(EnergyAsia, October 10 2012, Wednesday) — Germany’s Oiltanking GmbH said it has agreed to fully acquire Singapore-based Helios Terminal Corporation Private Limited and its holding company Chemoil Storage Limited subject to regulatory approvals.
Commissioned in 2008, Helios’ terminal on Jurong Island has the capacity to hold 503,000 cubic metres (cbm). It is equipped with blending facilities and a finger jetty with six berths that can handle up to two Suezmax-size vessels simultaneously.
Oiltanking currently owns and operates two terminals in Singapore with a combined storage capacity of more than 1.7 million cbm. The acquisition will strengthen its position as an independent fuel storage services provider in Singapore and Southeast Asia.
Oiltanking, a subsidiary of privately owned Marquard & Bahls AG, is the world’s second-largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 73 terminals in 22 countries around the world with a total storage capacity of 19.7 million cbm.
Chemoil, a Singapore-listed world leading supplier and trader of marine fuels, also supplies aviation fuel, diesel, renewable and biofuels, base oils and lubricants.