March 18 2019

Vitol to integrate asphalt trading business

Vitol today announced it has agreed to acquire a further 50% of VALT, the bitumen joint-venture it established with Sargeant Marine in 2016.  On completion, VALT will be 100% owned by Vitol and will be integrated into Vitol’s core trading business.

The acquisition will make Vitol a leader in the trading, storage and marine transportation of asphalt products around the world, with a dedicated fleet of eleven specialised vessels.  Volumes are circa 1.4 million metric tons of asphalt per annum, managed from hubs in Asia, Europe and the US.

The transaction is subject to conditions precedent and is expected to close in Q2 2019.

 

About Vitol
Vitol is an energy and commodities company; its primary business is the trading and distribution of energy products globally – it trades over seven million barrels per day of crude oil and products and, at any time, has 250 ships transporting its cargoes.

Vitol’s clients include national oil companies, multinationals, leading industrial and chemical companies and the world’s largest airlines. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally including: circa 18mm3 of storage across seven continents, 480kbpd of refining capacity and 5,000 service stations across Africa, Australia, Eurasia and in Northwest Europe.

January 11 2018

VALT TAKES DELIVERY OF ITS SECOND WORLD’S LARGEST SPECIALTY BUILT ASPHALT TANKER

LONDON – (January 10, 2018) – Valt has announced that it has taken delivery of its second new state-of-the-art 37,000 ton vessel, Asphalt Synergy. The vessel’s arrival reconfirms the commitment of Valt, a leader in the global trading, storage and marine transportation of asphalt products, to remain at the forefront of both shipping and technology.

Asphalt Synergy was built by Valt in partnership with AVIC Dingheng Shipbuilding Co., Ltd. China. The vessel features an array of advanced, economical and eco-friendly features, which make the vessel the second of a new generation of specialty built tankers and is a sister vessel to VALT’s Asphalt Splendor delivered in December 2015.

Asphalt Synergy is the 11th operating vessel in Valt’s current international fleet.

For more information, please see www.valtasphalt.com