Odfjell spends USD 200 million on US expansion

Odfjell Holding (US) Inc reports that ithas secured a USD 200 million 5-year secured credit facility for further expansions from a group of five US banks.

Odfjell Holding (US) Inc is the owner of Odfjell Terminals (Houston) Inc and the brownfield project Odfjell Terminals (Charleston) LLC.

The funds are available through a five-year reducing revolving credit facility and the proceeds are to be used to finance the expansion projects for the Houston and Charleston terminals, general corporate purposes in the respective companies, and to refinance an existing USD 54 million indebtedness at Odfjell Terminals (Houston) Inc.

 

In a press release, the company says the construction at the Charleston terminal has now started and the project is on track to deliver 80,000 CBM of new tank capacity in 2013. Odfjell Holdings (US) Inc is exploring new expansion opportunities throughout North America driven by the latest chemical expansions.

 

The Odfjell Group is one of the leading players in the global market for seaborne transportation and storage of chemicals and other speciality bulk liquids. The Odfjell fleet comprises of approximately 100 ships, which trade both globally and regionally. The tank terminal division consists of ten partially owned tank terminals and is part of a network of 12 tank terminals partly owned by related parties. The tank terminals are strategically located within important shipping hubs around the world. The Odfjell Group’s headquarters are in Bergen, Norway, and the Group has more than 20 offices internationally. Odfjell employs around 3, 800 staff.

Associated companies:


Related news

Latest news

USCG confirms OPtimarin in Line for Ballast Water Approval

The United States Coast Guard (USCG) has confirmed that Norwegian ballast water treatment specialist Optimarin has become the first supplier to submit an application for type approval.

New order for Servogear

Servogear announces that they have received a new order from Brødrene Aa. 

Norwater AS reports boost in sales

The Norwater team reports of great interest and busy days in 2016. In a press release, they state that as of the first 8 months of the year, 2016 sales are already beyond target for the year as a whole.

Gaia-facts reaching ground control

The European Space Agency (ESA) has released the first data from the Gaia mission, which has the tremendous task of building the most precise 3D map of the Milky Way.

Polish delegation for Norwegian circular waste management

Against the background of the EU's ambitious waste management targets, Norwegian and Polish stakeholders met on Wednesday 14 September in Drammen.

Milestone at Mongstad Water Treatment Plant

SAR AS reports that an extensive upgrade to the water treatment plant at Mongstad reached a new milestone July. 

Servogear signs new contract with Özata Shipyard

Servogear has announced the signing of a new contract with Özata Shipyard in Turkey. The contract includes the delivery of Servogear Ecoflow PropulsorTMfor two 39 meter passenger catamarans (YN 41 & YN 42).

Statoil and Petrobras strengthen strategic partnership

Statoil reports that they have strengthened their cooperation in Brazil by signing a Memorandum of Understanding (MoU) with Petrobras.

TechInvent and Island Offshore/Centrica announced winners of ONS Innovation Award

TechInvent and Island Offshore/Centrica were announced winners of the ONS 2016 Innovation Awards, at the Innovation Awards Ceremony Tuesday 30 August.