Oiltanking acquires Vopak terminals in Finland for chemicals, oil products

Oiltanking has acquired 100% of the shares of Vopak Chemicals Logistics Finland, consisting of two terminals for the storage and handling of bulk chemicals and petroleum products, officials announced on Wednesday. 

This transaction will more than triple Oiltanking’s capacity in Finland. Investment terms were not disclosed.

The two terminals with a combined capacity of 175,400 cbm are located in Kotka and Hamina, at the Southeast coast of Finland at the Baltic Sea. Oiltanking already owns and operates a terminal in this area under the name Oiltanking Sonmarin Oy, with a total storage capacity of 81,700 cbm.

After the acquisition, the terminals of both companies will be consolidated into one company under the name of Oiltanking Finland Oy.

Finland is one of the main transit hubs for the export and import of chemical and petroleum products in relation to Russia and the other FSU countries. This transaction will further strengthen the ability of Oiltanking to serve this market segment by combining the existing well equipped storage capacities with the newly acquired tank terminals, according to company officials.

Following this acquisition, the total storage capacity of Oiltanking's Finland terminals increases to 257,100 cbm, with 75 tanks in various sizes from 500 to 10,000 cbm. 

The terminals in Kotka are connected to two jetties (10.0 and 13.5 m draft) in Kotka and two others (9.0 and 10.0 m draft) in Hamina. All products can be received and loaded out by sea, tank containers, railtank cars and trucks.