Odfjell SE Seals Singapore Tank Terminal Sale

Odfjell Terminals B.V. has closed the sale of its 50 percent ownership in Oiltanking Odfjell Terminal Singapore Pte for around USD 300 million after debt.

The sale was announced in October and was agreed with a fund managed by Macquarie Infrastructure and Real Assets (MIRA).

The closure of the transaction was subject to regulatory approval, which has now been obtained.

Odfjell SE’s share of the sale is around USD 150 million, resulting in a USD 135 million book value gain for the company.

The divestment is in line with Odfjell’s strategy to focus on the terminals where the company has managerial control and to further invest in growth opportunities in its core markets, such as Houston and Rotterdam.

Odfjell’s tank terminal division consists of ten tank terminals and is part of a network of another 14 tank terminals partly owned by related parties.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2018 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

GREENTECH IN SHIPPING GLOBAL FORUM

The mindset of sustainability and efficiency is the key to unlocking successful business…

read more >

Maritime Information Warfare

SMi are thrilled to announce the return of Maritime Information Warfare conference, now in its second year…

read more >

Offshore Wind Europe 2018

The Offshore Wind Europe speaker line-up is supported by executives who are leading the charge…

read more >

The Nineteenth CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening is recognised as the premier end of year gathering for the global LNG industry…

read more >