Odfjell Sells Stake in Dalian Termnial

May 11, 2020

Odfjell announced Monday that Odfjell Terminals (China) Pte. Ltd. (OTC) has today completed a sale of its 50% shareholding of Odfjell Terminals (Dalian) Co Ltd. (OTD) to VTTI Terminals I B.V., a subsidiary of VTTI group, for a total cash consideration of $59 million.

Kristian Mørch, CEO of Odfjell said, “The sale of OTD represents another step in the restructuring of our terminal portfolio and is in line with our strategy to focus on chemical terminals where we can harvest synergies with Odfjell Tankers or have another angle for further value creation by Odfjell.”

OTC is indirectly owned 51% by Odfjell and 49% by Lindsay Goldberg (LG). For Odfjell, the transaction will result in a net cash gain of $27 million and an equity gain of $13 million to be reported in the second quarter of 2020, it said.

Logistics News

Italy's New FLNG Terminal to Be Operational by March 2025

Italy's New FLNG Terminal to Be Operational by March 2025

New Cruise Terminal to Be Built in Port of Klaipėda

New Cruise Terminal to Be Built in Port of Klaipėda

Adani Aims to Complete Phase One of Long-delayed Port by Year-end

Adani Aims to Complete Phase One of Long-delayed Port by Year-end

Delft Students Cross North Sea on Self-Built Hydrogen Boat

Delft Students Cross North Sea on Self-Built Hydrogen Boat

Subscribe for Maritime Logistics Professional E‑News