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Vopak

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Vopak

Koninklijke Vopak N.V.
Naamloze vennootschap
Traded as Euronext: VPK
Industry Marine transportation
Founded 1999
Headquarters Rotterdam, Netherlands
Key people
Eelco Hoekstra (CEO), Anton van Rossum (Chairman of the supervisory board)
Products Tank terminals for petrochemicals and fuels, LNG regasification terminals
Revenue €1.295 billion (2013)[1]
€442.0 million (2010)[1]
Profit €311.9 million (2013)[1]
Total assets €3.831 billion (end 2010)[1]
Total equity €1.550 billion (end 2010)[1]
Number of employees
6,174 (end 2013)
Website www.vopak.com

Royal Vopak N.V. (}

}}: Koninklijke Vopak) is a Dutch company that stores and handles various oil and natural gas-related products. The company was created by the merger of Van Ommeren and Pakhoed in 1999. In 2002, the distribution of oil and natural gas related products was split off; a new company Univar was created for that purpose. The head office is located in Rotterdam.

Vopak is listed on the AMX index of Euronext Amsterdam.

Contents

  • Merger 1
  • Activities 2
    • Key indicators 2.1
    • Lng-terminals 2.2
  • Vopak in China 3
  • References 4
  • External links 5

Merger

In 1998 the companies Royal Pakhoed nv and Royal van Ommeren nv decided to merge. Both companies were offering storage services for oil-, (petro)chemical products, vegetable oils etc. Both companies were also active on the market of shipping (tankers) and other logistical services.

Besides their overlapping activities Van Ommeren offered heavy-goods transport via Dockwise and Pakhoed offered distribution services for chemical products via the company Univar.

The European Commission ruled that the merger would give the combined company too much market power in storage services in the Antwerp-Rotterdam-Amsterdam (ARA)-area, on which made the offer to sell parts of their storage-tank capacity. The EC ruled this as insufficient and the merger was canceled.[2]

Renewed negotiations resulted in the combination selling the Pakhoed terminals in Pernis and Botlek as well as van Ommeren selling their stake in Gamatext in the Port of Antwerp. This new offer convinced the EC to approve the merger and in 1999 it was publically announced[2]

On 15 April 2000 Vopak announced that they sold their 1,5 million m³ Botlek terminal to Norwegian competitor Odfjell.[3] Odfjell had already terminals in Houston, China and South-America. The entire workforce of 260 people also moved to Odfjell.[3] Eerder dat jaar deed Vopak al zijn belang in de Antwerpse terminal Gamatex over aan de Amerikaanse partner GATX.[3]

Early in 2002 the CEO Ton Spoor left with immediate effect, officially because of 'personal reasons', but it was rumoured that the break of trust between him and the company was caused by the €150 million write-off in 2001 caused by a failed attempt to introduce a pan-European IT system.[4] Spoor was succeeded by Gary Pruitt.

The new combined company Vopak has a difficult start: there is only very limited synergy to be found in the storage services and the chemical distribution services and the company lacks the funds to realize her growth strategy. Because of that Vopak decides to split off and then sell the distribution services as Univar. This results in Vopak losing approx. 80% of her turnover. CEO Pruitt also moves to Univar and former van Ommeren CEO Carel van der Driest returns, now as CEO of Vopak.

Activities

Vopak has 84 terminals with a combined capacity of 30 million m³ in 31 countries. The terminal services Vopak offers can be grouped in 3 markets:

1)Import / export / distribution terminals (67)
2)Hub-terminals at airports (14) and
3)Industrial terminals (17)

Depending on the industry, Vopak is active in Europe, Middle-East, Africa (oil and chemical products) and Asia, North-America, South-America (chemical products only).

