Vopak has said it is considering the sale of four petroleum terminals, each located in Algeciras, Amsterdam, Hamburg and Tallinn.

The Dutch oil and chemical storage company said it should become clear within the next 6-12 months whether attractive enough offers are worked out for its terminals.

“We feel this is a good moment for this strategic review,” Vopak CFO Gerard Paulides said in an interview with CNBC. “The expansion plans and cost cutting program give us confidence that we can achieve a significant EBITDA improvement next year.”

Vopak’s EBITDA dropped 5% in the April-June period to €180.7m ($205.6m), as the occupancy rate of its terminals declined to 85% from 90% a year earlier.

For more information, visit: www.vopak.com

29th August 2018

29th August 2018