Shippingwatch interview: Odfjell hesitates over Feringa's open invitation

The below is an excerpt of an interview in Shippingwatch, published 31st July 2018.
Written by: Tomas Kristiansen. 

While Odfjell's CEO Kristian Mørch says that “it is natural” to consider consolidation in the tanker market, he does not see the Norwegian carrier as the obvious partner to Team Tankers after CEO Hans Feringa’s call for mergers in the industry. 

(...) Odfjell's CEO Kristian Mørch also believes in more consolidation in the industry, which has been squeezed for years due to too many vessels to an otherwise rather nice economic growth. However, he does not see Team Tankers and Odfjell as an obvious match.

“It is natural to think about consolidation. We have done that ourselves, including with the deal with Sinochem and CTG, where we took over the operation of eight vessels, so right now I do not see obvious gains via a merger for our share.” 

(...) The Bergen-based carrier is also in the process of expanding its fleet, where 2017 saw the expansion of the fleet with 28 vessels which will be delivered over the coming years on an ongoing basis.

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