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Vopak to acquire Exmar FSRU business

Vopak has signed an agreement with Exmar for the acquisition of the Antwerp-based company’s FSRU business.

Exmar currently owns and operates ten FSRUs, as well as its fleet of LNG and LPG carriers, and has been in the business for over 35 years. Vopak says the agreement will see the transfer in stages of Exmar’s participation in FSRU assets, FSRU projects under development and a corresponding part of the Exmar organisation.

No further details of the deal were provided, with finalisation subject to the consent of multiple stakeholders, including partners in the FSRU, and approval from authorities.

Vopak has been targeting the storage and handling of LNG as one of its strategic focus areas and has been looking for opportunities to grow within the LNG infrastructure market. It currently jointly owns and operates two land-based storage and regasification terminals: the GATE terminal in the Port of Rotterdam, and the TLA terminal in Altamira, Mexico.

The two companies also agreed to possible cooperation in future projects.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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