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Latest storage news


Terminal News
April 26, 2018
Fujairah: Oil product stocks hit seven-month high
Total oil product stocks in Fujairah stood at 19.451 million barrels as of Monday, 23 April, up 7.3% from a week earlier, reaching a seven-month high on sizable jumps in light and heavy product levels, according to the latest data from the Fujairah Energy Data Committee, or FEDCom...

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Total oil product stocks in Fujairah stood at 19.451 million barrels as of Monday, 23 April, up 7.3% from a week earlier, reaching a seven-month high on sizable jumps in light and heavy product levels, according to the latest data from the Fujairah Energy Data Committee, or FEDCom.

Stocks of light distillates jumped 11.3% week on week to 8.224 million barrels, an eight-week high, the data showed. Premiums for Arab Gulf RON 95 petrol have been at $2.75/b since early April, with healthy regional demand in the run-up to Ramadan, which begins mid-May. Kuwait's KPC is seeking 25,000 mt of 91 RON petrol for delivery over May 5-6 into Mina al-Ahmadi via a tender closing Friday, S&P Global Platts Analytics said in a report.

Stocks of heavy distillates and residues also rose by 9.9% week on week to 9.478 million barrels. Pakistan State Oil (PSO) made its first purchase since January, buying 60,000 mt of LSFO and 420,000 mt of HSFO for May delivery via tender. With power demand set to rise over the summer, PSO could continue to be active in the spot market over the next few months until August/September. Higher power demand for utility grade 180 CST fuel oil could provide continued support to an already wide viscosity spread, the report said. Bunker demand in Fujairah has been improving over the past week, though buying sentiment is still tentative as market players watch the recent rally in crude prices, it said.

MIDDLE DISTILLATE STOCKS FALL ON GASOIL DEMAND

At the same time, stocks of middle distillates fell by 17.5% to 1.749 million barrels, as regional gasoil demand strengthens ahead of Ramadan. Low stocks could also spur traders into stockpiling ahead of the peak summer demand season, traders said.

Arbitrage economics are less favorable for gasoil, but the window to move cargoes from Asia to the West of Suez for 10 ppm sulfur gasoil was briefly open last week, traders said. 'The arb was open last week when EFS was around minus $12/mt; it is closed now,' a trader said Monday. Meanwhile, cross-regional flows helped support jet fuel sentiment. Viable arbitrage economics to divert barrels to the ARA region and Africa has pushed cash re-grade differentials for FOB Arab Gulf cargoes to a premium of $1.60/b to Mean of Platts Arab Gulf jet fuel/kerosene assessments recently, from $1.25/b at the end of March.



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Terminal News
April 25, 2018
Shell sells Argentina downstream business
Shell will sell its downstream business in Argentina to Raízen, including a refinery, retail stations and a range of liquid fuels businesses.The sale for $0.95 billion includes the Buenos Aires Refinery, 645 retail stations, LPG, marine fuels, aviation fuels, bitumen, chemicals and lubricants business, as well as supply and distribution activities in the country...

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Shell will sell its downstream business in Argentina to Raízen, including a refinery, retail stations and a range of liquid fuels businesses.

The sale for $0.95 billion includes the Buenos Aires Refinery, 645 retail stations, LPG, marine fuels, aviation fuels, bitumen, chemicals and lubricants business, as well as supply and distribution activities in the country.

Raízen, a joint venture between Shell and Cosan, is a leading biofuels producer and fuels distributor in Brazil, where it manages more than 6,000 Shell service stations. It also is present in 68 airport supply bases and in 68 fuel distribution terminals and sells 25 billion litres of fuel for the transportation, industrial and retail segments.

The agreement is consistent with Shell's strategy to simplify its portfolio through a $30 billion divestment programme. The sale is expected to complete later this year.



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Terminal News
April 25, 2018
HES Botlek Tank Terminal awarded security management accreditation
HES Botlek Tank Termaink is the first storage facility in the Netherlands to be awarded the ISO 28000 certificate.1SO 28000 is a supply chain security management system developed specifically for organisations offering logistic services. The awarding of the certificate makes the facility the most certified tank terminal in Rotterdam...

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HES Botlek Tank Termaink is the first storage facility in the Netherlands to be awarded the ISO 28000 certificate.

