Logistics major buys Rietlanden Terminals in Amsterdam
Rietlanden coal terminal in the Port of Amsterdam will have a new future as the logistics major Rhenus group has agreed to take it off the hands of JERA Global Markets. It is in line with the aim of Port of Amsterdam to stop the handling of coal at its terminals from 2030 onwards.
In 2017, the Port of Amsterdam announced a sustainability strategy that disallows the handling of coal from 2030. JERA Global Markets and Rietlanden worked together to evaluate strategic options to secure the long-term future of Rietlanden, with the priority of ensuring the continued activity of Rietlanden in a manner that is aligned to business objectives and consistent with energy transition pathways.
Rietlanden Terminals is a major player in the transhipment of coal, on behalf of power plants in Germany, and other dry bulk cargo, as well as logistics services. With a combined storage capacity of around 2.6 million tonnes, Rietlanden operates across Afrikahaven and Amerikahaven in Amsterdam.
Transfer of ownership in two tranches
According to a joint statement by JERA Global Markets, a joint venture between Japan’s JERA and EDF Trading, and Rhenus, the agreement was concluded following a bidding process, with the transfer of ownership to take place over two tranches across 2023 and 2027.
Rhenus said it will initially acquire a 49.99 per cent shareholding from the current owner JERA Global Markets, followed by the purchase of the remaining 50.01 per cent in 2027. The Rhenus Group is strengthening its European network of ports through this participation and will re-develop the terminals to cope with a future without coal. The acquisition is subject to customary approvals and the first closing is expected in 2023. Port of Amsterdam noted in its statement that the terminal’s future transformation will be discussed with Rhenus.
“We are confident that the Rhenus Group is well-placed to maximise the value of Rietlanden Terminals, particularly from 2030 and beyond, when coal handling will be disallowed in the Port of Amsterdam,” said Justin Rowland, Chief Executive Officer of JERA Global Markets, “JERA Global Markets remains committed to our contracts with our customers in the ARA region and are focused on continuing to deliver strong value in our business partnership.”
“We are delighted to welcome Rietlanden Terminals to our already extensive terminal network in Europe. Joining forces with JERA Global Markets is a natural fit, as we clearly share the same values,” said Michael Appelhans, Managing Director of Rhenus Ports.