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Oiltanking acquires Helios Terminal in Singapore

Independent tank storage provider Oiltanking will acquire the 503,000 cubic meter Helios Terminal and its holding company Chemoil Storage, after entering into an agreement for a 100% shareholding.
Helios’ facility on Jurong Island will bring the number of Oiltanking’s storage terminal in Singapore to three. Its existing terminals have a combined storage capacity of more than 1.7 million cubic meters.
The Helios terminal was commissioned in 2008 for the storage of fuel oil. It features a finger jetty with six berths that can handle up to two Suezmax-size vessels at once.
The transaction is subject to regulatory approvals.