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  • oystercatcher-logo-new.png
    Oystercatcher
    Netherlands, Belgium, Malta

    Transport & logistics

    Oystercatcher

    Oystercatcher is the holding company through which the Company held 45% interests in four subsidiaries of Oiltanking, located in Belgium, Malta and the Netherlands.

    These businesses provide over three million cubic metres of oil, petroleum and other oil-related storage facilities and associated services to a broad range of clients, including private and state oil companies, refiners, petrochemical companies and traders.

    Oiltanking is one of the world’s leading independent storage partners for oils, chemicals and gases, operating 41 terminals in 18 countries with a total storage capacity of 16 million cubic metres.

    Follow-on investments

    On 2 May 2017, Oiltanking Ghent acquired 100% of Belgotank NV, a company which owns 82,000 cubic metres of tank capacity located on the Oiltanking Ghent site. These provide a mix of small tanks which are complementary to the business’s existing tank portfolio. On 25 September 2017, Oystercatcher made a follow-on equity investment of €2.4 million into Oiltanking Ghent to part fund that acquisition. 

    Developments in the year

    Oystercatcher, in line with the broader oil storage sector, has benefitted from a contango market structure for oil-derived products during the year and overall performed ahead of our expectations. Storage rates have improved and many existing customers have been keen to renew storage contracts early. At the same time, customer activity levels have reduced due to lower end-user demand, caused by the Covid-related lockdown measures around the world, and this has negatively impacted throughput and ancillary services revenues.

    Sustainability

    Oiltanking GmbH, our coshareholder and operating partner for the Oystercatcher terminals, has long placed significant focus on sustainability. As well as continuing to ensure high standards of environmental management, our businesses are increasingly looking to leverage business opportunities related to sustainability, for example by supporting customers to grow their renewable fuels businesses by adapting storage infrastructure and providing blending capabilities.

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