Vopak Sells 3 Terminals First State Investments
Dutch oil and chemicals storage company Royal Vopak has agreed to sell three terminals - Algeciras, Amsterdam and Hamburg - to First State Investments for 723 million euros ($812 million)."This divestment follows the strategic review of these terminals as announced on 17 August 2018. The transaction is subject to certain customary closing conditions and is expected to complete in the second half year of 2019. The combined operational capacity of the three terminals is 2,288,000 cbm," said a press release from the company.The total agreed transaction value of EUR 723 million includes a contingent consideration of EUR 15 million, which is subject to certain revenue conditions.
Vopak Launches Concurrent Bunkering Services in Singapore
Vopak, the world's largest independent storage tank operator, has launched a new service that allows tankers docking at its Singapore Sebarok oil terminal to refuel while simultaneously loading or discharging cargoes. "The new concurrent bunkering service is in line with Maritime and Port Authority of Singapore's directive to improve port efficiency," Vopak said in a statement on Tuesday. The service eliminates the time needed to move tankers calling at the Sebarok terminal to designated anchorages in Singapore's congested waters for refuelling, also known as bunkering. Prior to this, tanker vessels were required to sail to the anchorage to receive their bunkers, the Dutch oil and chemicals storage company said.
Vopak to Divest from 15 Terminals
Dutch oil and chemicals storage company Vopak said on Wednesday it would divest from 15 primarily smaller terminals and planned to cut capital expenditure by about $136 million (100 million euros). The world's largest independent storage tank operator has suffered from the harsh business climate in Europe, where high crude prices and sinking diesel profits have prompted refiners to cut operating rates by nearly a quarter this summer. "Since 2013, the tank storage market has been…
Vopak To Sell Tankers
Dutch chemicals storage and shipping company Koninklijke Vopak reported a five percent rise in 2000 net profit, driven by its North American distribution business, and forecast a sharper rise in the current year. Vopak, the world leader in tank storage, said net profits after payouts of preferential share dividends rose to 160.1 million euros ($148.9 million) in 2000 from 152.2 million euros in the previous year. Vopak said profits after goodwill write-offs were likely to rise by eight to 10 percent in 2001, and also forecast a rise in net profit before goodwill and one-time charges of 19-21 percent in the current year. Company watchers said although the 2000 figures came as no surprise, the outlook for 2001 was slightly disappointing.