1SO 28000 is a supply chain security management system developed specifically for organisations offering logistic services. The awarding of the certificate makes the facility the most certified tank terminal in Rotterdam.

The company says in a statement that to protect its property and that of its clients, it operates a QESSH management system, which was already certified according to the strictest standards covering security, the environment, quality and health & safety.

It also operates an ISPS system to maintain the quality of its security.



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Terminal News
April 25, 2018
Buckeye & Phillips 66 to create Texas marine storage terminal
Buckeye Partners & Phillips 66 have formed a joint venture to develop a new deep-water marine storage terminal in Ingleside, Texas.The South Texas Gateway Terminal will be built on a 212-acre waterfront parcel at the mouth of Corpus Christi Bay. It will be positioned to serve as the primary outlet for crude oil and condensate volumes delivered off of the planned Gray Oak pipeline from the Permian Basin...

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Buckeye Partners & Phillips 66 have formed a joint venture to develop a new deep-water marine storage terminal in Ingleside, Texas.

The South Texas Gateway Terminal will be built on a 212-acre waterfront parcel at the mouth of Corpus Christi Bay. It will be positioned to serve as the primary outlet for crude oil and condensate volumes delivered off of the planned Gray Oak pipeline from the Permian Basin.

The terminal, to be constructed and operated by Buckeye, will offer 3.4 million barrels of crude oil storage capacity, connectivity to the Gray Oak pipeline and two deep-water vessel docks capable of berthing VLCC petroleum tankers as part of the initial scope of construction.

The facility can ultimately be expanded to include over 10 million barrels of storage capacity as well as multiple additional docks and other inbound connections.

The initial construction of the facility is supported by long-term minimum volume throughput commitments from customers including Phillips 66 and Andeavor.

It is due to start operations by the end of 2019.

Khalid Muslih, executive vice president of Buckeye and president of Buckeye's global marine terminals business unit, says: 'The South Texas Gateway Terminal will serve as a premier open-access deep-water marine terminal in the Port of Corpus Christi.

'The terminal will provide customers with logistics solutions that connect the region's rapidly growing crude oil production with advantaged access to global markets.

'This project expands our presence in the important Corpus Christi market, which we believe offers strong competitive advantages for waterborne shipments of crude oil and other petroleum products from the fast-growing Permian and Eagle Ford shale plats.

'Recently announced improvements to our existing flagship Buckeye Texas Partners terminal, which sits along the ship channel in the Port of Corpus Christi, have expanded its leading marine terminaling capabilities.

'We believe that these assets represent a competitive advantage for Buckeye and position us at the forefront of the fast-growing US crude oil export movement.'



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Technical News
April 25, 2018
TankTerminals.com will launch a new and improved database platform at the end of April.The platform, which has a new website design and database platform, has new features to improve the capabilities of this tool.It will contain a database on tank storage facilities globally, analytics tools such as a market share calculator, historic and future capacitary evolution and a competitive benchmarking tool...

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TankTerminals.com will launch a new and improved database platform at the end of April.

The platform, which has a new website design and database platform, has new features to improve the capabilities of this tool.

It will contain a database on tank storage facilities globally, analytics tools such as a market share calculator, historic and future capacitary evolution and a competitive benchmarking tool.

Patrick Kulsen, managing director of PJK International and TankTerminals.com, says: 'The improved platform will provide more insights in the global tank storage industry and will increase quality and efficiency.'

For more information, visit www.tankterminals.com.



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Terminal News
April 24, 2018
Kinder Morgan terminals segment reports increased volumes
Kinder Morgan's terminals' segment reported an increase in volumes of 5% in its first quarter 2018 financials.Volumes across its network were up 11 million barrels compared to its first quarter 2017 financials including contributions from storage capacity increases in key liquid hubs...

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Kinder Morgan's terminals' segment reported an increase in volumes of 5% in its first quarter 2018 financials.

Volumes across its network were up 11 million barrels compared to its first quarter 2017 financials including contributions from storage capacity increases in key liquid hubs. These include those along the Houston Ship Channel and Edmonton, Alberta, where it placed in-service the first six tanks of its 4.8 million-barrel Base Line Terminal crude oil merchant storage joint venture.

