Greece-based Aegean Marine Petroleum is planning to complete three fuel storage terminals by 2012 in Jamaica, UAE and Morocco.
In Kingston, Jamaica, the marine fuel logistics company is building a 120,000m3 terminal at a price tag of US$20 million (15.4 million).
The need for a land facility arose after Aegean sold its single hull tanker Aegean IX, which operated as its floating storage facility in Jamaica.
It is now developing land where it can store fuel including marine fuel oil (MFO) and marine gas oil and load its bunkers that supply vessels entering Jamaican waters. It entered into an agreement to purchase for US$9.8 million the property in Rockfort, Kingston, from which it currently operates.
The Greek firm has been authorised by the Port Authority of Jamaica to act as a physical supplier of marine petroleum products in Jamaica and it services customers in the ports of Kingston and Ocho Rios while it is not restricted to those locations.
Aegean is also building a 500 million litre terminal in Fujairah, United Arab Emirates.
Aegean will lease a 218,000m3 terminal in Tangiers, Morocco, being built by Horizon Terminals.