Odfjell SE signs final agreement with CTG

Odfjell SE signs final agreement to acquire 5 stainless steel newbuildings and formation of pool of 15 x 25,000 dwt chemical tankers.

Reference is made to the stock exchange announcement of 16 June 2017, in which Odfjell SE signed a term sheet with Chemical Transportation Group, Inc ("CTG"), to acquire 5 stainless steel newbuildings and to form a pool of 15 x 25,000 dwt vessels.

We are pleased to announce that the transaction has now been signed and completed.

Odfjell SE will take delivery of the first vessel on 14 July 2017 and the remaining 4 newbuildings will be delivered in intervals up until May 2018.

The 5 newbuildings fully owned by Odfjell SE and the formation of the pool are expected to have a positive contribution on Odfjell SE's returns and will strengthen our position and competitiveness in the current state of the chemical tanker market.

Published July 13, 2017

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