Stolt-Nielsen Limited to Acquire Storage Terminal

(Press Release)
Friday, July 27, 2012

Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that it reached an agreement to acquire a bulk-liquid storage terminal at Dagenham, Port of London, UK, from Norbert Dentressangle SA. 

 

The completion of the acquisition is subject to the transfer of licenses and permits, and the receipt of necessary approvals to operate the facility.  The transaction is expected to close during the Company's fourth quarter of 2012.  Further terms were not disclosed.
 
 

The terminal occupies 9.4 hectares and consists of 195 tanks with a total capacity of 134,000 cbm and a jetty with a draft of 9.3 meters.  In addition to bulk-liquid storage, services include warehousing, drumming and bulk container filling, laboratory services, blending, dilution and product heating.  The facility has immediate access to the UK's national highway system.
 
 

Commenting on the acquisition, Mr. Walter E. Wattenbergh, President of Stolthaven Terminals, said: "This terminal-our first in the UK-joins Stolthaven's growing global network of bulk-liquid storage facilities.  The Dagenham terminal gives us a foothold in the UK market and will provide added support to the Stolt Tankers' inter-European coastal fleet.  Our initial plans include an immediate upgrade program, with the decommissioning of several old tanks and the construction of new tanks."

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Transocean Prices Initial Public Offering

Transocean Partners LLC, a Marshall Islands limited liability company formed by Transocean Ltd., has announced  the pricing of its initial public offering of 17,

Nordic American Offshore Declares 2Q Dividend

Nordic American Offshore Ltd. announced that its Board of Directors has declared a dividend of $0.45 per common share for the second quarter 2014. This is the same as for the first quarter 2014.

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

Contracts

Former MSC Manager Sentenced on Bribes Charges

Former Afloat Programs Manager at the United States Navy Military Sealift Command (MSC), Kenny E. Toy, was sentenced to 96 months in prison for receiving bribes, the U.

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

Kurdish Crude Lightered, Destination Unknown

Part of a Kurdish oil cargo has been offloaded from a Greek-managed tanker into another tanker in the South China Sea, but mystery surrounds the identity of the

Tanker Trends

Montreal Could Become an Oil Export Hub

Montreal has emerged as an export base for Western Canadian heavy sour crudes as prospects to construct new pipelines to the British Columbia coast, Eastern Canada and U.

Nordic American Offshore Declares 2Q Dividend

Nordic American Offshore Ltd. announced that its Board of Directors has declared a dividend of $0.45 per common share for the second quarter 2014. This is the same as for the first quarter 2014.

Fifth Tanker of Iraqi Kurdish Oil Loading in Turkey

The fifth cargo of crude oil from Iraqi Kurdistan was being loaded at Turkey's Mediterranean port of Ceyhan on Thursday and the tanker was scheduled to depart on Friday, Turkish energy officials said.

Ports

Redwood City Sees Cargo Movement Boost

Port of Redwood City reports 19% increase in cargo movement; highest since 2006 and third highest in modern history Reflecting a significant increase in construction

Montreal Could Become an Oil Export Hub

Montreal has emerged as an export base for Western Canadian heavy sour crudes as prospects to construct new pipelines to the British Columbia coast, Eastern Canada and U.

Fifth Tanker of Iraqi Kurdish Oil Loading in Turkey

The fifth cargo of crude oil from Iraqi Kurdistan was being loaded at Turkey's Mediterranean port of Ceyhan on Thursday and the tanker was scheduled to depart on Friday, Turkish energy officials said.

Mergers & Acquisitions

Rio Tinto Pulls Plug on Mozambique Coal Venture

Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending

Rohr Dredge Continues European Expansion

Rohr International Dredge Holdings, Inc. announced that it acquired Eurl Rohr France, including its current backlog, inventory and all associated intellectual property (IPR), on July 23, 2014.

Total Sells ts Coal Mining Assets to Exxaro

Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affiliate in South Africa.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1323 sec (8 req/sec)