Private equity firm Triton has sold chemical tanker business Nordic Tankers to MOL Chemical Tankers, a subsidiary of Mitsui OSK Lines, a large shipping company.
Nordic Tankers is a chemical tanker company that transports specialised liquid products in bulk for large chemical producers and oil businesses. It operates mainly in trade lanes in the Americas, trans-Atlantic and Europe.
Triton acquired the company in 2012 and since then has recruited a new management team, invested in new vessels and established the Crystal Nordic joint venture with Borealis Maritime, which was sold separately last year.
Peder Prahl, Director of the General Partner to the Triton fund, said: "We would like to thank the management team, the employees and all other stakeholders for their contributions to Nordic Tankers’ development during Triton’s ownership. We view this as an appropriate time for a long term industrial owner to continue developing the company further."