Royal Vopak (Vopak), partner in the Estonian joint venture Vopak E.O.S., announces that it has increased its shareholding from 35% to 50%. Vopak exercised the call option granted to it following the establishment of the joint venture on April 23, 2008. This call option would expire on August 31, 2008, but has now been utilized. With this change of shareholding N-Trans - a leading private operator in the transportation services market in Russia, the FSU and the Baltic - and Vopak have become equal shareholders in Vopak E.O.S.
N-Trans and Vopak established the joint venture Vopak E.O.S. to make more efficient use of the combined available terminal assets in the region. The port of Tallinn is a strategic location for the global export of oil products from Russia, Belarus and Kazakhstan to the rest of the world.
The facilities of the terminals in Tallinn consist of 73 tanks with a total storage capacity of 740,000 cubic meters for both light and heavy oil products combined with excellent rail connections and deep water berths facilitating all vessel sizes. The independent storage company is very well positioned and takes advantage of the strategic location of this ice-free, deep water port in the Baltic area and its increasing importance in the global oil transit market. Vopak E.O.S. expects to transship over 15 million tonnes of light and heavy oil products in 2008, making it the largest terminal facility for oil products in the Baltics. Vopak E.O.S. is expanding its capacity with an additional 200,000 cubic meters of storage capacity, which will become operational towards the end of 2008.
Profile Vopak
Royal Vopak (Vopak) is the world’s largest independent tank terminal operator specializing in the storage and handling of liquid and gaseous chemical and oil products. On request, Vopak can provide complementary logistic services for customers at its terminals. Vopak operates 76 terminals with a storage capacity of more than 26 million cubic meters in 31 countries. The terminals are strategically located for users and the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.
Profile Vopak E.O.S.
Vopak E.O.S. is the largest independent tank terminal operator in the Baltic region. It provides an unmatched scale of both railway unloading capacity and railway logistics services in combination with one of the largest available storage facilities for both light (180,000 cbm) and heavy oil products (560,000 cbm) connected to the deepest berths available in the region.