Merger of Fairfield Chemical Carriers into MOL Chemical Tankers
February 25, 2025
MOL Chemical Tankers Pte. Ltd. (MOLCT) today announced that the merger of Fairfield Chemical Carriers Pte. Ltd. (FCCSP) into MOLCT is intended to take effect on or around April 1, 2025, subject to shareholders’ approval.
The merger follows MOLCT’s acquisition of all shares of FCCSP on March 1, 2024, and the subsequent operation of FCCSP as a wholly owned subsidiary under the name of ‘Fairfield Chemical Carriers.’
As part of the merger, all assets and contracts of FCCSP will be transferred to MOLCT, with MOLCT assuming full responsibility for their fulfillment. The combined businesses will operate under the unified brand name, ‘MOL Chemical Tankers.’
Through the combined business platforms, MOLCT aims to enhance operational efficiency and provide flexible and enriched services to stakeholders.
“This merger marks a significant strategic milestone, enhancing MOLCT’s service network while maintaining the exceptional quality our customers have come to rely on. The integration of our fleets will not only provide operational flexibility but also drive unprecedented efficiency in our services,” said Akira Sasa, MOLCT’s CEO.
Effective from the date of the merger, there will be changes to the names of the following companies, reflecting the united brand ‘MOL Chemical Tankers’:
|
|
Current Company Name |
New Company Name |
|
Singapore |
Fairfield Chemical Carriers Pte. Ltd. |
MOL Chemical Tankers Pte. Ltd. |
|
Wilton |
Fairfield Chemical Carriers LLC |
MOL Chemical Tankers North America LLC |
|
Rotterdam |
Fairfield Chemical Carriers B.V. |
MOL Chemical Tankers Europe B.V. |
|
Tokyo |
Fairfield Japan Ltd. |
MOL Chemical Tankers Japan Co., Ltd.*1 |
|
Durban |
Fairfield Chemical Carriers South Africa (Pty) Ltd |
MOL Chemical Tankers South Africa (Pty) Ltd *2 |
*1 Fairfield Japan Ltd. will transfer its employees and assets to MOL Chemical Tankers Japan Co., Ltd. and is expected to be dissolved thereafter.
*2 A Joint Venture company (MOL Chemical Tankers Pte. Ltd. (49%), Thembani Shipping (Pty) Ltd. (51%) as of April 1, 2025)
“Both companies have been working diligently to ensure a smooth and seamless transition, and we are excited about the opportunities this merger brings to our stakeholders. Your continued support and collaboration are deeply appreciated,” Sasa added.
“As a united global team, we are fully committed to delivering exceptional value and further strengthening the partnerships with all stakeholders.”
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