Norwegian owner Eitzen Chemical is buying Mosvold Chemical KS for US$12m. The Mosvold Chemical KS fleet comprises the four early nineties built, stainless steel chemical tanker vessels ranging in size from 5,400 dwt to 7,600 dwt. The vessels are on time charter to Italian owner Marnavi until June 2009. A statement says: “Total purchase price for the shares is US12m adjusted for working capital, of which 50% will be settled with Eitzen Chemical ASA shares based on NKr 33 (US$5.34) per share, and the remaining in cash. Final agreement is expected to be finalized during March 2007.”
Meanwhile Eitzen Chemical has reported a Q4 operating result before depreciation (EBITDA) of US$28.3m, down from US$33.2m for proforma Q3 2006. (PQ3).
Meanwhile Eitzen Chemical has reported a Q4 operating result before depreciation (EBITDA) of US$28.3m, down from US$33.2m for proforma Q3 2006. (PQ3).