Oiltanking's operations during 2016 achieved an excellent result for parent company Marquard and Bahls.
Almost all regions contributed to the company's operational results, especially Asia, Latin America and Europe. The Karimun tank terminal in Indonesia was put into operation as well as the Açu Port transhipment terminal in Brazil.
Oiltanking also made several acquisitions, including the Antwerp Gas Terminal in Belgium and the acquisition of industrial land in Texas City, the US. Additionally, the shareholding in Oiltanking Odfjell Terminals Oman was also increased.
IOT's engineering, procurement and construction business in India performed significantly better than last year and ended 2016 with a positive result after restructuring. At the end of the year, the Oiltanking network comprised 81 tank terminals in 23 countries with a total capacity of 21 million m3.
Marquard and Bahls says it is focused on expanding operations, especially in its core businesses of trading, tank storage logistics and aviation fuelling. It says in a statement: 'The organisational structure will be strengthened further, in order to profit from synergies leveraged within the group.'
Expanding Oiltanking's footprint in North AmericaThe Trump effect Who's steering the ship? Expanding into new storage opportunities Unleashing America's energy Resurgent petroleum industry driving storage requirements Finite element analysis in cryogenic and refrigerated tank storage design Optimising tank terminal operations: from insight to digitalisation How to avoid building a new 10-year-old terminal Plastic tanks: Farewell to 'fit and forget'