For US regulatory reasons, US Residents are not to enter this site, without the express permission of 3i Infrastructure plc, and 3i Infrastructure plc is not offering any securities or services in the United States or to US Residents through this site. (The term "US Residents" is defined in the detailed terms and conditions set out in the right hand side column).
I am not a US resident (or I am, but I have 3i Infrastructure plc's express permission to use this site) and I accept the terms and conditions.
The terms and conditions set out below apply to your use of 3i Infrastructure plc's website. Please read them.
"3i Infrastructure plc" means 3i Infrastructure plc and any of its subsidiaries and related companies and references to the "3i Infrastructure plc website" are to any pages on 3i Infrastructure plc's website and also include, but are not limited to, the text, images, links, sounds, graphics and video sequences displayed in such website (the "Materials").
By clicking and entering www.3i-infrastructure.com you agree that you have read and accept these terms and conditions. If you do not agree, do not use www.3i-infrastructure.com. The information in the 3i Infrastructure plc website is only for the attention of the residents of jurisdictions where it can be lawfully disseminated. It is your responsibility to be aware of and to observe all applicable laws and regulations for your country of residence.
No information contained in these pages should be taken as a recommendation to buy, sell or hold the shares of 3i Infrastructure plc. Nothing on the 3i Infrastructure plc website or in the Materials constitutes or is intended to constitute financial or other advice and you should not act upon any information contained on the 3i Infrastructure plc website or in the Materials without first consulting a financial or other professional adviser.
Nothing in these terms and conditions shall be taken to limit or exclude any liability which may not otherwise be limited or excluded under applicable law. Use of the 3i Infrastructure plc website and the Materials are at your sole risk. 3i Infrastructure plc will not be liable to any person for any direct, indirect, special or consequential, losses, damages or awards of any kind, howsoever caused, as a result of the use of or inability to use, or reliance on, the 3i Infrastructure plc website or any of the Materials. 3i Infrastructure plc excludes all warranties, conditions, terms, undertakings and representations (excepting fraudulent misrepresentation) of any kind, express or implied, statutory or otherwise in connection with the 3i Infrastructure plc website and the Materials to the fullest extent permitted by law.
The Materials and the 3i Infrastructure plc website are provided on an "as is" and "as available" basis. 3i Infrastructure plc gives no warranties (express, implied or statutory) as to satisfactory quality or fitness for purpose of the Materials or that any of the Materials or the 3i Infrastructure plc website will be provided uninterrupted or free from errors or that any identified defect will be corrected. 3i Infrastructure plc has the right to suspend or withdraw the provision of all or any of the 3i Infrastructure plc website or the Material without prior notice at any time. Further, no warranty of any kind is given that the 3i Infrastructure plc website and the Materials are free from any virus or other malicious, destructive or corrupting code, program or macro. 3i Infrastructure plc does not warrant that the 3i Infrastructure plc website or the server(s) that make(s) them available are free of any virus or other harmful elements.
Reference in the 3i Infrastructure plc website and/or the Materials to any hypertext link, product, process or service does not imply 3i Infrastructure plc's support for, nor endorsement or recommendation of, the provider thereof or the product, process or service to which reference is made. The 3i Infrastructure plc website may contain hypertext links to other websites, resources or other third parties. 3i Infrastructure plc is not responsible for the availability of, and accepts no liability in relation to, these external websites or their contents. 3i Infrastructure plc is not a sponsor, partner, promoter or publisher of any of such websites.
The Materials are the copyright of 3i Infrastructure plc and its third party licensors and may not be copied, distributed, uploaded, posted, republished, decompiled, disassembled, reverse-engineered or transmitted in any way without the prior, written consent of 3i Infrastructure plc. You may, however, download one copy of the Materials for your personal non-commercial use or non-commercial use within the organisation in which you work on condition that you do not delete or change any copyright, trade mark or other proprietary notice contained in the Materials nor alter the way in which they are presented. Modification or use other than as permitted above violates 3i Infrastructure plc's intellectual property rights in the Materials.
The trade marks, service marks and logo (the "Trade Marks") used and displayed on the 3i Infrastructure plc website are registered and unregistered Trade Marks of 3i Infrastructure plc and others. Nothing in these terms and conditions or on the 3i Infrastructure plc website should be construed as granting any licence or right to use any Trade Mark displayed on the 3i Infrastructure plc website. 3i Infrastructure plc enforces infringements of its intellectual property rights to the fullest extent permitted by the law.
The agreement between 3i Infrastructure plc and you relating to your use and browsing of the 3i Infrastructure plc website is governed by and shall be construed in accordance with English law and you agree that the Courts of England shall have exclusive jurisdiction over any disputes arising in relation to such use and browsing. These terms and conditions may not be modified unless 3i Infrastructure plc agrees in writing.
Special rules are applicable when US Residents and other US Persons access the 3i Infrastructure plc website. For US regulatory reasons, US Residents are not permitted to access the 3i Infrastructure plc website (www.3i-infrastructure.com), unless they have express permission from 3i Infrastructure plc to do so (which may be granted by 3i Infrastructure plc in circumstances where such US Resident has given 3i Infrastructure plc certain undertakings). 3i Infrastructure plc is not offering any securities or services in the United States or to US residents through the 3i Infrastructure plc website. A "US Resident" includes any US Person, as well as (i) any natural person who is only temporarily residing outside the United States, (ii) any account of a US Person over which a non-US fiduciary has investment discretion or any entity, which, in either case, is being used to circumvent the registration requirements of the US Investment Company Act of 1940, and (iii) any employee benefit or pension plan that does not have as its participants or beneficiaries persons substantially all of whom are not US Persons. In addition, for these purposes, if an entity either has been formed or is operated for the purpose of investing in a particular security or obtaining a particular service, or facilitates individual investment decisions, none of the beneficiaries or other interest holders of such entity may be US Residents. The term "US Resident" also includes (i) persons acting for the account or benefit of a US Resident or (ii) persons in the United States when they are seeking to enter the website. Terms used in this paragraph (including the term "US Person") have the meanings given to them in Regulation S under the US Securities Act of 1933.
Transport & logistics
Oystercatcher is the holding company through which the Company holds 45% interests in five subsidiaries of Oiltanking, located in Belgium, Malta, the Netherlands and Singapore.
These businesses provide over five 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 73 terminals in 22 countries with a total storage capacity of 19 million cubic metres.
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.
In Singapore, our terminal continued to perform well as one of the leading gasoline blending terminals in Singapore and the wider region. The outlook for oil demand in the Asia Pacific region remains more positive than Europe’s, particularly driven by rising car ownership in Asia.
The investment in the Amsterdam, Malta and Singapore terminals was completed in August 2007, while the investment in the Ghent (Belgium) and Terneuzen (Netherlands) terminals was completed in June 2015.
The key elements of the investment case for the terminals are:
The transactions allowed 3i Infrastructure to partner with a leading player in the oil storage market, with a strong operational reputation.
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.