Vopaks new modern chemicals storage terminal in Vietnam, commissioned in June, is now ready to serve the market.
The terminal is located in Vietnams Dong Nai Province at the Nhon Trach District, Phuoc Khanh Ward location.
The terminal boasts 35 tanks with a total storage capacity of 48,200 m3 with the possibility to expand with another 60,000 m3 depending on market demand.
It will serve the fast growing chemical manufacturing plants in the northern, central and especially at the southern region where the majority of the end users are located and where the terminal is situated.
The terminal is ready to be part of the supply chain for the fast growing chemicals manufacturing industry where it supplies more than 89 million people in Vietnam.
The terminal is currently the biggest independent tank storage terminal in Vietnam with ease of access to the end-users to be found in the major chemical manufacturing hub.
The terminal is also situated in a key growth and development area targeted by the government.
In Europe, Shell and Vopak have entered a joint venture to develop a liquefied natural gas (LNG) terminal at Fos-sur-Mer, France.
The Fos Faster LNG terminal has an initial planned capacity of around 8 billion m3 of gas per year, more than 15% of the current annual gas consumption of France.
Subject to market demand, permitting and approval processes the terminal could commence operations around the middle of the next decade.
The proposed terminal would further enhance gas supply diversification by providing France and Europe access to new sources of natural gas.
Fos Faster LNG terminal will be positioned as an independent multi-customer terminal. The business model of the terminal will be similar to the Gate terminal currently under construction in Rotterdam.
Vopak LNG Holding will become the main shareholder with a 90% share in the joint venture, the Fos Faster LNG Terminal, and Société des Pétroles Shell will hold the remaining 10%.
Fos Faster will be developed as part of the expansion strategy of the Grand Port Maritime de Marseille and in close cooperation with the Port Authority.
In related news, Vopaks preliminary report on the first six months of 2009 anticipates group operating profit excluding exceptional items of around 185 million. This represents an 18% increase compared to the same reporting period in 2008.