Vopak Sells Amsterdam, Hamburg Terminals
The Netherlands-based tank storage company Royal Vopak has completed the divestment of its terminals in Amsterdam and Hamburg to First State Investments. The divestment was announced on 5 April 2019.The total agreed transaction value of the terminals in Amsterdam and Hamburg is around EUR 600 million, including a contingent consideration of EUR 15 million which is subject to certain revenue conditions.At completion, the transaction generates a cash inflow for Vopak of approximately EUR 555 million.
Canada Makes First Propane Shipment
North American energy infrastructure company energy infrastructure company AltaGas celebrated the grand opening of its Ridley Island Propane Export Terminal (RIPET), located in Prince Rupert, British Columbia – the first marine export facility for propane in Canada.The facility began introducing propane feedstock in mid-April, and the first shipment departed the terminal on May 23, 2019 bound for Asia."The completion of this game-changing project and the shipment of our first cargo are historic milestones for AltaGas…
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…
Groningen Seaports, Vopak Push Solar Power
The Dutch tank storage company Royal Vopak, Groningen Seaports and Whitehelm Capital announce their intention to jointly invest in a 27 MW solar park. The solar photovoltaic field will be one of the largest currently in the Netherlands.The new solar park will be situated on 19 ha of land adjacent to Vopak Terminal Eemshaven, land which is currently already leased by the terminal. The produced green electricity will be made available for local use in Groningen and Vopak terminals.Based on the available energy infrastructure…
Royal Vopak Rraises Stake in Pakistan LNG Terminal
Dutch petroleum storage company Royal Vopak announced that it will acquire in total 44% in Elengy Terminal Pakistan Ltd (ETPL) in separate transactions with International Finance Corporation (IFC) and Engro Corporation Ltd (Engro Corporation). This includes the acquisition of a 29% share announced in July.ETPL's wholly owned subsidiary, Engro Elengy Terminal (Pvt) Ltd (EETPL) owns an LNG facility which is located in Port Qasim in Pakistan, adjacent to the Engro Vopak chemical…
Maersk Leases Singapore Oil Storage Ahead of IMO 2020
Maersk Oil Trading has leased oil storage space in Singapore, signalling a push by one of the world's biggest ship fuel buyers into the Asian bunkering hub ahead of changes to global fuel standards from 2020, trade sources said.Maersk Oil has taken storage at the Tankstore oil terminal in Singapore, a spokesman for parent A.P. Moller-Maersk told Reuters, without giving further details.The firm has leased 120,000 cubic meters of space for fuel oil for six months, said three trade sources with direct knowledge of the matter.
Maersk to Install Scrubbers on Select Vessels Ahead of 2020
A.P. Moller-Maersk, the world's biggest container shipping group, will add devices to reduce harmful exhaust emissions to some of its ships ahead of new global fuel regulations starting in 2020.To combat air pollution, the International Maritime Organization (IMO), the United Nations' shipping agency, has set global regulations to cap the sulphur content in marine fuels, known as bunkers, at 0.5 percent down from 3.5 percent now.Shipowners could meet the new regulations by installing sulphur-stripping exhaust cleaning systems…
Maersk, Vopak to Launch 2020 Fuel Bunkering in Rotterdam
A.P. Moller - Maersk and Royal Vopak, an independent tank storage operator active in the heart of Rotterdam’s bunker environment, have agreed to this first joint initiative which will cater for circa 20% of Maersk global demand, enabling A.P. Moller - Maersk to deliver approximately 2.3mt per year.As an anchor tenant in the modified facilities this agreement will enable Maersk, as well as any other interested third parties, to supply vessels trading with and inside Europe with compliant fuel.
Vopak to Invest in Rotterdam Terminal
Vopak Rotterdam Botlek is investing in 63.000 cbm state-of-the-art stainless steel capacity (15 tanks) for the storage of Styrene and other hazardous chemicals. Styrene is a vital product used in manufacturing of a wide variety of consumer goods serving markets such as packaging, construction (for example isolation) and automotive. The new infrastructure will be fully insulated to allow for product temperature control and is designed to prevent any emissions to the environment.
Vopak Expands Pengerang Terminal
Royal Vopak and its joint venture partners intend to expand their independent storage terminal, Pengerang Independent Terminals Sdn Bhd (PITSB) in Pengerang, Johor in southern Malaysia. PITSB will be expanded with 430,000 cbm to a total capacity of 1.7 million cubic meters.The expansion which is subject to final formalities, is expected to be commissioned progressively from Q1 2019. PITSB provides storage, blending and distribution services for crude oil and clean petroleum products. The expansion relates to the storage of clean petroleum products.
Canada to Roll Out First Propane Export Terminal
Royal Vopak and AltaGas have entered into a joint venture and will invest together in the development of the Ridley Island Propane Export Terminal (RIPET). RIPET is expected to be the first propane export facility off the west coast of Canada. The project is to be designed to ship 1.2 million tonnes of propane per annum, with approximately 96,000 cubic meters of storage capacity. The facility is expected to be commissioned in Q1 2019. Vopak will take a 30 percent interest in RIPET.
Royal Vopak to Acquire EXMAR's FRSU Share
EXMAR and Vopak announce that discussions are currently taking place to explore the possibility of an acquisition of EXMAR’s share in its floating LNG storage and regasification business (FRSU’s) by Vopak. As the outcome of these discussions between EXMAR and Vopak is currently unknown, no further details are disclosed. Material updates will be communicated via press releases. Vopak has earmarked storage and handling of LNG/gas as one of its strategic focus areas. Therefore Vopak…
Banking on US Shale Gas Boom, Asia Petrochemical Firms Switch to LPG
Asia petrochemicals firms are building tanks and retooling plants to store and process liquefied petroleum gas imported from the United States, counting on a flood of supply from the shale boom to replace costlier naphtha as a raw material. Samsung Total Petrochemical, LG Chem and Royal Vopak are among a number of companies in Asia expanding import terminals or retrofitting plants over the next one to two years as they buy more LPG. The gas is used by petrochemicals firms to make a broad range of consumer and industrial plastics. Asian petrochemicals firms have traditionally used naphtha as a raw material. They are now switching to LPG because rising U.S. supplies have pushed prices below those of both naphtha and LPG from their main supplier, the Middle East.
POLB Gives New Oil Terminal a Green Light
The Long Beach Board of Harbor Commissioners inks Letter of Intent to study development of a a 28-acre site on Pier T. The project is to construct a deep-water terminal for crude oil and petroleum products including gasoline, and the port has chosen Vopak Terminals North America Inc. to study the development. The preliminary agreement between the Port and Vopak sets basic deal terms and green-lights an environmental impact study of a “liquid bulk” terminal for petroleum tanker ships.
Rhine Shipping Goes Online
Dutch oil, chemicals and storage group Petroplus is one of the partners to launch an Internet-based portal and online exchange to transform the traditional Rhine-based shipping sector. Shippers, integrated barge owner companies, independent barge brokers and individual barge owners will have the opportunity to conduct business online through this portal, Petroplus said in a statement. The other founding shareholders of the project are BP Amoco, shipping and tank storage firm Royal Vopak and Germany's Marquard & Bahls AG which trades under the brand names Mabanaft and Oiltanking. The project is supported by the Rhine Barge Owners Association, Petroplus added. Management and technology consultancy Booz Allen & Hamilton will provide strategy and e-technology services to the venture.