Tank Storage News

/Tank Storage News/

Dubai Trader Plans Fujairah Fuel Oil Treatment, Storage Facility to Cope With IMO 2020 Rules

Dubai-based Earth Wealth Energy plans to build a 360,000 cu m fuel oil storage and treatment facility at the port of Fujairah in readiness for International Maritime Organization’s 0.5% cap on sulfur content in bunker fuels from 3.5% currently from January 1, 2020, the company said. It plans to build 12-15 storage tanks and a [...]

April 14th, 2018|Tank Terminal|

Vitol Leads Top Four LNG Traders In 2017 Growth Stakes

Geneva-based Vitol increased the volume of LNG it traded last year by 185%, to 7.4M tonnes from 2.6M tonnes in 2016. The performance pushed the company up into the top rank of LNG trading companies. Vitol has been active in LNG trading since 2006 and is now one of the four commodity merchants with a [...]

April 2nd, 2018|Tank Terminal|

Both Nieuwe Waterweg Deepening and Botlek’s Docks Expected to Bring Rotterdam an Extra 5-10M TPA

This is estimated by Mr Edwin Hupkes, who is for the Port of Rotterdam responsible for the expansion of the Botlek area. Today about 50 million tons per annum is being transferred in these docks. We expect that this will increase with 10 to 20% after the increase of the depth. The project requires an [...]

March 30th, 2018|Tank Terminal|

Fuel Oil Storage Sees Weakening Demand On 2020 Deadline

Fuel oil storage terminals are feeling the squeeze as the International Maritime Organisation (IMO) sulfur cap deadline looms ever closer. International Matex Tank Terminals, located near the port of New Orleans, has seen a number of storage leases cancelled for heavy fuel oil according to operator Macquarie Infrastructure Corporation and reported by the Financial Times. [...]

March 20th, 2018|Tank Terminal|

Odfjell Terminals Rotterdam Expands Jetty Capacity

Odfjell extends and strengthens its existing jetty to accommodate vessels of the LR2 (Long Range) size with a maximum of 160,000 dwt. The expansion is done in close collaboration with the Port of Rotterdam. This functionality will underpin OTR’s mineral oil business and PID utilization ambitions as ship sizes continue to increase. As a result, [...]

March 10th, 2018|Tank Terminal|

Dutch Firm Vopak 2017 Earnings Beat Expectations, Shares Surge

Vopak on Friday said core earnings excluding exceptional items fell 7 percent in 2017 to 763 million euros ($957 million), but the Dutch oil and chemical storage company still beat forecasts and its shares rose sharply. Analysts polled for Reuters had on average expected earnings before interest, taxation, depreciation and amortisation (EBITDA), including joint ventures, [...]

February 19th, 2018|Tank Terminal|

Alpha Terminals Commits to €250 Million Investment in New Flushing Terminal

The new 500,000 cbm-capacity facility at the Port of Flushing (Vlissingen), one of the ports of the new North Sea Port grouping, will offer storage for liquid bulk products, such as oil, oil products and chemicals. According to Alpha Terminals, the terminal, which will be constructed at the mouth of the Sloehaven, should be able [...]

February 15th, 2018|Tank Terminal|

Vopak’s Terminal Barranquilla Received Bonded Warehouse Permit

Vopak’s Terminal Barranquilla in Colombia has received a Bonded Warehouse permit to store an additional 15,734 cubic metres of product without nationalizing. The company said this authorisation enables Vopak Colombia to better serve its customers. The Terminal Barranquilla is located near consumption and production centres and features some of the best infrastructure in the region. [...]

February 9th, 2018|Tank Terminal|

Fujairah to Publish Commercial Storage Capacity Data

Fujairah Oil Industry Zone, in a bid to become a global oil trading and storage hub, has renewed a deal with S&P Global Platts to publish its commercial storage capacity data to the market every Wednesday. S&P Global Platts, an independent provider of information, benchmark prices and analytics for the energy and commodities markets, first [...]

February 5th, 2018|Tank Terminal|

Port of Rotterdam Makes an Extra 100 Hectares Available at Maasvlakte 2 for Distribution Companies

Increasing demand for port-related logistics real estate has resulted in the Port of Rotterdam Authority classifying a further 100 hectares of land at Maasvlakte 2 as a distribution park. ‘Distripark Maasvlakte West’ is currently the only available ‘greenfield’ site for distribution in the Port of Rotterdam, the company said in its press release. “Distripark Maasvlakte [...]

January 31st, 2018|Tank Terminal|