Sign up
Log in Sign up
Tue 9 Oct 2012, 14:09 GMT

Chemoil to sell Jurong Island terminal


Oiltanking enters into an agreement to acquire a 100% shareholding in Chemoil's Helios Terminal.

Oiltanking GmbH has today announced that it has entered into an agreement to acquire a 100% shareholding in Helios Terminal Corporation Pte. Ltd. and its holding company Chemoil Storage Limited, subject to regulatory approvals.

Located on Jurong Island in Singapore, the terminal has a total capacity of 503,000 cubic metres (cbm). Commissioned in 2008 it is a built-for-purpose fuel oil storage and blending facility. The terminal is equipped with a finger jetty with six berths that can handle up to two Suezmax-size vessels simultaneously.

Oiltanking is a subsidiary of Marquard & Bahls AG, Germany, a leading petroleum company, privately owned. It is the second-largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 73 terminals in 22 countries within Europe, North and South America, Middle East, India as well as Asia. It has an overall storage capacity of 19.7 million cbm.

Oiltanking already operates two terminals in Singapore with a combined storage capacity of more than 1.7 million cbm.

Commenting on the Helios Terminal agreement, Oiltanking said: "The acquisition will further strengthen Oiltanking’s market position for petroleum products in Singapore and Southeast Asia."

Monjasa Oil & Shipping Trainee (MOST) trainees. Monjasa opens applications for global trainee programme  

Marine fuel supplier seeks candidates for MOST scheme spanning offices from Singapore to New York.
Singapore's first fully electric harbour tug. Singapore's first fully electric tug completes commissioning ahead of April deployment  

PaxOcean and ABB’s 50-tonne bollard-pull vessel represents an early step in harbour craft electrification.
Fuel for thought: Hydrogen report cover. Lloyd's Register report examines hydrogen's potential and challenges for decarbonisation  

Classification society highlights fuel's promise alongside safety, infrastructure, and cost barriers limiting maritime adoption.
Bureau Veritas and Straits Bio-LNG sign MoU. BV Malaysia partners with Straits Bio-LNG on sustainable biomethane certification  

MoU aims to establish ISCC EU-certified biomethane production and liquefaction facility in strategic alliance.
Molgas Energy logo. Molgas becomes non-clearing member at European Energy Exchange  

Spanish energy company joins EEX as it expands European operations and strengthens shipper role.
Yiannis Diamandopoulos, Elinoil. Diamandopoulos appointed CEO of Elinoil as Aligizakis becomes chairman  

Greek marine lube supplier announces leadership changes following board meeting on 5 January.
Sustainable Marine Fuel Services webinar hosted by BV graphic. Bureau Veritas to host webinar on sustainable marine fuel transition challenges  

Classification society to address regulatory compliance, market trends, and investment strategies in February online event.
Inchcape Shipping Services logo. Inchcape to provide bunkering services from new Indonesian offices  

Port agency establishes presence in key bulk and tanker operation hubs handling 150 calls annually.
CPN launch of B100 marine biodiesel supply in Hong Kong graphic. Chimbusco Pan Nation launches B100 biodiesel supply in Hong Kong  

Bunker tanker Guo Si becomes Hong Kong's first Type II certified vessel for pure biodiesel operations.
Vox Apolonia vessel. Van Oord completes Dutch beach replenishment using 100% bio-LNG  

Dredger Vox Apolonia deposited 1 million cbm of sand at Noord-Beveland beach under Coastline Care programme.




 Recommended