Tank Storage News

/Tank Storage News/

Odfjell Sees Significant Earnings Upside for its Chemical Tankers

Chemical tanker firm Odfjell sees significant upside potential to its earnings ahead as low-yielding contracts expire, new vessels are brought in and market rates for transporting chemicals recovers, it said on Tuesday. In total, 18 of Odfjell’s ships come off time-charter (TC) contracts this year, out of a fleet of 83 vessels. “We still have [...]

June 12th, 2018|Tank Terminal|

Ogra Proposes Construction of Ten New Oil Storage Facilities

10 new oil marketing companies are expected to be established next year for more effective supply of petroleum products across the country. The Oil and Gas Regulatory Authority (Ogra) has proposed the construction of 10 new oil storage facilities, having a combined capacity of 304,445 metric tons petrol and 446,335 diesel, during the financial year [...]

May 31st, 2018|Fuel Storage|

Brand-New Jetty At Rotterdam LBC Tank Terminals Ready For Vessels

LBC Tank Terminal Rotterdam recently accomplished a major milestone in their expansion project known as Rainbow with the birthing of the first vessel at a brand-new jetty, the company said in its press release. The LBC Tank Terminals Group is currently focused on expanding the LBC Rotterdam site in the Botlek area of Rotterdam, the [...]

May 24th, 2018|Tank Terminal|

Vopak Terquimsa Enters Phase II Expansion

Vopak’s Spanish joint venture Vopak Terquimsa is set to begin construction work on the second phase of its expansion project at the Tarragona terminal. With this second expansion, Vopak Terquimsa will see its capacity reach more than 40,000 cbm, reinforcing its already leading storage position in the Port of Tarragona. The expansion will take place [...]

May 19th, 2018|Tank Terminal|

HES Botlek Tank Terminal First In The Netherlands To Receive ISO 28000 Certification

The HES Botlek Tank Terminal has become the first tank terminal in the Netherlands to be awarded the ISO 28000 certificate. “And we are extremely proud of our achievement! The awarding of this certificate means that not only can we call ourselves the first tank terminal in the Netherlands to be ISO 28000 certified, but [...]

April 24th, 2018|Tank Terminal|

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|