Singapore-based MOL Chemical Tankers (MOLCT) has bought a 20% stake in Rotterdam-headquartered tank container operator Den Hartogh Holdings.
MOLCT is an operating subsidiary of Mitsui OSK Lines, and Den Hartogh is well established in the global tank container business. The deal is MOLCT’s second significant transaction in a month, after it purchased Hellerup (Denmark)-based Nordic Tankers in January.
While the Nordic Tankers transaction expanded MOLCT’s core business in the bulk liquid chemicals shipping and depot sector and increased its fleet to over 80 vessels, the Den Hartogh deal gives the company a significant operating presence in the value-added supply chain solutions and door-to-door delivery segment. Currently, Den Hartogh operates over 19,000 tank containers and these carry mainly liquid chemicals and gases.
MOLCT views the shareholding in Den Hartogh as strategic. “As capital and business partners, Den Hartogh and MOLCT will further develop a mutual global customer network and strengthen their competitiveness as service providers in the global liquid chemical logistics and supply chain business,” said a MOLCT press statement.
Specifically, the two parties will develop and streamline their respective chemical logistics services and use their mix of tank containers, parcel chemical tankers and a terminal that is being built in Antwerp, to offer their customers a full suite of cost-effective and very safe services.
In addition, MOLCT and Den Hartogh will be in a much stronger position to differentiate their services from their competitors.
Commenting on the arrangement, Pieter Den Hartogh, group managing director of Den Hartogh, said: “We are truly delighted about this alliance and innovation in chemical logistics. This strategic partnership will combine expertise, assets and entrepreneurship to offer supply chain and end-to-end logistic solutions for our customers.”