EMEA News
Rotterdam Bunker Storage Terminal Changes Hands
A two-tank Service Terminal Rotterdam (STR) bunker storage facility is set to change hands in April, TankTerminals.com reports.
The STR facility is understood to be currently owned under a joint venture between Lukoil's international trading division Litasco and Dutch firm Burando Maritime Services.
A deal to pass ownership to UK investment firm iCON Infrastructure Partners is said to be due to be executed by the end of this month.
The STR facility offers 242,000 cubic metres (cbm) of storage capacity for heavy fuel oil (HFO) with an attached 450 metres of quayside.
According to Litasco's website, the facility underwent a significant expansion ending in March 2012.
The facility has a draft of 14.5 metres and caters for six Litasco time chartered barges of between 1,700 tonne and 6,300 tonne-capacity.
Litasco added that it had seen its market share of bunkering in the Amsterdam-Rotterdam-Antwerp market increase to more than 10 percent in recent years, handling around 5 million tonnes of fuel oil per year.
It is understood that Litasco will remain the primary user of the facility, located in Rotterdam's Botlek area.
Towards the end of last year, Lukoil said it would offer 500,000 tonnes of 0.10 percent sulfur bunkers to the market in 2015, with production potentially hitting 1 million tonnes in 2015 and 2 million tonnes the following year.
