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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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Sales revenue up 63% for terminal operator

Downstream specialist announces positive results following recent terminal acquisitions and bunker storage deal.



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Updated on 15 May 2012 10:02 GMT

French terminal operator Rubis has announced that sales revenue during the first quarter of 2012 rose by 63 percent to €694 million.

Overall activity during the period was up 4 percent despite unfavourable weather conditions in Europe and major increases in supply costs.

Since the beginning of the business year the group has expanded via the following acquisitions:

In Turkey, with an investment in Delta Petrol, the largest petroleum storage facility in the eastern Mediterranean,

In the Bahamas, Cayman Islands and Turks and Caicos with the purchase from Chevron of its petroleum product distribution network, making Rubis a market leader in the region.

In Botswana, the acquisition of Puma Energy’s LPG distribution business, strengthening an existing position.

Rubis Terminal

Rubis Terminal continued to grow with a 14 percent increase to €31.3 million in storage revenue, of which 7 percent was on a like-for-like basis, i.e. not including Delta Petrol in Turkey.

In the ARA region (Antwerp – Rotterdam - Amsterdam), revenue was up 21 percent to €5.1 million with the commercial introduction of 10,000 cubic metres of new capacity at the two facilities in Antwerp and Rotterdam.

In Rotterdam, a major new contract for storing bunker fuel was signed with leading marine fuel supplier and trader OW Bunker, bringing all available capacity into play.

In France, the start of the year has been positive in all sectors, with 4 percent growth. Heating oil was down due to a relatively warm winter, but diesel and petrol activity continued to increase alongside growth in imported products linked to restructuring in the refining industry.

Rubis Energie

Rubis Energie recorded an overall growth of 40 percent with 1 percent on a like-for-like basis, i.e. not including acquisitions in the Caribbean.

"Rubis Energie is successfully maintaining both its volumes and margins, once again demonstrating the resilience of its model," the company said.






Related Links:

French firm invests in fuel oil storage
Rubis to expand Rotterdam storage capacity
OW Bunker announces ARA terminal agreements
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