22nd May 2014 – Trafigura Beheer BV, a leading international commodities trading and logistics company, has announced that it has joined forces with the global bulk-liquid transportation, storage and distribution services firm, Stolt-Nielsen Limited, to develop a new bitumen distribution centre at Stolthaven Terminals’ Dagenham site, east of London.
Trafigura is expecting to invest a minimum of GBP 15 million over ten years in this significant long-term bitumen storage arrangement. The project will see the development of a new storage area at the terminal, which was acquired by Stolt-Nielsen in late 2012 and is operated by the company’s Stolthaven Terminals division. The terminal’s new bitumen storage capacity is expected to be brought online in mid-2015 and will store up to 20,000mt of the road-building commodity.
Bitumen, which is better known as asphalt, is a key component in both road-building and maintenance, as well as being used as a waterproofing product in roofing felt. The move is a strong indication of the two firms’ long-term strategic plan to facilitate the importation of bitumen into the UK, with demand for the product expected to increase with the UK Government’s future road building and maintenance programme announced in June 2013 as part of the National Infrastructure Plan.
"Bitumen is an increasingly global product with long range arbitrage becoming ever more common. This terminal will allow us to widen the UK’s supply options," said John Bell, Trafigura’s UK and Ireland Commercial Manager.
"We are delighted to welcome Trafigura as a customer to Stolthaven Dagenham," said Walter E. Wattenbergh, President of Stolthaven Terminals B.V. "This long-term bitumen agreement is a good example of the kind of customer-specific storage and handling solution that we can provide at the Dagenham terminal, as we continue to enhance and expand this facility."
Global midstream and downstream energy company, Puma Energy, in which Trafigura is a key shareholder, plans to supply high quality bitumen products to UK customers. Puma Energy currently operates a bitumen distribution network as well as terminals across Africa, Asia Pacific and Central America.
For further information please contact:
Stolt-Nielsen Limited – Jens F.Gruner-Hegge, VP Corporate Finance, Tel+44 (0) 20 7611 8985 or email@example.com
Trafigura’s Global Press Office - Tel+41 22 592 4528 or firstname.lastname@example.org
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas, through its investment in Avance Gas Holding Ltd., transports liquefied petroleum gas (LPG) with a fleet of very large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock Exchange. www.stolt-nielsen.com
Founded in 1993, the Trafigura Group has become one of the world’s leading independent commodity traders, specialising in the oil, minerals and metals markets. Primary trading activities are the supply and transport of oil and petroleum products and non-ferrous and bulk commodities. The trading business is supported by industrial and financial assets including global oil products distribution company Puma Energy; joint venture company DT Group; global terminals operator Impala; Trafigura’s Mining Group and Galena Asset Management.
The Trafigura Group is owned by over 700 of its almost 9,000 employees who work in 58 countries. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. www.trafigura.com