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>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 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 3 4 5

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >