Gulf Stolt Tankers, the joint venture between Gulf Navigation and chemical tanker giant Stolt-Nielsen, could be terminated.
The Dubai-based partner is circulating two of the four medium-range (MR) tankers in the venture for sale.
In April, Gulf Navigation bought Stolt-Nielsen out of Gulf Stolt Shipmanagement, which was started in 2009, but without revealing financial details.
The joint venture company owns four sisterships built at South Korea’s SLS Shipyard, including the 46,000-dwt parcel tankers Stolt Gulf Mishref and Stolt Gulf Mirdif (both built 2010) that are now being tested in the market.
