Odfjell To Acquire Bow Architect Tanker For US$16.7 Million

Published: Mar 13 2017
Deal Summary

Odfjell SE, a shipping and tank terminal company, agreed to acquire a chemical tanker, namely Bow Architect, for a purchase consideration of US$16.7 million.

Bow Architect is a 2005-built, Panama-flagged chemical tanker. The tanker consists of 28 cargo tanks. The tanker has a deadweight tonnage of 30,058 tons and gross tonnage of 18,405 (net tonnage of 8,691) tons.

The transaction is a part of Odfjell's fleet renewal and growth strategy.

Kristian Morch, CEO of Odfjell SE, said, "These charter agreements are further steps in the renewal program of our large sophisticated chemical tankers. We believe the timing is good, and these charter agreements are a capital efficient way to achieve part of our replacement- and growth targets.”

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