12.06.2020 • NewsElaine BurridgeOilTanking

Oiltanking Sells US terminal to Omega Partners

Oiltanking Sells US terminal to Omega Partners (c) Oiltanking
Oiltanking Sells US terminal to Omega Partners (c) Oiltanking

Oiltanking North America has agreed to sell its Joliet terminal in Channahon, Illinois, USA, to Omega Partners Illinois, a subsidiary of terminal operator Omega Partners III.

Financial terms of the deal, which is scheduled to complete in the third quarter of 2020, subject to the usual conditions, were not disclosed.

Located some 80 kilometers southwest of Chicago, the Joliet terminal has a capacity of about 44,600m3 and is primarily dedicated to the storage of specialty chemicals. The facility has connections for rail, tank truck and barge transport.

“We are pleased to hand over the terminal to a strong US player with proven experience in terminal operations and who recognizes the capabilities and potential of this facility,” said Jerry Hardman, Oiltanking’s vice president, business development Americas.

Oiltanking bought the terminal in 2009 and decided to sell it because of its location and scale in the context of the group’s overall network. The company added that it is continuously evaluating and optimizing its global terminal portfolio as part of its Strategy 2025, announced in September 2019 in response to changing market conditions in energy markets. The strategy consists of three directives: maximizing the value of current assets, achieving profitable growth and providing the necessary enablers.

Headquartered in St. Louis, Missouri, Omega Partners III owns and operates bulk liquid petroleum terminals in the states of Illinois, Florida, Georgia, South Carolina, Nevada and Kentucky, serving customers in the oil, distribution, trading, chemical and agriculture industries.

Last month, Oiltanking announced it had joined the “Power to Methanol” project, which aims to produce methanol from captured CO2. The storage company joins Inovyn, Indaver, Engie, Fluxys, the Flemish Environmental Holding Company (Vlaamse Milieu Holding) and Port of Antwerp.

The consortium aims to build an 8,000 t/y demonstration plant at Inovyn’s site in Lillo, Belgium. Construction is scheduled to start by 2022

CHEManager Spotlight

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics
Creating Interfaces

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics

CHEManager Spotlight is an exclusive event tailored for practitioners and decision-makers in the chemical industry. This part of our event series delves into the latest trends and innovations in logistics to streamline your operations and drive efficiency.

Whitepaper

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)
Setting the Standard

Excellence in Pharmaceutical Distribution and The Critical Role of Good Distribution Practice (GDP)

Are you ready to elevate your pharmaceutical operations? Download our exclusive whitepaper and discover how compliance with Good Distribution Practice (GDP) is essential for the safety and integrity of pharmaceuticals.