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Oct 16, 2012 11:01 AM

Oiltanking GmbH announced it had entered into an agreement to acquire a 100% shareholding in Helios Terminal Corporation Pte Ltd and its holding company Chemoil Storage Limited subject to regulatory approvals.

Located on Jurong Island in Singapore the terminal of Helios has a total capacity of 503,000 cubic meters (132.8 million gallons). Commissioned in 2008 it is a built-for-purpose fuel oil storage and blending facility. The terminal is equipped with a finger jetty with six berths that can handle up to two Suezmax-size vessels simultaneously.

Oiltanking already operates two terminals in Singapore with a combined storage capacity of more than 1.7 million cubic meters (449.09 million gallons). The acquisition will further strengthen Oiltanking’s market position for petroleum products in Singapore and Southeast Asia.

Oiltanking is a subsidiary of Marquard & Bahls AG, Germany, a leading petroleum company, privately owned. Oiltanking is the second-largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 73 terminals in 22 countries within Europe, North and South America, Middle East, India as well as Asia. Oiltanking has an overall storage capacity of 19.7 million cubic meters (5.2 billion gallons).