Aqua Marina, the holding company of Olerex Group, will acquire Oiltanking's Tallinn terminal in the port of Muuga, Estonia.
The terminal comprises 78,550 m3 tank capacity and provides truck and ISO tank-loading infrastructure for the local and regional distribution of motor fuels and chemicals. It offers excellent connectivity with a highly efficient railway infrastructure, and jetties with optimal deep-sea water access. It is located in the customs free zone of the port of Muuga in Tallinn.
Karl Henrik Dahl, director West of Suez, Oiltanking, says: 'Oiltanking is constantly evaluating and optimising its terminal portfolio worldwide. Product flows in the Baltic Sea area have changed considerably in recent years, meaning that the capabilities of Oiltanking Tallinn could be better utilised by a new strong import-focused owner.'
Olerex chairman Antti Moppel adds: 'Olerex distributes more than a quarter of the entire Estonian retail consumption of automotive fuels. These volumes and the Oiltanking terminal with its sea and rail access are a perfect match, helping us to further optimise the fuels handling and distributing costs. Lower fuel handling costs help to keep our prices at forecourts reasonable.'
The terminal will be renamed to Olerex Terminal and will continue to serve its existing customer base.