Royal Vopak Sells Terminals in US, Australia
Jul 17, 2001 12:00 PM, Modern Bulk Transporter staffKoninklijke Vopak NV (Royal Vopak) has completed the sale of two of its group companies. In the United States, Vopak sold its four dry cargo terminals to Kinder Morgan Energy Partners LP, based in Houston TX. Located along the East coast in Florida and Virginia, these terminals handle largo parcels of dry bulk materials, such as fertilizers and salt, as well as containers. With the sale an amount of about US $44 million (Euro 51 million) in cash has been received.
In Australia, Vopak Terminals Australia sold its petroleum terminal in Hastings (Melbourne) to Trafigura Fuels Australia Pty Ltd, a wholly owned subsidiary of Trafigura Beheer BV of the Netherlands. The liquid bulk tank storage facility in Hastings, with a total storage capacity of 77,000 cbm, focuses primarily on the handling of clean petroleum products to the local transport industry and hypermarkets.
Both sales are in line with Royal Vopak’s strategy to reduce those interests no longer considered essential for the development of its core activities. With these transactions Vopak realizes a net book profit of about Euro 5 million, which will be recognized as extraordinary income in 2001.