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International Internet Magazine. Baltic States news & analytics Monday, 25.05.2020, 17:24

Estonia: Parent of Olerex buys Oiltanking Tallinn terminal in Muuga Harbor

BC, Tallinn, 10.07.2019.Print version
Aqua Marina, the parent of Estonian fuel seller AS Olerex, and Oiltanking GmbH, a German operator of tank terminals for oils, chemicals and gases have entered into an agreement for the acquisition of the Oiltanking Tallinn terminal in the port of Muuga, Estonia, informed LETA/BNS.

The terminal will be renamed Olerex Terminal and it will continue servicing existing clients.

AS Aqua Marina and Oiltanking GmbH signed a contract of purchase and sale in Hamburg on July 5 with which Aqua Marina is to acquire 100% of shares in Oiltanking Tallinn, it appears from the notice of concentration submitted to the Estonian Competition Authority.

The transaction stems from Aqua Marina's interest in entering the sector of liquid fuel storage and a strategic decision by Oiltanking GmbH to optimize its operation in the Baltic Sea. A permission from the Estonian Competition Authority is required for the transaction to take effect. 

"Oiltanking is constantly evaluating and optimizing its terminal portfolio worldwide. Product flows in the Baltic Sea area have changed considerably in the recent years, meaning that the capabilities of Oiltanking Tallinn could be better utilized by a new strong import-focused owner," Karl Henrik Dahl, director of  Oiltanking, said after signing. "We are satisfied to hand over the terminal to the local retail market leader."

"Olerex distributes more than a quarter of the entire Estonian retail consumption of automotive fuels," Antti Moppel, chairman of Olerex' supervisory board, said. "These volumes and the Oiltanking terminal with its sea and rail access are a perfect match, helping us to further optimize the fuels handling and distributing costs. Lower fuel handling costs help to keep our prices at forecourts reasonable."

The Oiltanking Tallinn terminal with its 78,550 cubic meter tank capacity is one of the most versatile and technically advanced terminals in the region, providing truck and ISO tank-loading infrastructure for the local and regional distribution of motor fuels and chemicals. For transit customers it offers excellent connectivity with a highly efficient railway infrastructure, and jetties with optimal deep sea water access. The terminal is located in the customs free zone of the port of Muuga in Tallinn.

Oiltanking is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of supply, trading and logistics of energy and chemicals. The company owns and operates 73 terminals within Europe, North America, Latin America, the Middle East, Africa, India, and the Asia-Pacific region. Oiltanking has an overall storage capacity of 20 mln cubic meters.

Aqua Marina is a holding company, the main field of activity of which is managing its security and real estate investments. Aqua Marina has a 50% holding in Olerex.

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