Russia-based transportation company Severstaltrans has engaged ING Corporate Finance to manage the sale of its 80% shareholding in the Estonian Oil Services (EOS).
There had been reports last month that Severstaltrans had been approaching potential buyers for its stake in EOS, one of the largest fuel oil terminals on the Baltic Sea coast situated in the Estonian port of Muuga.
EOS transships Russian and Belorussian heavy fuel oils and crude oil for global export markets. In 2006, around 20% of Russian heavy fuel oil exports was transshipped via EOS.
According to Anna Vostrukhova, a spokeswoman for Severstaltrans, companies like TNK-BP, Surgutneftegaz and Gazprom Neft export crude oil and oil products through EOS.
“There is much interest in the sale,” said Vostrukhova, without going into detail about a possible sale price or why Severstaltrans wanted to sell EOS.
There has been speculation that it is part of a Russian move to reduce the volume of fuel oil exports moving through Estonia.
Last month had seen Russia cut fuel oil shipments via Estonia for the second time in three months, but reports say that bunker operations in the Estonian port of Tallinn remained unaffected.
Meanwhile, reports claim that Royal Vopak, Shell and Trafigura Ltd. may be interested in bidding for EOS.
There had been reports last month that Severstaltrans had been approaching potential buyers for its stake in EOS, one of the largest fuel oil terminals on the Baltic Sea coast situated in the Estonian port of Muuga.
EOS transships Russian and Belorussian heavy fuel oils and crude oil for global export markets. In 2006, around 20% of Russian heavy fuel oil exports was transshipped via EOS.
According to Anna Vostrukhova, a spokeswoman for Severstaltrans, companies like TNK-BP, Surgutneftegaz and Gazprom Neft export crude oil and oil products through EOS.
“There is much interest in the sale,” said Vostrukhova, without going into detail about a possible sale price or why Severstaltrans wanted to sell EOS.
There has been speculation that it is part of a Russian move to reduce the volume of fuel oil exports moving through Estonia.
Last month had seen Russia cut fuel oil shipments via Estonia for the second time in three months, but reports say that bunker operations in the Estonian port of Tallinn remained unaffected.
Meanwhile, reports claim that Royal Vopak, Shell and Trafigura Ltd. may be interested in bidding for EOS.