Varo Energy Sells Coastal Storage Facility to Graue

by Ship & Bunker News Team
Thursday February 19, 2015

Dutch joint venture Varo Energy in January sold its only coastal storage facility to Graue Entsorgungs-und Bunkergesellschaft (Graue) for an undisclosed sum, a tank terminal industry news source reports.

The 21-unit tank farm at Nordenham-Blexen, Germany has 87,000 cubic metres (cbm) of storage capacity and handles a variety of liquids.

According to Graue the facility is being used for the transhipment of bitumen, heavy fuel oil, gasoil, recycling products and other liquid transhipment goods via tank trucks, ocean-going vessels and barges.

The existing transhipment business "will continue and is set to expand in the long term," said Graue of its intentions for the site, which will be operated by subsidiary Unabhaengige Tanklagergesellschaft.

The deal puts Graue in possession of the tank farm business property and technical facilities, as well as storage, transhipment and other contracts.

It is understood Graue has also taken on the present personnel.

The Vitol-Carlyle joint venture is understood not to have commented on its reasons for the sale.

UK bunker supplier Geos Group recently said tanks at its new Port of Blyth, UK, storage facility has been hydro tested in preparation for coming on line.

Ship & Bunker News Team
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