27 August 2009 01:02 [Source: ICIS news]
HOUSTON (ICIS news)--Singapore shipper Navig8 and US-based Sokana Chartering are combining their fleets to form a 100-vessel chemical tanker firm, the companies said on Wednesday.
Employees at the firms confirmed that a joint venture was being formed but would not comment beyond a press release.
The joint venture, Navig8 Chemicals, would begin operating on 1 October and combine Sokana's management and operations with Navig8's larger fleet, according to the release.
Sokana, of Westport, Connecticut, manages 30 ships between 8,600 deadweight tonnes (dwt) and 29,000 dwt. Navig8's 70 vessels range from 35,000 dwt to 114,000 dwt.
The new company would have four offices, in Westport, London, Singapore and Shanghai.
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