Norwegian owner Odfjell has taken full control of its South American chemical tanker joint venture with Chile’s CSAV.
It has bought the remaining 50% share of Odfjell Y Vapores, which owns the 16,000-dwt stainless vessels Bow Andes and Bow Condor (both built 2000).
“By this we have taken full control of our west coast South America trades, and will be able to further consolidate our activities in the region,” it said.
It is spending $6.5m on the deal.
The venture mainly serves the mining industry in Chile and Peru. It was founded in Santiago, Chile, in 1997.
Odfjell also said that as part of its cost-cutting and fleet optimisation project, the 6,000-dwt tanker Bow Master (built 1999) will be bareboated out this month.
The charterer has a purchase obligation at the end of the three-year deal.
