Norwegian shipowner EGD Shipholding is expanding it fleet of stainless steel chemical tankers by purchasing buying two Japanese-constructed vessel.

Shipbrokers reported that the Bergen-based company has purchased the 33,600-dwt Kitanihon-built Liberty and Argent Bloom (both built 2009) for $38m in total.

This is above the combined $33.6m that VesselsValue estimates the ships are worth.

The UK-based valuation platform shows the ships' value has been stable for several months, though they were worth a combined $37.7m this time last year.

EGD shipping chief Magne Ovreaas confirmed the purchase of the Kitanihon Shipbuilding-constructed vessels but would not comment on the price.

The pair’s sellers is less clear. Both the Liberty and the Argent Bloom used to be controlled by Japanese interests.

At some point as early as 2019, they passed under management, and possibly also ownership, of Greece’s Alberta Shipmanagement.

In November 2020, Athens-based Alberta put both ships into Orca Tankers, a pool managed by Womar Logistics.

Under its new EGD ownership, the duo will be commercially managed by a pool run by Bergen-based Odfjel.

EGD owns a similar chemical tanker, the 33,000-dwt Bow Hector (built 2009).

The company purchased the Shin Kurushima-built vessel in February last year from Nisshin Shipping for $19m and it’s commercially operated by Odfjell as well.

Ovreaas told Norwegian financial daily Finansavisen that he is optimistic about the prospects for chemical tankers, considering a very low global newbuilding orderbook for that class of ship.

EGD also wants to strengthen its participation in Odfjell, he said.

The shipowner, which is owned by Espen Galtung Dosvig, also has six product and chemical tankers operated by Bergen-based Champion Tankers and is the second largest investor in Oslo-listed Klaveness Combined Carriers, with a 18.3% stake.

Alberta is listed with a fleet of nine ships made up of five bulkers and four tankers with an average age of 12 years.

The company has not been very active in the sale and purchase market in the later years, it last purchase was the 176,000-dwt bulker Lowlands Erica (built 2007) for $15m in August 2020.