Nordic Business Report-April 27, 2006-Yara International ASA sells ammonia fleet to Bergesen Worldwide Gas ASA
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The Norwegian mineral fertilisers producer Yara International ASA said on Thursday (27 April) that it has signed a heads of agreement to sell its LPG/ammonia fleet to the shipping group Bergesen Worldwide Gas ASA.
The proposed USD347m deal covers seven fully-owned and three chartered-in vessels.
The parties have also signed a partnership agreement under which Bergesen Worldwide Gas will provide shipping services to Yara international.
"Our shipping activities have, and will continue to represent an important competitive advantage for Yara for many years. While commercial control remains a core activity for Yara, ownership of shipping capacity is not," commented Thorleif Enger, president and CEO of Yara International.
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