Specialist international infrastructure investment company, Amber Infrastructure Group, in mid-October announced funds under its management have signed an agreement to acquire a majority stake in Service Terminal Rotterdam (STR), a fully-contracted 242,000 m3 bunker fuel blending and storage terminal in Rotterdam.
Investing alongside funds managed by Amber is Access Capital Partners (Access); Amber and Access have together acquired all of the issued share capital of STR, it said.
Rotterdam, the busiest port in Europe, offers proximity to end customers as well as connectivity to the wider Amsterdam-Rotterdam-Antwerp (ARA) region, a concentration of refining, trading and industrial capacity, and the location for the calculation of key petrochemical benchmark prices, noted the company.
As a modern terminal designed for blending fuels, STR is particularly well-equipped to react to changing regulation, such as the recent International Maritime Organisation-mandated reductions to the amount of sulphur that is allowed in marine fuels that took effect in January 2020, it added.
Marine fuels remain critical to global maritime traffic, with no near-term technological alternatives to their use.
“We are delighted to announce the acquisition of STR. As a modern and flexible terminal in the centre of the Port of Rotterdam, the busiest port in Europe, STR is specialised in the blending and storage of low and ultra-low sulphur marine fuels on behalf of its customers,” said Amanda Woods, Chief Investment Officer of Amber.
“We look forward to working with STR’s management and our partner, Access, to help drive the adoption of these lower-emission fuels.”
“Contracted midstream energy infrastructure investments such as STR continue to offer investors exposure to attractive risk adjusted returns and annual cash yield. We are pleased to have partnered with Amber on this investment in the heart of the ARA trading hub,” added Manish Pandey, Co-head of Infrastructure at Access.
Photo credit: Amber Infrastructure Group
Published: 3 November, 2020
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