Key indicators

Below an overview of the key financial figures over 2005-2012. The numbers include income from joint-ventures[5]
Description 2005 2006 2007 2008 2009 2010 2011 2012
Turnover (in € million) 684 778 853 924 1.001 1.106 1.172 1.314
Net profit (in € million) 93 132 183 213 251 270 401 392
Storage capacity (in million m³) 20,4 21,2 21,8 27,1 28,3 28,8 27,8 29,9
Vopak’s market share (world-wide) 13,0% 12,0% 11,6% 11,1% 10,6% 10,2%
# employees (x1) 4.607 4.643 4.669 5.243 5.341 5.756 5.901 6.100

Lng-terminals

De Vopak Terminal Eemshaven (plans canceled in 2012)

Together with Dutch company N.V. Nederlandse Gasunie Vopak is building the first LNG terminal in Rotterdam. Building commenced in 2008 and on 23 September 2011 the terminal was opened by the Queen and since then it is in full production. The LNG terminal consists of 3 tanks with a combined storage capacity of 540.000 m³ liquefied gas, equivalent to a throughput of 12 billion m³ gas per year. The total investment was approx. 800 million Euro. The joint-venture has several multi-year contracts with energy producers like E.ON and Essent, since 2009 owned by German RWE. Gasunie and Vopak own 80% of the terminal and both customers each 5%.

There were also plans to develop a LNG terminal in the Eemshaven in the North of the country. Vopak and Gasunie would own each 25% and Essent 50%, but in 2012 it became clear that the project was not viable and the plans were scrapped.[6]

Vopak in China

Since May 2011 Vopak and the Chinese State Development & Investment Company (SDIC) have decided to build an oil-terminal in Yangpu for both crude oil as well as oil products. The terminal will have a storage capacity of 1,35 million m³. Vopak is already active on the Chinese market and -before this new project- had a storage capacity of 1,2 million m³ - the majority for chemical products. When all expansion plans will be realized the total storage capacity in China where Vopak has some share in will be 5,2 million m³[7]

References


-- Module:Hatnote -- -- -- -- This module produces hatnote links and links to related articles. It -- -- implements the and meta-templates and includes -- -- helper functions for other Lua hatnote modules. --


local libraryUtil = require('libraryUtil') local checkType = libraryUtil.checkType local mArguments -- lazily initialise Module:Arguments local yesno -- lazily initialise Module:Yesno

local p = {}


-- Helper functions


local function getArgs(frame) -- Fetches the arguments from the parent frame. Whitespace is trimmed and -- blanks are removed. mArguments = require('Module:Arguments') return mArguments.getArgs(frame, {parentOnly = true}) end

local function removeInitialColon(s) -- Removes the initial colon from a string, if present. return s:match('^:?(.*)') end

function p.findNamespaceId(link, removeColon) -- Finds the namespace id (namespace number) of a link or a pagename. This -- function will not work if the link is enclosed in double brackets. Colons -- are trimmed from the start of the link by default. To skip colon -- trimming, set the removeColon parameter to true. checkType('findNamespaceId', 1, link, 'string') checkType('findNamespaceId', 2, removeColon, 'boolean', true) if removeColon ~= false then link = removeInitialColon(link) end local namespace = link:match('^(.-):') if namespace then local nsTable = mw.site.namespaces[namespace] if nsTable then return nsTable.id end end return 0 end

function p.formatPages(...) -- Formats a list of pages using formatLink and returns it as an array. Nil -- values are not allowed. local pages = {...} local ret = {} for i, page in ipairs(pages) do ret[i] = p._formatLink(page) end return ret end

function p.formatPageTables(...) -- Takes a list of page/display tables and returns it as a list of -- formatted links. Nil values are not allowed. local pages = {...} local links = {} for i, t in ipairs(pages) do checkType('formatPageTables', i, t, 'table') local link = t[1] local display = t[2] links[i] = p._formatLink(link, display) end return links end

function p.makeWikitextError(msg, helpLink, addTrackingCategory) -- Formats an error message to be returned to wikitext. If -- addTrackingCategory is not false after being returned from -- Module:Yesno, and if we are not on a talk page, a tracking category -- is added. checkType('makeWikitextError', 1, msg, 'string') checkType('makeWikitextError', 2, helpLink, 'string', true) yesno = require('Module:Yesno') local title = mw.title.getCurrentTitle() -- Make the help link text. local helpText if helpLink then helpText = ' (help)' else helpText = end -- Make the category text. local category if not title.isTalkPage and yesno(addTrackingCategory) ~= false then category = 'Hatnote templates with errors' category = string.format( '%s:%s', mw.site.namespaces[14].name, category ) else category = end return string.format( '%s', msg, helpText, category ) end


