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20 October 2019 The on-line newspaper devoted to the world of transports 18:10 GMT+2

October 9, 2012

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Oiltanking will buy Helios Terminal Corporation of Singapore

The transaction will have a value of 285 million dollars

The Oiltanking German (group Marquard & Bahls) has signed an agreement with the Chemoil Energy Ltd. (Glencore group) in order to acquire the entire capital Chemoil Storage Ltd., holding of Helios Terminal Corporation.

Helios manages a terminal for producing oil of the ability to 503.000 cubic metres on the island of Jurong, to Singapore, that it is equipped of six docks to which they can land at the same time until two ships of Suezmax type. The 121.526.000 common stocks of the Chemoil Storage, that they represent 100% of the capital of the company, will be yielded by the Chemoil Logistics, society integrally controlled from Chemoil Energy, and the transaction will have a value of 285 million dollars.

Oiltanking work already two cisternieri terminals in the port of Singapore, the Oiltanking Odfjell Singapore Terminal of the ability to 388.000 cubic metres and the Oiltanking Singapore of the ability to 1,4 million cubic metres, situated they also on the island of Jurong. The Network of the German society is constituted altogether by 73 terminals in 22 nations for a total ability to 19,7 million cubic metres.

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