Odfjell Enters into Agreement to Form LPG/Ethylene Shipping Joint Venture

摘要

Bergen— Odfjell has entered into an agreement with Breakwater Capital and Oak Hill Advisors to establish a liquefied petroleum gas (LPG)/ethylene shipping joint venture. Subject to customary closing conditions, Odfjell and the partners have each agreed to contribute about $50-million to finance the growth of the joint venture. The partners interest will total 50%. Completion of the joint venture agreement is expected "within the next three months," Odfjell said.