Latest news with #Vopak
Business Recorder
3 days ago
- Business
- Business Recorder
Indian benchmarks end lower as IT, metals outweigh growth boost
India's equity benchmarks ended marginally lower on Monday, led by IT and metals stocks, as global trade concerns outweighed optimism from stronger-than-expected domestic growth data. The Nifty 50 dipped 0.14% to 24,716.6, while the BSE Sensex fell 0.09% to 81,373.75. On Friday, U.S. President Donald Trump threatened to double tariffs on imported steel and aluminium to 50% from June 4, reigniting global trade concerns. Metals and IT companies ended 0.7% lower and were the top sectoral losers by percentage. Rising trade tensions could weigh on the U.S. economy and tech spending and delay rate cuts by the Federal Reserve amid worries of tariff-driven inflation. Metal stocks dropped as much as 1.3% during the session but pared losses after India's steel minister estimated only a minor impact from Trump's tariff announcement on steel. Vopak's Indian JV starts trading on Mumbai stock exchanges The losses in both sectors outweighed gains fuelled by India's economy surging 7.4% in January to March, above a Reuters forecast of growth of 6.7%. Despite upbeat economic growth, global trade turbulence has weighed on market sentiment, limiting any scope for a meaningful upside, said Ajit Mishra, senior vice president of research at Religare Broking. Investors await the Reserve bank of India's policy decision on June 6, where the central bank is expected to cut interest rates by 25 basis points. Rate-sensitive sectors gained on the day, with realty and state-owned lenders rising about 2.3% and 2.2%, respectively, and consumer stocks advancing 0.8%. Among individual stocks, Mphasis fell 2.7% after a report of losing long-time client FedEx to Accenture. While the blue-chips fell on Monday, the broader, more domestically focussed small-caps and mid-caps gained 1.2% and 0.6%. They have gained 23.1% and 20.6% since the start of March, outperforming the Nifty 50's 11.7% rise, with Motilal Oswal analysts attributing the outperformance to unexpected earnings resilience in broader markets.
Business Recorder
3 days ago
- Business
- Business Recorder
Vopak's Indian JV starts trading on Mumbai stock exchanges
Dutch tank storage group Vopak said on Monday its Indian joint venture, Aegis Vopak Terminals, started trading after completing its initial public offering. The issue price for the IPO was 235 rupees ($2.75) per share, at the top end of the previously announced price range, the group said. The shares were trading at 238.89 rupees around 0539 GMT. The offering 'strongly supports Vopak's strategy of expanding our portfolio of gas and industrial terminals,' group CEO Dick Richelle said. The transaction will result in an exceptional dilution gain of around 110 million euros ($125.09 million) to be recorded by Vopak in the second quarter, the company said. Vopak has terminals in seven Indian ports and expects to benefit from the dynamic growth of the country's economy, with many more investment opportunities, notably in the liquefied petroleum gas (LPG) market.
Reuters
3 days ago
- Business
- Reuters
Vopak and Aegis' joint venture starts trading on Indian stock exchanges
June 2 (Reuters) - Dutch tank storage group Vopak ( opens new tab said on Monday its Indian joint venture, Aegis Vopak (AVTL), has successfully completed its initial public offering (IPO). The transaction will result in an exceptional dilution gain of around 110 million euros ($125.1 million) to be recorded by Vopak in the second quarter, the group said. ($1 = 0.8797 euros)
Yahoo
4 days ago
- Business
- Yahoo
AVTL successfully completed IPO
AVTL successfully completed IPORotterdam, the Netherlands, 02 June 2025 Today, we announce an update regarding the primary equity issue of our joint venture has successfully completed its IPO. The issue price for the IPO was INR 235 per share which is at the top end of the previously announced price band. The size of the primary equity issue is INR 2,800 crore (approximately EUR 290 million). The board of AVTL issued an equivalent of 10.75% of new equity shares. As a result of the issuance of new shares, Vopak's shareholding reduced from 47.31% to 42.23%. AVTL commenced trading today, Monday 2 June 2025, at the National Stock Exchange of India Limited and BSE Limited. Dick Richelle, CEO of Royal Vopak: 'We are very pleased with the successful realisation of AVTL's IPO, a significant milestone reflecting the strong partnership and collaborative spirit between Aegis Logistics and Vopak. The IPO also successfully crystallizes value for Vopak shareholders and strongly supports Vopak's strategy of