Essberger Tankers to acquire Crystal Nordic

4 January 2018 (Last Updated January 4th, 2018 11:00)

Germany-based chemical tanker operator John T Essberger's unit Essberger Tankers has entered a deal with Nordic Tankers and Embarcadero Maritime to purchase Danish company Crystal Nordic for an undisclosed sum.

Germany-based chemical tanker operator John T Essberger’s unit Essberger Tankers has entered a deal with Nordic Tankers and Embarcadero Maritime to purchase Danish company Crystal Nordic for an undisclosed sum.

Embarcadero Maritime is a joint venture (JV) between Borealis Maritime and KKR.

Crystal Nordic currently owns a fleet of 14 ships with capacities ranging from 4,000dwt and 12,000dwt and primarily serves customers in Northern Europe.

"We are of the opinion that John T Essberger will be a very good owner of Crystal Nordic and thus enhance the service and flexibility offered to the customers."

The company was established in 2015 following the merger of Nordic Tankers’ inter-European stainless-steel chemical tanker business and Crystal Pool.

Crystal Nordic is equally owned by Nordic Tankers and Embarcadero Maritime.

Essberger Tankers’ current fleet of ships comprises a total of 23 vessels, which are designed to carry different types of chemicals.

Crystal Nordic chairman Per Sylvester Jensen said: “We are of the opinion that John T Essberger will be a very good owner of Crystal Nordic and thus enhance the service and flexibility offered to the customers.”

Nordic Tankers Trading previously unveiled a plan in March last year to establish a new company in partnership with V.Group with the aim of achieving growth and investment in its Copenhagen, Denmark-based ship management operations.

The proposed company, Dania Ship Management, will be based at Nordic Tankers’ Copenhagen headquarters.

The company is expected to primarily focus on investing in specialist ship management operations across Scandinavia.