ACU JUNE Final LR

LOGISTICS NEWS
ADNOC Logistics and Services to handle
Ruwais container terminal operations
VTG Q1 revenue up 5%
to EUR255.1 million
ABU DHABI: ADNOC Logistics and
Services, the shipping and services
arm of the Abu Dhabi National Oil
Company (ADNOC), has signed a
contract with Borouge, a leading
provider of value creating plastics
solutions, to handle its Ruwais
container terminal operations.
The five-year contract,
awarded through a
competitive bidding
process, is the first deal
signed between Borouge
and ADNOC Logistics and
Services as a new
integrated entity,
following the integration
of IRSHAD, ESNAAD and
ADNATCO into a single
ADNOC operating
company, the Emirates
State News Agency WAM
reported.
Under the terms of the contract,
ADNOC Logistics and Services will
carry out all handling operations of
Borouge's packed and palletised
products and bulk loaded containers.
ADNOC Logistics and Services will
handle up to 800,000 TEUs (Twentyfoot
Equivalent Units) per annum with
skilled labor and management
expertise and operational excellence
in compliance with the highest HSE
standards, especially in China and
Southeast-Asia, for high value
polymers.
“Following the unification of our
shipping and marine ser vices
operations our focus continues to be
on servicing the ADNOC business and
international clients to the highest
standard, without compromising our
HSE commitments. Looking ahead, as
part of ADNOC's 2030 strategy, we are
expanding our powerful offering to
customers outside of the ADNOC
network, first regionally and then
globally,” said Abdul Aziz Mohamed
Al Zaabi, Senior Vice President of the
Services unit, at ADNOC Logistics and
Services.
ADNOC is making significant
investments in new downstream
p ro j e c t s to g ro w i t s re fi n i n g
c a p a b i l i t i e s a n d e x p a n d i t s
petrochemical production. As a result
of the planned expansions in ADNOC
Downstream business, Ruwais will
become one of the largest integrated
r e fi n i n g a n d p e t r o c h e m i c a l
complexes in the world
HAMBURG: One of the
leading railcar leasing and rail
logistics companies in Europe,
VTG Aktiengesellschaft (WKN:
VTG999), is upbeat over the
prospects for more growth
with its first quarter revenue
in 2018 jumping by 4.6% to
EUR255.1 million.
The company said its EBITDA
jumped sharply by 16.1
percent to EUR 88.9 million
(Q1 2017: EUR 76.6 million)
with the positive growth
raising earnings per share of
shareholders in the process.
“We are very satisfied with
our results for the first
quarter of 2018. Once again,
we were able to increase our
revenue, EBITDA, Group net
profit and earnings per share,”
said Heiko Fischer, Chairman
of the Executive Board of VTG
AG.
“This marks a continuation of
the positive development we
saw in the second half of
2017. In particular, we are
benefiting from a persistently
favorable economic climate,
the associated high utilization
of our fleet capacity and
comparatively low
maintenance costs in our
Railcar Division. The Logistics
Divisions too are experiencing
further positive development
and increasing their earnings,”
he added.
VTG is in the process of
acquiring all shares at CIT Rail
Holdings (Europe) SAS, and
hence, the Nacco Group from
the American CIT Group.
Under the law, VTF must sell
about 30 percent of Nacco
shares in advance to third
parties.
Once this has been met can
VTG fully takeover Nacco
Group's remaining 10,000 or
so freight cars, the company
said, indicating that this
process is still being worked
out.