A preview of the latest products to be exhibited at StocExpo Asia
The first ever StocExpo Asia is just about to take place from 2-3 October, at the Suntec Expo in Singapore.
The event will bring together terminal operators from throughout Asia for a conference and exhibition. Topics covered will include key drivers in the region, market challenges and a look to the future.
Singapore's oil storage industry has been through a large amount of expansion and investment in recent years. As of next year, investors from the region and abroad would have invested nearly $1 billion (€732 million), escalating Singapore's third party capacity from 3.6 million m3 to 7.3 million m3.
Singapore has become Asia's leading oil trading and blending centre. The Singapore government has announced plans to build at least 3 million m3 of underground storage capacity on Jurong Island, the oil-petrochemical hub, by 2009. Before the year is out, foreign companies Vopak, Oiltanking and Horizon Terminals will bring more than 1.3 million m3 in new tank capacity.
In addition to being a top
international petrochemical
hub, Singapore ranks in the
top five bulk liquids ports in
the world. Alongside
Singapore, and due to Asia's
ever-increasing energy
requirements, storage capacity
looks to increase in countries
such as China, Indonesia, Vietnam and Thailand.
