Possible Sale of Scandinavian Terminals by Vopak
10.29.2014 - NEWS

October 29, 2014 [De Financiele Telegraaf/TankTerminals.com] - Vopak would be considering the disposal of some smaller terminals in Sweden and Finland. This was reported yesterday by the Dutch daily newspaper De Financiele Telegraaf, quoting market sources it stated.


The news comes a week after Vopak had announced to lay off 200 of the in total 1,000 jobs in the Netherlands. Vopak was not prepared to comment to a possible sale of its terminals in Scandinavia.

Vopak announced in July this year to consider selling its interests in 15 terminals. These terminals would account for 4% of the total EBITDA. Terminals that no longer add value to the company are to be sold. According to De Financiele Telegraaf, quoting people who are familiar with the sector, is most of this capacity located in Europe, where the oil storage market is more suppressed than in Asia which is still a growth-market. None of the fifteen terminal has actually been sold yet. It is however not to be excluded that also Vopak terminals in Rotterdam might be sold.

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