Eitzen Board Recommends Move To Bermuda

February 19, 2015

Eitzen Chemical today [Feb 19] issued a letter [PDF] to its shareholders recommending that they accept an exchange offer that will see the company move to Bermuda, saying it is “important for the group to operate under favorable, stable and predictable legislative and regulatory conditions.”

“Team Tankers International Ltd. is a company established by Eitzen Chemical with the sole purpose to move its operations to Bermuda,” the letter said.

“This is desirable as the new owners is substantially non-Norwegian and it is important for the group to operate under favorable, stable and predictable legislative and regulatory conditions.”

“The Board of Directors of Eitzen Chemical ASA has concluded that the voluntary offer is in the best interest of Eitzen Chemical and its shareholders and unanimously recommends shareholders in Eitzen Chemical to accept the offer,” the letter adds.

According to the company’s website, Eitzen Chemical ASA is a “leading marine chemical and related products transportation company with a sailing fleet of 47 vessels” that transports a “wide variety of cargoes such as organic chemicals, non-organic chemicals, clean and dirty petroleum products, vegetable oils and lube oils.”

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Comments (6)

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  1. swing voter says:

    JOBS? JOBS? JOOOOOOOOOOOBBBBBSSSSSSSS!!!!!!!!!

  2. Concerned says:

    God is moving in His time for this Island best believe it

  3. this is without a doubt says:

    No jobs. What do you think, they’re going to open a factory or something?

    Just a little red tape to avoid paying income tax in their country.

    • Kangoocar says:

      @this is without a doubt, you without a doubt cannot be considered anything but, an idiot!!!!

  4. nicky says:

    Fantastic news!

  5. Bermuda123 says:

    Thanks Eitzen for your confidence in ?Bermuda and welcome.