expanding our portfolio of gas and industrial terminals. With continued investments in critical infrastructure we are helping the world flow forward."The transaction will result in an exceptional dilution gain for Vopak of approximately EUR 110 million to be recorded in Q2 2025 financials. Vopak will host an analysts' presentation with Vopak's CFO, Michiel Gilsing via an on-demand audio webcast on Vopak's corporate website on Monday 2 June 2025 starting at 08:00 CEST. About AVTLAVTL, established as a joint venture of Aegis Logistics Limited and Vopak India BV, is the largest Indian third-party owner and operator of tank storage terminals for liquified petroleum gas and liquid products in terms of storage capacity, as of December 31, 2024 (Source: CRISIL Report). AVTL, along with its subsidiaries, owns and operates a network of storage tank terminals (LPG and chemicals) across six Indian ports. About Royal VopakRoyal Vopak helps the world flow forward. At ports around the world, we provide storage and infrastructure solutions for vital products that enrich everyday life. These products include liquids and gases that provide energy for homes and businesses, chemicals for manufacturing products, and edible oils for cooking. For all of these, our worldwide network of terminals supports the global flow of supply and demand. For more than 400 years, Vopak has been at the forefront of fundamental transformations. With a focus on safety, reliability, and efficiency, we create new connections and opportunities that drive progress. Now more than ever, our talented people are applying this mindset to support the energy transition. Together with our partners and customers, we are accelerating the development of infrastructure solutions for hydrogen, ammonia, CO₂, battery energy storage systems, and low-carbon fuels & feedstocks – paving the way to a more sustainable future. Vopak is listed on the Euronext Amsterdam and is headquartered in Rotterdam, the Netherlands. For more information, please visit For more information please contact:Vopak Press: Liesbeth Lans - Manager External Communication - Vopak Analysts and Investors: Fatjona Topciu - Head of Investor Relations- 2025-06-02 Press release AVTL successfully completed IPOError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
7 days ago
- Business
- Reuters
Vopak in talks with partners for Australia LNG import project
SINGAPORE, May 30 (Reuters) - Vopak ( opens new tab has started talks with gas suppliers and offtakers for its liquefied natural gas import terminal project in Victoria, Australia, and expects to take a final investment decision in 2026-2027, a senior executive told Reuters. The global energy storage operator announced last week it was confident in advancing the project in Australia's biggest gas-consuming state after laws were passed to ease supply shortfalls. Paul Kanters, managing director of Vopak Terminals Australia, said operations could begin as soon as 2029 if all the necessary environmental permits and commercial contracts are in place in 2026-2027. Vopak's Victorian Energy Terminal in Port Phillip Bay is one of four proposed across Australia's southeastern states to meet domestic gas needs, as regulators warn there could be shortages as soon as 2027. The global energy storage operator plans to charter a floating storage regasification unit (FSRU) to act as an import terminal to supply gas to the state of Victoria. While Vopak is seeking an FSRU with a capacity of 170,000 cubic metres, it has been "extremely difficult" to secure one after the Russia-Ukraine war drove Europe to secure more floating terminals to import more LNG, Kanters said. "We are in final talks with a FSRU provider to have an FSRU designated for this project," he said. The company aims to start operations at the terminal in 2029 when there will be a structural gas shortage, and would run for at least 10 years, Kanters said. "The Victoria market is somewhat difficult, but sometimes because it's a peak market, you need to build infrastructure to allow for accommodating peak demand," he added. Using an FSRU also provides flexibility for operators to react to Australia's gas needs which may decline if electrification of its economy gathers speed, Kanters said. "The FSRU can simply float away and will not leave any legacy infrastructure sitting there for tens of years that needs to find a home or needs to be depreciated," he added. Australia was the world's second-largest LNG exporter last year after the U.S., shipping over 81 million metric tons of the chilled fuel, according to Kpler data. Its major reserves however are mostly in the northwest, far from the southeast where most people live.
