EMEA News
Odfjell Takes Step Toward Le Havre Oil Terminal
Odfjell Terminals Europe says it has signed a deal with Grand Port Maritime du Havre (GPMH) in France that will allow it to build an oil terminal at the port.
The two parties signed a Site Reservation Protocol for a 31.5 hectare plot inside the Port of Le Havre along the Grand Canal Maritime.
Hervé Martel, chairman of GPMH's management board, said the terminal helps the port in its efforts to increase bulk liquid storage activity.
"The interest of this major player in bulk liquid transport and storage meets that of the GPMH, of the industries of the river Seine artery and beyond; it will thus contribute to strengthen their attractiveness and competitiveness," he said.
Construction of the first phase, which will provide at least 150,000 cubic meters for the storage of petrochemical and petroleum-related products, is expected to start in 2015 and cost €150 to €200 million ($196 to $261 million).
The terminal is expected to open in 2017.
The port bills itself as the second-biggest in Europe for industrial setting-up in chemistry and petro-chemistry.
"This site reservation is another important step for expanding and growing our terminal business in Europe," said Jan A. Hammer, president and CEO of Odfjell SE.
"When the terminal is built, we can offer our customers storage capacities in the most important shipping hubs for petrochemicals and other speciality bulk liquids in Europe with presence in Rotterdam, Antwerp and Le Havre.
Hammer said the company will study customer requirements and begin basic engineering work in the coming months before making permit applications and making a final decision to proceed.
Odfjell Terminals Europe B.V. is a subsidiary of Odfjell Terminals AS, which is a joint venture company between Odfjell SE and Lindsay Goldberg LLC.
Odfjell SE said earlier this year that expanding the work of the joint venture, including through a Le Havre terminal, is part of its strategy to recover from a loss-making year in 2012.
