EMEA News
Eitzen Plans Name Change, Says "We're Now Able to Grow"
Norway's Eitzen Chemical ASA (Eitzen) last week said it is now ready to grow following a debt restructuring plan, Shippingwatch reports.
"The good thing for us now is that we can go out and show other companies that we're well-equipped," said the company's CEO, Jens Grønning.
Eitzen, whose fleet includes 36 owned vessels and an additional 11 charters, is now in a stronger position than it has been for some time, he said.
"Our balance and debt are now among the lowest in the industry, and this gives us some interesting opportunities, as we're now able to grow organically as well as [by acquisiton]," added Grønning.
And the company is also positive on the outlook for the chemical tanker market, saying the fundamental conditions are generally good for the sector.
Eitzen plans to change its name within weeks to Team Tankers International as Grønning hopes the market will see the company has begun "a new chapter."
Last month Norwegian shipping industry figures were said to have signed up to a Green Coastal Shipping programme aiming to make the country's fleet the world's most environmentally friendly.
