Growing demand for storage, blending and transshipment services for petrol and other light oil products has prompted the Netherlands-based tank storage company Vopak to expand its terminal currently under construction in Amsterdams Westpoort industrial zone.
The 620,000m3 of storage capacity provided by phase 1, which is already under construction, will be increased by a further 570,000m3.
After the phased completion of the terminal between 2011 and 2012, total storage capacity will be approximately 1.2 million m3.
Construction started in the Port of Amsterdam in 2009.
The Port plays an important international role in the Amsterdam-Rotterdam-Antwerp (ARA) region as a logistics hub for petrol and related product flows between Europe, North America and Asia.
With the growing geographical imbalance between supply and demand, the new Vopak terminal will enable both existing and new customers to strengthen their positions.
A substantial proportion of the total storage capacity has already been leased on a long-term basis from the completion date.
Diesel fuel and petrol products will be blended at the terminal with other components to bring them up to specification for the various markets. Petrol will be distributed by tanker to such destinations as the US, where there is a structurally high demand for petrol.
In addition, tank barges will serve the European market by inland waterway.
The terminal will have two marine jetties handling ocean-going vessels of up to 120,000 DWT and eight berths for coasters and barges of up to 20,000 DWT.
Vopak operates 79 terminals with a storage capacity of more than 28 million m3 in 31 countries.
In related news 2009 group operating profit before amortisation and depreciation (EBITDA) has increased 20% to 513.4 million in line with the earlier indicated outlook.