TheOslo-listed company announced Friday that it had teamed up with affiliates ofBreakwater Capital and Oak Hill Advisors.

Inaddition, Odfjell said it has exercised its option to build four more 22,000-cbmLPG/ethylene gas carriers at China’s Nantong Sinopacific.

The ships are costing $50m each, or $200m intotal, with deliveries scheduled for between September 2016 and June 2017.

Breakwaterand Oak Hill have jointly agreed to invest about $50m as consideration for a 50%equity interest in Odfjell’s LPG/ethylene business.