Stolt-Nielsen has snapped up the chemical fleet of rival Jo Tankers in a $575m deal.
Oslo-listed Stolt has bank debt in place to take over the 13-strong trading fleet and a 50% stake in eight newbuildings.
Niels Stolt-Nielsen, chief executive of Stolt-Nielsen, said: "The transaction covers the tonnage replacement needs of our current chemical tanker fleet for the next several years.
“While giving us some operational savings, it adds new trade routes to our service offering, thus expanding our presence on key trade lanes and enabling us to better serve the needs of our global customer base."
'Better
