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>

<< May 2019 >>
MTWTFSS
29 30 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 31 1 2

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >