Stolt-Nielsen and Oiltanking Announce Joint Venture

Monday, March 20, 2006
Stolt-Nielsen announced an agreement in principle between Stolthaven Terminals BV, a wholly-owned subsidiary of SNSA, and Oiltanking GmbH whereby Stolthaven Terminals BV will acquire a 50% interest in Oiltanking Antwerp N.V. for a total consideration of approximately $64 million, which is paid partly in cash and partly by assumption of outstanding debts. The agreement is subject to regulatory approval and will be retroactive to January 1, 2006. The terminal will be renamed Oiltanking Stolthaven Antwerp and will continue to operate as an independent liquid and gas storage provider. Oiltanking Stolthaven Antwerp is located on the right bank of the Schelde River in the world's second-largest petrochemical complex that has an infrastructure long established and dedicated for marine and land logistics. The terminal has a capacity of 500,000 cubic meters of tank storage serving the liquid chemical, chemical gas, and petroleum markets. The terminal is also linked to the surrounding industry by 26 pipelines. The terminal, a specialty chemical hub in the Antwerp Rotterdam Amsterdam ("ARA") region, is now being expanded to serve the growing needs of its customers. The expansion includes the building of 21 new chemical tanks, increasing the existing chemical capacity by 50,000 cubic meters. Two new loading racks for trucks and railcars and a new finger pier with four berths also are being constructed. The new finger pier will include two berths designed for parcel tankers and will allow the facility to bring in ships up to 125,000 deadweight tonnes. "This is a logical investment for Stolthaven Terminals within our strategy of expanding our terminal network to serve our customers better as well as facilitating turnaround and improving the utilization of our parcel tanker fleet," said Walter Wattenbergh, Managing Director of Stolthaven, SNSA's terminal unit. "Oiltanking Stolthaven Antwerp will be the hub for our growing transportation and storage business in Europe." "The joint venture with Stolthaven Terminals will allow us to further grow our position in the ARA chemical storage market," added Gust Spaepen, Managing Director of the Oiltanking Group. "Together with Stolthaven Terminals, we will be able to further improve the terminal's performance, while also allowing us to better serve our existing customers and add new customers."

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Xeneta: No Silver Lining for Container Shipping in Brexit Storm

Xeneta, a  global benchmarking and market intelligence platform for containerized ocean freight, believes that the UK’s decision to leave the European Union will

PALFINGER Finalizes Harding Acquisition

The PALFINGER Group closed the acquisition of 100 percent of the shares in Herkules Harding Holding AS, i.e. the globally operating Harding Group, supplier of lifesaving

ClassNK Amends IGC Code Rules and Guidance

Classification society ClassNK has amended its Rules and Guidance for the Survey and Construction of Steel Ships in response to the latest industry developments,

Ship Repair & Conversion

Solstad CSV Gets Propulsion Overhaul at Gibdock

Gibraltar’s Gibdock shipyard has completed its scope of work on Solstad Shipping’s Normand Cutter, a 127-meter-long, 10,979grt construction support vessel (CSV)

Tanker Allision on the Piscataqua River

The U.S. Coast Guard says it is continuing to monitor the condition of the chemical tanker Chem Venus, after it allided with three unoccupied, moored sailboats

Damen Signs MOU with Sydney City Marine

Damen Shipyards Group and Sydney City Marine have signed a Memorandum of Understanding (MOU) outlining the future cooperation of the two companies concerning the

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0873 sec (11 req/sec)