Thu 19 Jan 2012, 09:51 GMT

Baltic Oil CEO buys company shares


Chief Executive of Baltic Oil Terminals purchases ordinary shares.



Simon Escott [pictured], Chief Executive of Baltic Oil Terminals plc, has purchased 50,000 ordinary shares of 1p each in the company at 16.75p per share, according to a regulatory announcement at the London Stock Exchange.

Following this purchase, Escott has an interest in 4,766,500 shares, representing approximately 5.04 percent of the company's issued shares.

Baltic Oil Terminals plc is a UK public company listed on the AIM market in London. It operates and leases terminals and tank capacity in Kaliningrad, Rotterdam and Aabenraa. In December 2010, the company entered into an agreement for the acquisition of Petroval Bunker International B.V., a fuel oil storage and bunker supply business based in Rotterdam, from Petroval Pte. Ltd. for US$10.8 million in cash.

Petroval operates two heated fuel oil tanks with a total capacity of 120,000 cubic metres, in Europoort Rotterdam, which it leases from Vopak. The current leases expire in April 2014.

In November 2011, Baltic Oil Terminals entered into an agreement for the acquisition of Haahr Tank-Lager A/S for US$9.9 million in cash. The business, which has been re-named Dan-Balt Tank Lager A/S, operates a 160,000 cubic metres refined oils terminal at Aabenraa in Denmark.

Simon Escott - Career Summary

Escott has extensive management experience in the oil and gas and petrochemical industries. He is a qualified Petroleum and Mechanical Engineer and has worked in a senior capacity for ESSO GmbH, BP Brazil, Phillips Petroleum Incorporated, Elf Aquitaine S.A., Pennzoil/Cities Services (Brazil), Norsk Hydro A/S, Saga Petroleum A/S, Zhetybay Quest Petroleum GmbH, Reliance Industries Limited and the Mannai Corporation WLL.

He has run major construction projects for Brown & Root Incorporated in the North Sea and for ABB Lummus Crest Incorporated in India.

In 1992, Escott was a Project Director for the Russian World Bank Oil Rehabilitation Loans 1 and 2, based in Moscow and Siberia. He co-founded Baltic Oil Terminals in 2004.


Molgas Energy logo. Molgas completes acquisition of Prima LNG’s Irish business  

Molgas takes over Prima LNG’s Irish customer portfolio, including a Mondelez manufacturing site, as part of its expansion.

Levante LNG vessel. Peninsula marks three years of LNG bunkering with Levante LNG  

Bunker supplier reports zero claims and CO₂e cuts as LNG bunker vessel completes three years of operations.

Sea Leader FZCO logo. Sea Leader begins physical bunker supply operations in eastern India  

Company completes first bunker delivery after registering with India's shipping authority.

Wega and Deneb vessels render. Auramarine to supply methanol fuel systems for German hydrographic research vessels  

Finnish firm signs deal with Gondan Shipbuilders to equip two new vessels for Germany's maritime agency.

Mitsui-Everllence B&W 6S50ME engine render. Mitsui E&S secures first order for dual-fuel engines from Indian shipyard  

Six LNG-fuelled engines will power chemical tankers built by Swan Defence and Heavy Industries in Gujarat, India.

Jamaica bunkering hub study presentation. Study maps route for Jamaica to become regional hub for alternative marine fuels  

Research identifies Jamaica's location, port traffic and existing LNG infrastructure as foundations for a regional alternative marine fuels hub.

A2B Progress vessel. A2B-online orders two more methanol-fuelled vessels for shortsea network  

Dutch shortsea operator expands newbuild series to four ships, adding methanol propulsion and battery capacity for emission-free port calls.

Höegh Autoliners and BYD Energy Storage cooperation agreement signing. Höegh Autoliners signs battery deal with BYD for ammonia-ready car carrier  

Ro-ro shipper teams up with BYD Energy Storage to combine batteries, solar power and ammonia-ready propulsion on a single car carrier.

Hercules Angelica vessel. Hercules Tanker Management adds new Ultra-Spec tanker to fleet with FAME cargo run  

Hercules Angelica begins maiden voyage carrying FAME from Malaysia to the UK/ARA region.

SHI and Morimura sign MoU. Samsung Heavy Industries and Japan's Morimura to jointly develop solid oxide fuel cells for ships  

Companies target 2028 commercialisation of SOFC technology for merchant vessels and floating data centres.