Great Chemistry

On Monday, Odfjell SE signed a 50/50 joint venture agreement with National Chemical Carriers Ltd. (“NCC”) to establish a company in Dubai to commercially operate their respective fleets of IMO 2/3 chemical tankers of 40,000 DWT and above. The vessels will trade in a joint pool carrying chemicals, vegoils and clean petroleum products worldwide, emphasizing the growing exports out of the AG. NCC was established in 1990 and is 80% owned by the National Shipping Company of Saudi Arabia and 20% by Saudi Basic Industries Corporation.

The company will begin operations early next year with 15 vessels of nearly

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