includes strong competencies in commercial and technical management of chemical and product tankers, will be able to meet the challenges that have characterized the market throughout the year as well as provide a base for participating in the consolidation of the chemical tanker market going forward.

This is only an excerpt of Another Merger, Similar Effect

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.