Norwegian owner JL Mowinckels Rederi has concluded its first deal this year by moving into the stainless-steel chemical tanker market.

In a 50:50 joint venture with investor Harald Moraeus-Hanssen, the company has purchased two Japanese-built, 19,900-dwt tankers (both built 2006).

Mowinckels chief executive Geir Belsnes confirmed the deal but declined to reveal the price.

VesselsValue estimates the Fukuoka-built tankers to be worth $11m each.