iCON Infrastructure Partners II has entered into an agreement to acquire Service Terminal Rotterdam v.o.f. (STR) from LITASCO SA and its joint venture partner Burando Maritime Services.

The transaction was entered into following two months of exclusive discussions and is expected to close at the end of April 2015.

STR is a modern, purpose built bunker fuel terminal strategically located in the Port of Rotterdam, STR offers a fully utilized berth with a total quay length of over 450 meters. The main activities can be subdivided into the following core operations

• STS (Transhipment) and Lay-by services. Service Terminal Rotterdam met the increasing need for reliable and efficient port services to ship owners, charterers and port agents. Multiple jetties and its unique location in the Rotterdam-Botlek area provides the right logistic services and speeds-up your vessels port turnaround time.

• Storage of heavy fuel oil products through its joint venture with Russian oil major Lukoil. With its new built ocean jetty STR is able to receive vessels with a maximum LOA of 270 meters. Through its import, storage and export activities STR serves the Antwerp-Rotterdam-Amsterdam (ARA) bunker market. With dedicated Fuel Oil tanks STR has a total storage capacity of 235.000 m³.

The project was implemented by a joint venture (50/50) established in 2003 between LITASCO and the Dutch company Burando Maritime Services.

In line with the agreement and its development strategy, LITASCO will remain the primary user of STR under a long-term exclusive contract.