Norway's EGD Shipholding has emerged as the sole owner of a chemical tanker purchased in a February deal.
The diversified Bergen-based company's parent, Espen Galtung Dosvig-owned EGD Holdings, said in its annual report that compatriot Odfjell has taken the 33,000-dwt tanker Bow Hector (built 2009) on a long-term charter.
The charter includes profit share provisions, sources told TradeWinds.
Reports earlier this year indicated that EGD Shipholding and Odfjell, a chemical tanker giant, had teamed up to buy the stainless-steel vessel.
Fleet renewal
This week, brokers said EGD Shipholding paid $19m for the ship, which has added to renewal of the its fleet.
EGD Shipholding wholly owns six more MR tankers that all are operated by compatriot Champion Tankers. One of them, the 47,000-dwt Andrea Victory (built 2005), had been on charter until EGD Shipholding recently declared a purchase option.
As part of its fleet renewal, the company sold the 48,000-dwt Susanne Victory (built 2000) and 46,000-dwt Nina Victory (built 1997) last year.
EGD Shipholding also has stakes in three chemical tankers controlled by Norwegian shiopwner Utkilen and three small gas carriers in the fleet of compatriot Tailwind.
The company holds a 18.3% stake in Oslo-listed Klaveness Combined Carriers, which is listed on the Oslo Axess. Klaveness operates 12 combined carriers that are trading and has another five newbuildings on order and options for four more ships.
EGD Shipholding is the shipping subsidiary of EGD Holding, which is also involved in real estate and financial investments.
EGD Holding has reported a pre-tax profit of NOK 101m ($11.2m) for 2019, down from NOK 125m in 2018.
Operating revenues increased from NOK 1.16bn to NOK 1.32bn.
Dosvig, EGD Holding's chairman and 97% shareholder, said 2019 was a good financial year for the company.
