Oiltanking and Stolthaven Announce Antwerp Terminal Joint Venture, Belgium
Oiltanking Stolthaven Antwerp, Belgium

March 2006

Oiltanking and Stolthaven Announce Antwerp Terminal Joint Venture, Belgium

Oiltanking acquires 50% of the shares at Oiltanking Antwerp at Stolthaven Terminals. The new joint venture company is renamed Oiltanking Stolthaven Antwerp NV and continues to pursue its strategy as an independent liquid storage provider.

Oiltanking Stolthaven Antwerp is located on the right bank of the Schelde river in the midst of the world’s second largest petrochemical complex after Houston and has a well-established dedicated infrastructure for both marine and land logistics. The terminal has a total capacity of 500,000 cbm tank storage serving the liquid chemicals, chemical gases and petroleum markets, and is connected to neighboring chemicals manufacturer via 26 pipelines.

The new company is to be further developed as the Specialty Chemical Hub in the ARA region, and will fully implement the plans, announced earlier, to expand the terminal by 50,000 cbm in the form of of 21 tanks, during the course of 2006. Beyond this, two loading racks for trucks and railcars and a new pier with four berths will be built. The new pier will add two extra berths for chemical tankers, and will be designed to accommodate parcel tankers up to 125,000 dwt.