Norway's Jo Odfjell is happy with its investment in compatriot Thor Dahl Shipping, according to chairman Tore Hopen.
Last year, the Bergen-based chemical tanker owner purchased a large stake in Thor Dahl, a Sandefjord-based containership company.
Pleased with the surging boxship market, Hopen said Jo Odfjell has no further plans to integrate its fleet with Thor Dahl.
“We do not see any immediate relationship between our ownership stake in Thor Dahl and our product tankers,” he said.
Thor Dahl, with a history dating back to 1887, has a fleet of three containerships that are on average 20 years old.
For many years, Thor Dahl has been controlled by Tom Bergesen, the younger brother of former Bergesen DY boss Morten Bergesen. His company — Gluteus — controlled 87.5% of the shares until 2018.
With the entry of Jo Odfjell as a major shareholder, Tom Bergesen’s stake is reduced to just over 40% — but he is still chairman.
Bergesen said questions related to Thor Dahl should be directed to its chief executive, Henning Torp.
Torp declined to comment on relations with Jo Odfjell but said the company is concentrating on the three ships in its fleet.
“We are investing in the elderly ladies that we own today and that are trading in an excellent way,” he said.
Jo Odfjell is controlled by Johan Odvar Odfjell, who inherited the company from his father, Abraham, in 2005.
In 2016, the outfit sold its chemical tanker fleet to competitor Stolt-Nielsen for $575m. It is currently listed with 10 product tankers, of which six are LR vessels and four MR tankers.
