Connecticut-based chemicals and tanker brokerage Odin Marine Group has signed a letter of intent to combine operations with Rotterdam's RVB Company in Europe within the year.

Odin-RVB Europe BV will operate as a full member of the Global Odin Marine Group, with a target set for integration of the offices in the first quarter of 2020.

Odin Marine Spain and RVB Shipbrokers Singapore also will be part of the integration, the two companies said in a joint statement Friday.