-- Format link -- -- Makes a wikilink from the given link and display values. Links are escaped -- with colons if necessary, and links to sections are detected and displayed -- with " § " as a separator rather than the standard MediaWiki "#". Used in -- the template.


function p.formatLink(frame) local args = getArgs(frame) local link = args[1] local display = args[2] if not link then return p.makeWikitextError( 'no link specified', 'Template:Format hatnote link#Errors', args.category ) end return p._formatLink(link, display) end

function p._formatLink(link, display) -- Find whether we need to use the colon trick or not. We need to use the -- colon trick for categories and files, as otherwise category links -- categorise the page and file links display the file. checkType('_formatLink', 1, link, 'string') checkType('_formatLink', 2, display, 'string', true) link = removeInitialColon(link) local namespace = p.findNamespaceId(link, false) local colon if namespace == 6 or namespace == 14 then colon = ':' else colon = end -- Find whether a faux display value has been added with the | magic -- word. if not display then local prePipe, postPipe = link:match('^(.-)|(.*)$') link = prePipe or link display = postPipe end -- Find the display value. if not display then local page, section = link:match('^(.-)#(.*)$') if page then display = page .. ' § ' .. section end end -- Assemble the link. if display then return string.format('%s', colon, link, display) else return string.format('%s%s', colon, link) end end


-- Hatnote -- -- Produces standard hatnote text. Implements the template.


function p.hatnote(frame) local args = getArgs(frame) local s = args[1] local options = {} if not s then return p.makeWikitextError( 'no text specified', 'Template:Hatnote#Errors', args.category ) end options.extraclasses = args.extraclasses options.selfref = args.selfref return p._hatnote(s, options) end

function p._hatnote(s, options) checkType('_hatnote', 1, s, 'string') checkType('_hatnote', 2, options, 'table', true) local classes = {'hatnote'} local extraclasses = options.extraclasses local selfref = options.selfref if type(extraclasses) == 'string' then classes[#classes + 1] = extraclasses end if selfref then classes[#classes + 1] = 'selfref' end return string.format( '
%s
', table.concat(classes, ' '), s )

end

return p-------------------------------------------------------------------------------- -- Module:Hatnote -- -- -- -- This module produces hatnote links and links to related articles. It -- -- implements the and meta-templates and includes -- -- helper functions for other Lua hatnote modules. --


local libraryUtil = require('libraryUtil') local checkType = libraryUtil.checkType local mArguments -- lazily initialise Module:Arguments local yesno -- lazily initialise Module:Yesno

local p = {}


-- Helper functions


local function getArgs(frame) -- Fetches the arguments from the parent frame. Whitespace is trimmed and -- blanks are removed. mArguments = require('Module:Arguments') return mArguments.getArgs(frame, {parentOnly = true}) end

local function removeInitialColon(s) -- Removes the initial colon from a string, if present. return s:match('^:?(.*)') end

function p.findNamespaceId(link, removeColon) -- Finds the namespace id (namespace number) of a link or a pagename. This -- function will not work if the link is enclosed in double brackets. Colons -- are trimmed from the start of the link by default. To skip colon -- trimming, set the removeColon parameter to true. checkType('findNamespaceId', 1, link, 'string') checkType('findNamespaceId', 2, removeColon, 'boolean', true) if removeColon ~= false then link = removeInitialColon(link) end local namespace = link:match('^(.-):') if namespace then local nsTable = mw.site.namespaces[namespace] if nsTable then return nsTable.id end end return 0 end

function p.formatPages(...) -- Formats a list of pages using formatLink and returns it as an array. Nil -- values are not allowed. local pages = {...} local ret = {} for i, page in ipairs(pages) do ret[i] = p._formatLink(page) end return ret end