CEO Steve Kean says: 'Earnings were down 2% compared to the first quarter of 2017. Earnings from expansion projects, including new build Jones Act tankers, were slightly more than offset by divestitures, decreased contributions from existing Jones Act tankers driven by lower charter rates, and some softness in tank utilisation at our Staten Island, New York, and Harvey, Louisiana, locations, among other things.'



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Terminal News
April 19, 2018
Fujairah: Oil product stocks slip 2.6%
Total oil product stocks in Fujairah stood at 18.134 million barrels as of Monday, April 16, down 2.6% or 486,000 barrels from a week earlier, following a sharp draw in middle distillates stocks, according to the latest data from the Fujairah Energy Data Committee, or FEDCom...

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Total oil product stocks in Fujairah stood at 18.134 million barrels as of Monday, April 16, down 2.6% or 486,000 barrels from a week earlier, following a sharp draw in middle distillates stocks, according to the latest data from the Fujairah Energy Data Committee, or FEDCom.

Stocks of middle distillates were down by more than a quarter to 2.119 million barrels, the data showed. The Middle East gasoil market is currently seen as balanced to oversupplied, but the impending turnaround season at regional refineries has kept a lid on surplus barrels, keeping supply relatively balanced, S&P Global Platts Analytics said in a report. At the same time, sentiment in the jet fuel market has been stronger, driven by supply tightness for prompt barrels as a result of ongoing refinery turnarounds. Still-workable arbitrage economics are pushing jet fuel barrels from the Middle East and India to Europe, as well as from South Korea to the US west coast, Platts Analytics said.

A source at a Middle Eastern refiner noted that, while the European market had been encouraging for spot premiums, 'demand from Africa is also supportive'. Premiums for Arab Gulf Jet Kero were assessed at a five-week high of $1.60/b Tuesday. Stocks of light distillates edged up by 1.1 % week on week to 7.387 million barrels. Demand in the region is expected to pick up with the onset of Ramadan in mid-May. Premiums for Arab Gulf RON 95 petrol were at a three-month high of $2.75/b Tuesday. However, a sluggish market in Singapore should ensure the Middle East will have ample gasoline supplies available, which should in turn keep spot premiums from overheating, the report said.

PAKISTAN BOOST FOR FUJAIRAH FUEL OIL

Stocks of heavy distillates and residues also rose by 2% to 8.628 million barrels. Pakistan State Oil has tendered for six 180 CST cargoes of 70,000 mt each with maximum 3.5% sulfur for May delivery to Port Qasim. This is the first tender seen from PSO since January. The company halted fuel oil imports earlier this year due to the startup of a new LNG import terminal, but summer power sector demand could see Pakistan's imports continue over the next few months. The return of PSO to the fuel oil market should be a positive sign for Fujairah, which has historically been the key supply source for PSO's imports. Bunker demand in Fujairah remains sluggish, as higher crude prices have pushed the cost of delivered bunkers to $400/mt recently.



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Terminal News
April 19, 2018
Saudi Aramco & Total to build a petrochemical complex
Saudi Aramco and Total have signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia.The complex will be integrated into the SATORP refinery, a joint venture between Saudi Aramco and Total, in a move designed to fully exploit operational synergies...

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Saudi Aramco and Total have signed a memorandum of understanding to build a giant petrochemical complex in Jubail, Saudi Arabia.

The complex will be integrated into the SATORP refinery, a joint venture between Saudi Aramco and Total, in a move designed to fully exploit operational synergies. This refinery, with a capacity of 440,000 barrels per day, is recognised as being one of the most efficient in the world.

The complex will comprise a world-size mixed-feed steam cracker with a capacity of 1.5 million tonnes per year of ethylene and related high-added-value petrochemical units.

The project will represent an investment of around $5 billion and the two companies are planning to start the front-end engineering and design in the third quarter of 2018.

The cracker will feed other petrochemical and specialty chemical plants representing an overall amount of $4 billion investment by third part investors.



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Terminal News
April 18, 2018
Vopak expands Rotterdam terminal for chemical storage
Vopak is expanding its Botlek terminal in the Port of Rotterdam with 63,000 m3 of storage capacity for Styrene and other hazardous chemicals. The expansion will add 15 stainless steel tanks for Styrene, which is used in the manufacturing of a wide range of consumer goods including packaging, construction and automotive...

