Kernel buys edible oils terminal at Pivdennyi

Ukrainian agribusiness Kernel Holding has completed its US$19.8M purchase of OilExportTerminal, an edible oils trans-shipment terminal in the port of Pivdennyi in the Odessa region of the Black Sea, World Grain reported on 30 January.

According to the company’s second quarter fiscal year 2023 operations update, the transaction was completed in December.

In addition to truck, rail and ship loading capabilities, the terminal accepts and stores up to 49,404 tonnes of edible oils such as rapeseed, soyabeans and sunflower.

Kernel CEO Yevgen Osypov said the terminal was strategically important for the company as oil trans-shipment remained unavailable at the Mykolaiv terminals on the Black Sea following

Russia’s invasion of Ukraine on 24 February. Three Black Sea ports (Odessa, Chornomorsk and Pivdennyi) reopened under a grain corridor deal brokered by the United Nations and Turkey that was signed on 22 July by Russia and Ukraine.

Although Mykolaiv port accounted for about half of total oil trans-shipment volumes in Ukraine in the 2019-2022 marketing years, it was not covered by the Black Sea Grain Initiative, the company said on 26 January.

Kernel owns eight oilseed processing plants in Ukraine with a total capacity to process 3.5M tonnes/year of sunflowerseeds, the report said. According to its website, Kernel is Ukraine’s largest producer and exporter of sunflower oil, and a major supplier of agricultural products.

Palm oil imports through Kerala still banned

The Indian government’s Director General of Foreign Trade (DGFT) has extended the ban on palm oil imports through Kerala ports until further notice, the Hindu Business Line reported on 3 January.

It has also extended the import duty waiver on refined palm oil and palm olein oil.

The government banned imports of palm oil through Kerala ports in 2007 in a bid to protect coconut growers.

The duty waiver and imports ban had been due to end on 31 December but were extended reportedly following a request from the Coconut Development Board and various farmer organisations.

Cochin Port Users Forum had urged the DGFT to lift the palm oil import restrictions to boost the port’s revenue, the Hindu Business Line wrote.

Industry sources also noted that imported palm oil was still flowing to the state by road after being unloaded at Tuticorin and New Mangalore ports, the report said.

Sale of IMTT Gretna terminal completed

US bulk liquid storage and logistics provider BWC Terminals has completed its acquisition of IMTT’s Gretna Terminal located on the Mississippi River in Harvey, Louisiana.

The facility comprises 56 storage tanks with a total capacity of 2.2M barrels. Products handled include speciality chemicals, petroleum products, base oils, biodiesel and vegetable oils.

IMTT chairman and CEO Carlin Conner said with the reinvestment of proceeds from the sale and the completion of renewable fuel and chemical-related infrastructure projects, over half of IMTT’s revenue this year would be from the handling of non-petroleum products, such as renewable diesel feedstocks, renewable diesel, chemicals and vegetable and tropical oils.

Following the sale, IMTT would continue to own and operate its 16 other terminals across North America, including its three Louisiana terminals located along the Mississippi River in Avondale, Geismar and St Rose, a 5 January Business Wire report said. BWC Terminals operates 18 sites with a total storage capacity of 16M tonnes. A range of renewable fuels, agriculture, speciality chemicals, food grade and petroleum-based products are stored at the facilities.