The Botlek Tank Terminal (BTT) is the largest tank terminal in the Antwerp-Rotterdam-Amsterdam (ARA) area and probably the single largest terminal in Europe. Rotterdam is the main transition and gateway port for the European petrochemical industry to the world markets and a main port for Odfjell. BTT was originally set up in 1957 and compromises about 300 storage tanks with 1.533.000 cbm. capacity. Of the total capacity 510.000 cbm. is storage tanks for chemicals and 1.023.000 cbm. is tanks for storage of mineral products. In addition, the facility include a distillation plant as well as a water purification plant.
The acquisition of Botlek Tank Terminal further emphasises Odfjell’s increased focus on integrated transport solutions. It is also a part of Odfjell’s strategy to invest in tank terminals in important regions for chemical distribution, where synergies can be achieved with Odfjell’s other business activities, chemical tankers both in global and regional trade-lanes as well as tank containers. Odfjell has direct investments in a wholly owned tank terminal in Houston, USA as well as partially owned terminals in China, and also works closely with six terminals in South America owned by associated companies.
Until the transaction is consummated, which is anticipated to take place before the third quarter 2000, the parties have agreed to keep the main terms of the transaction private and confidential. The turnover of the Odfjell Group is expected to increase by close to USD 50 million on an annual basis. Based upon the last three years performance of the terminal, the investment initially is expected to yield a return on equity of about 10% p.a.
Odfjell is a leading player in the global market of transporting chemicals and related logistical services. After the proposed merger with Seachem the fleet aggregates 90 vessels, trading both globally and regionally, whereof 49 ships will be wholly or partly owned. Odfjell additionally owns and operates tank terminals and tank containers. Priority has been given to further developing the company's integrated logistical services, both globally and regionally.