JERA Global Markets and The Rhenus Group Complete Sale & Purchase of Rietlanden Terminals
18 Sep 2023
Singapore/Germany, 18 September 2023 – JERA Global Markets Pte. Ltd. (“JERA Global Markets”) and the Rhenus Group (“Rhenus”) jointly announce the sale and purchase of Rietlanden Terminals B.V. (“Rietlanden”), following a competitive bidding process. The transfer of ownership from Rietlanden’s holding entity JERA Global Markets Netherlands B.V. to Rhenus’ bidding entity Rhenus Beteiligungen International GmbH will take place over two tranches across 2023 and 2027.
“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.
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 continued activity of Rietlanden in a manner that is aligned to business objectives and consistent with energy transition pathways.
Rietlanden 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.
About JERA Global Markets
JERA Global Markets (JERAGM) is a leading utility-backed seaborne energy trader. A joint venture between majority shareholder JERA Co., Inc. and EDF Trading, JERAGM’s shareholders are among the world’s major utilities. JERAGM operates one of the largest energy portfolios in the world which gives it an in-depth understanding of the way local, regional and international energy markets behave. Headquartered in Singapore, JERAGM has a global talent pool of more than 250 people across offices located in four strategic locations: Singapore, Japan (Tokyo), the UK (London) and the US (Baltimore). JERAGM is strongly capitalised with over US$500 million in paid up capital and a total equity of US$3 billion. JERAGM has retained its A+ Stable rating from R&I, attributable to a robust business model and solid financial base. For more information, visit www.jeragm.com.
The Rhenus Group is one of the leading logistics specialists with business operations around the globe and annual turnover amounting to EUR 8.6 billion. 39,000 employees work at 1,120 business sites and develop innovative solutions along the complete supply chain. Whether providing transport, warehousing, customs clearance or value-added services, the family business pools its operations in various business units where the needs of customers are the major focus at all times.