Stolt reorganises

Stolt-Nielsen Ltd (SNL) has reached a provisional agreement to acquire Den Hartogh Logistics’ bulk liquid storage terminal in the Port of Moerdijk in the Netherlands. Subject to agreement on final contract, the transaction is expected to close on December 31, 2011.

Signs of the first step on the road to recovery for tank container operators – increasing volumes – are appearing. However, the path back to better days will be long and arduous.

Stolt-Nielsen SA has signed an agreement to acquire the tank container operations of the Taby Group. The transaction is expected to close in the fourth quarter of this year, subject to the approval of German regulatory authorities. Terms of the deal were not disclosed.

Stolt-Nielsen is to split its main chemical transport and logistics division into separate chemical tanker and tank container units in a bid to achieve greater operating efficiencies. Stolt-Nielsen Transportation Group (SNTG) is being divided into Stolt Tankers & Terminals (ST&T) and Stolt Tank Containers (STC).

In what was a tumultuous year for the Stolt-Nielsen Group as a whole, the company’s tank container fleet expanded by around 8 per cent in 2004, driven primarily by increased levels of activity in the chemical and foodgrade businesses.

Stolt-Nielsen SA (SNSA) is reported to be close to selling its tank container business. The sale, possibly to an institutional investor, could be worth in the range of US$180-250 mill.