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Vopak is expanding its Botlek terminal in the Port of Rotterdam with 63,000 m3 of storage capacity for Styrene and other hazardous chemicals.

The expansion will add 15 stainless steel tanks for Styrene, which is used in the manufacturing of a wide range of consumer goods including packaging, construction and automotive.

The new infrastructure will be fully isolated to allow for product temperature control and is designed to prevent any emissions to the environment. It will connect seaborne trade flows via barges, block-trains and trucks to the European hinterland.

It is expected to be commissioned in the second quarter of 2020.

Vopak’s quarter one update reports that its occupancy rate is 87% compared to 91% in the first quarter of 2017 due to lower rented capacity at oil hub terminals caused by a less favourable market structure. Other product market segments show stable demand for storage services.

It reports an EBITDA of €190 million.

It says in the update that its 2018 financial performance is expected to be influenced by currency exchange movements of primarily the USD and SGD and the less favourable oil market structure, impacting occupancy rates and price levels in hub locations.

Vopak adds that, given the current 3.1 million m3 expansion programme with high commercial coverage, along with its ongoing cost efficiency programme, it has the potential to significantly improve the 2019 EBITDA, subject to market condition and currency exchange movements.



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Terminal News
April 17, 2018
New aviation tank terminal opened at Dublin Airport
A new €40 million aviation fuel storage terminal has been opened at Dublin Airport.The facility has six times the capacity of the original facility, with three new aviation fuel tanks capable of storing 15 million litres of fuel in total.The project also includes connecting the fuel farm to a fuel hydrant system, which enables the fuel to be delivered directly into the aircraft via a hydrant dispenser that connects to a pit in the ground...

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A new €40 million aviation fuel storage terminal has been opened at Dublin Airport.

The facility has six times the capacity of the original facility, with three new aviation fuel tanks capable of storing 15 million litres of fuel in total.

The project also includes connecting the fuel farm to a fuel hydrant system, which enables the fuel to be delivered directly into the aircraft via a hydrant dispenser that connects to a pit in the ground.

The new facility means that aircrafts can now be refuelled in less than half the time it took under the old system, and the number of fuel vehicles on the apron area has reduced by 50%.

The CLH Group was awarded the contract to design, finance, build, operate and transfer.

Vincent Harrison, Dublin Airport managing director, says: 'The extra fuel storage capacity that this development brings is hugely welcome. The new fuel farm has brought significant efficiencies and benefits for our airline customers.'



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Terminal News
April 16, 2018
Pakistan's largest and most advanced fuel storage facility has been officially opened at the New Islamabad International Airport.The facility, which was inaugurated by Sardar Mehtab Ahmad Khan, advisor to the prime minister on aviation division, is jointly developed by Pakistan State Oil and Attock Petroleum...

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Pakistan's largest and most advanced fuel storage facility has been officially opened at the New Islamabad International Airport.

The facility, which was inaugurated by Sardar Mehtab Ahmad Khan, advisor to the prime minister on aviation division, is jointly developed by Pakistan State Oil and Attock Petroleum.

He said during the opening that the fuel facility was a big step forward in effectively meeting the growing fuelling needs of the aviation industry and was all set to serve the largest airport in Pakistan.

Th3e facility is equipped with robust storage capacity, maximum product pumping ability to refuel multiple aircrafts in minimal time and the latest detection, firefighting and alarm systems.

MD and CEO PSO Sheikh Imranul Haque said: 'We feel extremely delighted and proud in launching the country's largest and most advanced fuel farm facility at the largest and most advanced airport in Pakistan.'



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Terminal News
April 16, 2018
Stolthaven Terminals expects continued performance improvements
Increased utilisation and ongoing operational enhancements will contribute towards steady performance improvements at Stolthaven Terminals.The terminal division of Stolt Nielsen reports first quarter revenue of $62.5 million compared to $61.4 million in the fourth quarter of 2017...

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Increased utilisation and ongoing operational enhancements will contribute towards steady performance improvements at Stolthaven Terminals.

The terminal division of Stolt Nielsen reports first quarter revenue of $62.5 million compared to $61.4 million in the fourth quarter of 2017. Utilisation edged up and total product handled increased by12.9% in the first quarter, mainly attributed to normalisation of operations at Stolthaven Houston following Hurricane Harvey.

