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Terminal News

Oiltanking reports mixed year performance

Oiltanking reports mixed year performance
Marquard & Bahls has reported a mixed 2017 performance, with its tank storage division – Oiltanking – delivering a strong contribution to its financials.

The group says that Oiltanking had a 'successful albeit mixed year'. Some facilities saw a decline in capacity utilisation, but at the same time many contracts were extended and several major projects advanced.

In Matola, Mozambique, Oiltanking successfully commissioned a new tank terminal. The year-end, the company operated 80 terminals in 25 countries, with a total capacity of 21 million m3.

In view of the new tank terminal projects currently under construction and the expansion of existing locations, Oiltanking is confident that it will continue to grow in the future, with a particular focus in gases and chemicals.

Marquard & Bahls reported its 2017 operating result of €200 million.

Looking ahead, Marquard & Bahls says it will strive for further international growth in the future. Its focus will be on expanding the core activities of trading, tank storage logistics and aviation fuelling. It adds: 'The strong operating base and solid financial position provide a good starting point for future projects and plans.'



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