Asia/Pacific News
Jurong Port Takes Over Hin Leong Stake in Singapore's Universal Terminal
Wednesday February 10, 2021
Port operator Jurong Port has agreed to take over Hin Leong Trading's stake in Singapore's Universal Terminal, according to news agency Reuters.
On Wednesday the news agency cited three unnamed sources as saying Jurong Port will take over the stake, one of Hin Leong's key assets. Hin Leong owned 41% of the terminal, with the rest held by PetroChina and Australian investment bank Macquarie.
The terminal, located on Jurong Island, has 2.33 million m3 of storage and 15 jetties, including two for VLCCs, as well as nine bunker barge berths.
Last year it was reported that Chinese state energy company Sinopec had showed interest in buying the stake.