It reported first-quarter operating profit of $25.9 million, compared with $5.4 million in the fourth quarter. The increase mainly reflected $8.2 million of additional equity income resulting from a reduction of net deferred tax liabilities at its joint venture terminal in Antwerp in the first quarter, combined with the $8.4 million one-time impairment of assets at Stolthaven New Zealand in the previous quarter.

Growth in operating income also reflected higher equity income from Stolthaven's joint venture terminals in Ulsan, South Korea and Lingang, China.



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Terminal News
April 16, 2018
Enterprise to expand Houston marine storage terminal
Enterprise Products Partners will expand its marine terminal on the Houston Ship Channel after purchasing a 65-acre waterfront site.The Enterprise Hydrocarbon Terminal currently comprises two existing docks, dredging infrastructure that will be utilised for maintenance and dock expansion at the site, and land for significantly expanding its marine terminalling capabilities...

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Enterprise Products Partners will expand its marine terminal on the Houston Ship Channel after purchasing a 65-acre waterfront site.

The Enterprise Hydrocarbon Terminal currently comprises two existing docks, dredging infrastructure that will be utilised for maintenance and dock expansion at the site, and land for significantly expanding its marine terminalling capabilities.

Future expansion plans include construction of at least two deepwater docks capable of accommodating Suezmax vessels.

A.J 'Jim' Teague, CEO of Enterprise's general partner, says: 'As one of the last waterfront properties for sale adjacent to our existing shop channel assets, this strategic acquisition complements our world-class EHT marine terminal and strengthens our position as an industry leader in providing waterborne access.

'The growth opportunities available at the 65-acre site enhance our ability to accommodate growing US hydrocarbon production, which is increasingly destined for global markets.'

The newly acquired assets will be part of Enterprise's premier Gulf Coast network of marine terminals that includes 18 ship docks, and eight barge docks.



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Terminal News
April 13, 2018
SemGroup completes sale of UK storage business to Valero
SemGroup has completed the sale of its UK petroleum storage business to Valero Logistics UK.SemGroup intends to use the processes from the sale of its SemLogistics business unit towards its capital raise plan and to pre-fund capital growth projects.'The sale of our UK petroleum storage facility is an important achievement in our strategy to simplify our portfolio and focus on the North American growth areas we have identified along the Gulf Coast, Mid-Continent and Canada,' says SemGroup president and CEO Carlin Conner...

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SemGroup has completed the sale of its UK petroleum storage business to Valero Logistics UK.

SemGroup intends to use the processes from the sale of its SemLogistics business unit towards its capital raise plan and to pre-fund capital growth projects.

'The sale of our UK petroleum storage facility is an important achievement in our strategy to simplify our portfolio and focus on the North American growth areas we have identified along the Gulf Coast, Mid-Continent and Canada,' says SemGroup president and CEO Carlin Conner.



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Terminal News
April 13, 2018
Sempra Energy to build marine storage terminal in Mexico
Sempra Energy plans to develop, build and operate a liquid fuels marine terminal at the La Jobita Energy Hub in Ensenada, MexicoThe Baja Refinados terminal will be a receipt, storage and send-out facility operated by Infraestructura Energética Nova, a subsidiary of Sempra...

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Sempra Energy plans to develop, build and operate a liquid fuels marine terminal at the La Jobita Energy Hub in Ensenada, Mexico

The Baja Refinados terminal will be a receipt, storage and send-out facility operated by Infraestructura Energética Nova, a subsidiary of Sempra.

It will have an initial storage capacity of one million barrels of petrol and diesel that will increase the fuel supply capacity and reliability in Baja California. It will cost around $130 million and operations are expected to start in the second half of 2020.

IEnova also announced it has signed a long-term contact with Chevron Combustibles de Mexico for 50% of the facility's storage and send-out capacity to supply Chevron service stations and other commercial and industrial consumers in the region.

Chevron will have the option to acquire 20% equity ownership of the facility after commercial operations begin.

IEnova will be responsible for the development of the liquid fuels terminal project, including obtaining permits, engineering, procurement, construction and financing, as well as maintenance and operations.



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