ODFJELL announces the formation of Odfjell Euroceanica As, a 50/50 Joint Venture between Odfjell SE and Euroceanica Ltd.
The J/V will trade all vessels currently operated by Crystal Pool and Odfjell Europe in the European short sea market.
The J/V will commercially manage and operate a fleet of 14 stainless steel vessels under the name of Crystal Pool.
The combined fleet and know-how of both organizations will add value, enhance flexibility and efficiency to customers by utilizing the Crystal Pool market position in Baltic-NWE, complementing Odfjell Europe position at the Continent and in the Mediterranean. The new Crystal Pool set-up will open up for possibilities to offer combined services from Baltic to and from the Mediterranean, and give extensive world-wide coverage via the global presence and services of Odfjell Tankers.
Existing contracts and commitments with all respective customers will remain unchanged. The new J/V looks forward to starting renewal dialogues of existing contracts as well as discussing new contracts and commitments for 2012 and beyond.
The J/V will be fully operative as from 01 September 2011, working out of two locations, Helsinki, Finland and Bergen, Norway.
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Source: ODFJELL, August 18, 2011.