The deal, which Pan European Terminals signed on behalf of its wholly owned subsidiary Dan Balt Tank Lager A/S of Aabenraa, Denmark, covers the handling of fuel oils and marine gas oil.

According to the statement, the agreement begins immediately with both loading and discharging of multiple products.

Pan European Terminals, which provides transhipment and storage facilities into Europe and Russia, did not reveal any further details on the nature of the agreement.