Nordic Shipholding A/S has been informed that Pacific Alliance Group (“PAG”), which controls Nordic Shipholding’s majority shareholder, Nordic Maritime S.á r.l., has entered into an agreement with BW Group regarding the establishment of a joint venture to target a consolidation in the product tanker market.
Nordic Shipholding is not a party to the agreement. It is too early to say what the consequences of this agreement will be, if any, for Nordic Shipholding. Nordic Shipholding will discuss this with PAG in the time to come.