Nippon Vopak acquires 2 Japan tank terminals

01 August 2008 10:13  [Source: ICIS news]

MUMBAI (ICIS news)--Nippon Vopak has agreed with Mitsui to acquire 100% of the assets in the Nagoya and Moji tank terminals in Japan to strengthen its position as a provider of independent bulk liquid storage in the country, it said on Friday.

Both terminals are currently fully utilised by a number of Japanese oil and chemical companies, it added without disclosing any financial details.

"Both terminals operate as distribution terminals, handling the import of chemical and oil products via incoming vessels and providing the required storage and loading of outgoing vessels, tank trucks or drums," the firm added.

The facilities will become part of Nippon Vopak’s Japanese terminal network, which consists of three terminals in Kawasaki, Kobe, and Yokohama and would increase its total storage capacity to 220,500 cubic meters, it said.

Nippon Vopak is a joint venture between Nippon Express and Netherland's Vopak. 

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By: Aaron Rodrigues
+65 6780 4359

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