India’s Siva Group has sold out of a chemical tanker joint venture with partner Bocimar in a retrenchment from the sector.
The deal with Bocimar leaves the Belgian shipowner as the sole holder of the 10-year time charters on six modern stainless-steel chemical tankers owned by Japanese interests. As is common in such Japanese charters, the agreements include purchase options.
The ships include the 33,600-dwt Siva Mumbai (built 2010), Siva Ghent (built 2011) and JBU Oslo (built 2010), market sources say.
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