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Is the new Directive on European minimum oil stocks (2009/119/EC) a good move?
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Tank Storage Canada expo & conference
28 September 2010 - 29 September 2010
Calgary, Alberta, Canada
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FAME 2010
13 September 2010 - 14 September 2010
Berlin, Germany |
Biodiesel Congress
22 September 2010 - 24 September 2010
Sao Paulo, Brazil |
Tank Storage Association conference and exhibition
23 September 2010 - 23 September 2010
Coventry, UK |
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Volume 6, Issue 3
Feature: Ever expanding possibilities |
As the financial storm subsides it is time for an evaluation. The storage terminal operator looks at his carbon and stainless steel tanks and sees the structure intact and is happy the orange-brown sprawl of rust has not settled in just yet. He taps the tank and hears a dull thud resonate back to him. It is a satisfying sound – the tanks are full. He thanks the contango which means traders are storing product for longer. He knows however that they are looking hungrily for space to store more. He calls his chief financier and is pleased to hear that higher renewal rates mean revenue is up. Shortly after he recalls with elation that the terminal’s new revolver loan has just been finalised. Now he has capital to fuel opportunity. Where space is available he goes into expansion mode, or looks for an acquisition, and if the opportunity permits he looks to construct from scratch. Across the US over the past year new tankage has sprouted at a time when growth in other industrial markets seems doomed. Terminal majors including Arc Terminals, Kinder Morgan, Global Partners and Buckeye are busying buying up assets while players such as Blackwater Midstream, NuStar Energy and Westway Terminals are acquiring, expanding and in some cases constructing from new.
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