Stolt-Neilsen acquires Marstel Terminals

Norway’s Stolt-Neilsen Ltd. has acquired Marstel Terminals, a trans-Tasman operator of bulk liquid storage and packaging, for an undisclosed amount. Marstel operates five terminals in New Zealand and four in Australia, with approximately 150,000 cubic meters of storage capacity and a throughput of about 400,000 tons a year of hazardous and non-hazardous products. These products include petrochemicals, transport fuels, biofuels, lubricants, bitumen and vegetable oils. Under the agreement, Marstel founders are to retain a 30% ownership and will continue as executive managers. Stolt-Neilsen’s Stolthaven Terminals has a network of eight bulk liquid storage facilities with a combined total storage capacity of 2.9 million cubic meters. A ninth terminal is being constructed in Singapore. (June 22,2011)