Nordic Tankers and Clipper Group join forces to establish major Danish tanker operator

26 November 2009

Nordic Tankers A/S has signed a conditional agreement under which the company will acquire parts of the chemical tanker operations of Clipper Group A/S and Clipper will become a major shareholder of Nordic Tankers. The agreement implies a shift in Nordic Tankers’ strategy, as the company will change from being a tonnage provider to becoming a global operator of some 70 chemical and product tankers with an organisation of about 120 employees. The agreement is expected to be closed in early January 2010.

The transaction will result in a major Danish tanker operator with strong competencies in commercial and technical operation of chemical and product tankers. Following the combination, Nordic Tankers will have a strong platform for meeting the challenges that have characterised the markets throughout the past year and a solid base for taking part in the consolidation of the chemical tanker market expected to take place in future.

Nordic Tankers and Clipper hosted a teleconference and webcast in connection with the announcement. Click here to see and hear the presentation.

An accompanying presentation is available here

The official company announcement can be downloaded here