function p.formatPageTables(...) -- Takes a list of page/display tables and returns it as a list of -- formatted links. Nil values are not allowed. local pages = {...} local links = {} for i, t in ipairs(pages) do checkType('formatPageTables', i, t, 'table') local link = t[1] local display = t[2] links[i] = p._formatLink(link, display) end return links end

function p.makeWikitextError(msg, helpLink, addTrackingCategory) -- Formats an error message to be returned to wikitext. If -- addTrackingCategory is not false after being returned from -- Module:Yesno, and if we are not on a talk page, a tracking category -- is added. checkType('makeWikitextError', 1, msg, 'string') checkType('makeWikitextError', 2, helpLink, 'string', true) yesno = require('Module:Yesno') local title = mw.title.getCurrentTitle() -- Make the help link text. local helpText if helpLink then helpText = ' (help)' else helpText = end -- Make the category text. local category if not title.isTalkPage and yesno(addTrackingCategory) ~= false then category = 'Hatnote templates with errors' category = string.format( '%s:%s', mw.site.namespaces[14].name, category ) else category = end return string.format( '%s', msg, helpText, category ) end


-- Format link -- -- Makes a wikilink from the given link and display values. Links are escaped -- with colons if necessary, and links to sections are detected and displayed -- with " § " as a separator rather than the standard MediaWiki "#". Used in -- the template.


function p.formatLink(frame) local args = getArgs(frame) local link = args[1] local display = args[2] if not link then return p.makeWikitextError( 'no link specified', 'Template:Format hatnote link#Errors', args.category ) end return p._formatLink(link, display) end

function p._formatLink(link, display) -- Find whether we need to use the colon trick or not. We need to use the -- colon trick for categories and files, as otherwise category links -- categorise the page and file links display the file. checkType('_formatLink', 1, link, 'string') checkType('_formatLink', 2, display, 'string', true) link = removeInitialColon(link) local namespace = p.findNamespaceId(link, false) local colon if namespace == 6 or namespace == 14 then colon = ':' else colon = end -- Find whether a faux display value has been added with the | magic -- word. if not display then local prePipe, postPipe = link:match('^(.-)|(.*)$') link = prePipe or link display = postPipe end -- Find the display value. if not display then local page, section = link:match('^(.-)#(.*)$') if page then display = page .. ' § ' .. section end end -- Assemble the link. if display then return string.format('%s', colon, link, display) else return string.format('%s%s', colon, link) end end


-- Hatnote -- -- Produces standard hatnote text. Implements the template.


function p.hatnote(frame) local args = getArgs(frame) local s = args[1] local options = {} if not s then return p.makeWikitextError( 'no text specified', 'Template:Hatnote#Errors', args.category ) end options.extraclasses = args.extraclasses options.selfref = args.selfref return p._hatnote(s, options) end

function p._hatnote(s, options) checkType('_hatnote', 1, s, 'string') checkType('_hatnote', 2, options, 'table', true) local classes = {'hatnote'} local extraclasses = options.extraclasses local selfref = options.selfref if type(extraclasses) == 'string' then classes[#classes + 1] = extraclasses end if selfref then classes[#classes + 1] = 'selfref' end return string.format( '
%s
', table.concat(classes, ' '), s )

end

return p
  1. ^ a b c d e
  2. ^ a b EC gives green light for merger after selling part of the storage services, 10 September 1999 link to press-release, Visited 2 September, 2013
  3. ^ a b c , Botlek-terminal Vopak sold to Odfjell, 15 April, 2000Nieuwsblad Transport (Dutch), visited: 2 September 2013
  4. ^ Nieuwsblad Transport:Bestuurvoorzitter Ton Spoor weg bij Vopak, 29 January 2002. visited 2 September 2013
  5. ^ Vopak website: Key financial figures and annual reports, visited: 1 September 2013
  6. ^
  7. ^ Vopak Press-releases Vopak-persbericht, Expension in China, 25 May 2011, accessdate=2 September 2013

External links

  • Official website
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