The European Commission has cleared a chemical tanker merger between KKR-backed Borealis Maritime and Denmark’s Nordic Tankers.

Crystal Nordic, the joint venture created through KKR’s Embarcadero Maritime (EM) shipowning division with its Danish partner, will operate 15 vessels.

The European Commission said EM and Nordic would combine some of their stainless steel chemical tankers business in Europe, with focus on North-Western Europe and the Baltic region.

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