Aqua Marina AS, the holding company of Olerex Group, and Oiltanking GmbH, one of the world’s largest independent operators of tank terminals for petroleum products, chemicals and gases worldwide, have entered into an agreement for the acquisition of the Oiltanking Tallinn terminal in the port of Muuga, Estonia.

The agreement was signed on Friday, July 5, 2019, at the Oiltanking GmbH head office in Hamburg.

“Oiltanking is constantly evaluating and optimizing its terminal portfolio worldwide. Product flows in the Baltic Sea area have changed considerably in the recent years, meaning that the capabilities of Oiltanking Tallinn could be better utilized by a new strong import-focused owner,” Karl Henrik Dahl, Director West of Suez, Oiltanking, commented after signing. “We are satisfied to hand over the terminal to the local retail market leader.”

“Olerex distributes more than a quarter of the entire Estonian retail consumption of automotive fuels,” Antti Moppel, Olerex Chairman, said. “These volumes and the Oiltanking terminal with its sea and rail access are a perfect match, helping us to further optimize the fuels handling and distributing costs. Lower fuel handling costs help to keep our prices at forecourts reasonable.”

The Oiltanking Tallinn terminal with its 78,550 cbm tank capacity is one of the most versatile and technically advanced terminals in the region, providing truck and ISO tank-loading infrastructure for the local and regional distribution of motor fuels and chemicals. For transit customers it offers excellent connectivity with a highly efficient railway infrastructure, and jetties with optimal deep sea water access. The terminal is located in the customs free zone of the port of Muuga in Tallinn.

The terminal will be renamed to Olerex Terminal and will continue to serve its existing customer base. Completion of the acquisition is subject to obtaining approval from the Estonian Competition Board.

About Oiltanking

Oiltanking is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of supply, trading and logistics of energy & chemicals. Oiltanking is one of the largest independent tank storage providers for petroleum products, chemicals and gases worldwide. The company owns and operates 73 terminals within Europe, North America, Latin America, the Middle East, Africa, India, and the Asia-Pacific region. Oiltanking has an overall storage capacity of 20 million cbm.

About Olerex

Olerex is the Estonian fuel retail market leader, fully based on the domestic capital, with nearly 100 stations in their network and strong retail presence all over the Baltics.