Marquard & Bahls Group boosts stake in Oman terminal

Oct. 19, 2016
Marquard & Bahls Group expands its investment in Oman by acquiring 21.99% of the indirect ownership in Oiltanking Odfjell Terminals & Co LLC (OOT). Through this transaction Marquard & Bahls as a group will become the indirect majority shareholder of the terminal.

Marquard & Bahls Group expands its investment in Oman Tank Terminal by acquiring 21.99% of the indirect ownership in Oiltanking Odfjell Terminals & Co LLC (OOT). Through this transaction Marquard & Bahls as a group will become the indirect majority shareholder of the terminal.

OOT, operational since late 2008, is situated in the petrochemical hub of Sohar Industrial Port, strategically located at the entrance to the Middle East Gulf. The terminal is the only liquid storage provider in Sohar Port and Free Zone, offering a diverse and flexible terminal facility for storage and handling of chemicals, LPG and petroleum products.

OOT has a capacity of almost 1.4 million cbm and operates six deep water berths. The company is specialized in providing tailor-made services to captive and non-captive customers.

OOT is a joint venture of Oiltanking Odfjell Terminals Oman BV (70%), OmanOil Company (25%) and a private investment company (5%). Oiltanking GmbH already has an indirect ownership of 29.75% in the terminal and the acquisition will therefore increase Marquard & Bahls’ total indirect holding in OOT to 51.74%.

Julio Tellechea, chief operating officer of Marquard & Bahls, said: “We are convinced that this acquisition will strengthen our group’s leading position in providing exceptional storage services in a strategic location. We look forward to further developing the terminal together with our joint venture partners.”

Oiltanking GmbH is a subsidiary of Marquard & Bahls, a Hamburg-based family-owned company that operates in the fields of energy supply, trading and logistics. Oiltanking is the second largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 81 terminals in 23 countries within Europe, North and South America, Middle East, Africa, India as well as in Asia. Oiltanking has an overall storage capacity of 21 million cbm.