Stolt-Nielsen began planting the seeds a year ago for what turned into a $575m summer purchase of Jo Tankers’ chemical fleet, its chief executive says.
Oslo-listed Stolt is taking 13 trading ships and an interest in eight newbuildings, which are part of a joint-venture with Tokyo Marine, it announced today.
Niels Stolt-Nielsen, chief executive of Stolt-Nielsen, tells TradeWinds negotiations with Jo began around Easter this year after the Bergen-based company undertook a strategic review and decided to sell the fleet in an effort led by Danske Bank.
“It’s
