Dutch oil and chemical storage company Vopak reported on Friday a profit beat for the three months to September but lowered its full-year guidance for growth investments. The group, which runs tank terminals worldwide, said its growth investments should reach about 275 million euros ($314.57 million) in 2021, down from the range of 300 million [...]
In the Port of Rotterdam, the first companies are busily preparing for the storage, processing and transit of hydrogen: a promising energy carrier that will allow companies to make the transition to climate neutrality. Tank terminals at Europoort This is one of the findings of a study conducted by the Port Authority into the development [...]
Terminal owner VTTI is to close its bitumen-producing ATPC refinery in Antwerp, Belgium, stoking concerns about supply of the road-paving product after a string of recent capacity terminations. Trading firm Vitol, which supplies feedstocks to and markets bitumen from the refinery, said today it had been “notified by VTTI of its intention to close [...]
Monitoring oil demand will be much more important than ever, after the Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, on Monday kept their current agreement to gradually raise their production of crude oil. The decision led to a rally in oil prices to multiyear highs as traders anticipate that [...]
LNG import terminals, to be built in 12-15 months, will help cope with gas crisis Pakistan is all set to install two more liquefied natural gas (LNG) import terminals over the next 12-15 months to deal with the ballooning gas crisis after the government approved connection of the terminals with transmission and distribution network from [...]
The Port of Fujairah, the world’s third-biggest bunkering hub, is expecting a record year in throughput for its liquid bulk volumes as the facility continues to grow its services and terminals boost their operations, its business development manager said Sept. 28. “Liquid bulk is outperforming our expectations,” Martijn Heijboer told the Fujairah APPEC virtual [...]
Stolthaven Terminals and Revivegen Environmental Technology Co. LTD have signed a letter of intent to jointly develop a new greenfield terminal in Kaohsiung Port, Taiwan. Following Revivegen’s successful award of a land lease at the port, the two companies are currently working on a comprehensive feasibility study. Stolthaven Terminal’s interest in the new JV is [...]
Harvestone Group, a global commodity merchant focussed on biofuels, has bought Gateway Terminals in Sauget, Illinois, US. Gateway Terminals, on the banks of the Mississippi River, was built in 2008 and has a capacity of 400,000 bbl. It is a multimodal terminal with truck, rail, and barge loading and unloading capabilities. Kevin Stewart, chief [...]
The Fujairah Oil Terminal (FOT) is upgrading its infrastructure to link the storage site with a key crude pipeline and the terminal for supertankers at the Port of Fujairah, in order to meet an expected boom in crude oil trading, FOT chairman Steve Bickerton has told Reuters. “That’s a game changer because it gives [...]
Dutch oil storage company Vopak (VOPA.AS) on Wednesday reported second-quarter net profit that missed market expectations, after taking an impairment related to its terminal in Panama, sending its shares down nearly 8%. The group, which operates storage terminals around the world, reported net profit of 76.1 million euros ($89.86 million) in the three months to [...]
