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.
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections