MOL Acquires Fairfield Chemical Carriers in $400 Million Deal

Mitsui OSK Lines (MOL), the Japanese shipowner, has agreed to acquire Fairfield Chemical Carriers, a chemical carrier company based in Singapore. The deal, valued at $400 million, will give MOL full ownership of Fairfield Chemical Carriers and expand its fleet from 85 vessels to 121 tankers. MOL Chemical Tankers’ CEO, Akira Sasa, stated that the businesses of MOL Chemical Tankers and Fairfield Chemical Carriers are highly complementary, and the acquisition will bring greater value to stakeholders. Fairfield-Maxwell CEO, Anthony Dowd, believes that merging with MOL Chemical Tankers will provide the resources for the business to succeed and grow. MOL aims to strengthen its safety, digital transformation, human capital, and environmental strategies through this acquisition.

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