Matrix Terminal Marketplace and Insights Global are proud to announce that they have entered into a Memorandum of Understanding to integrate Matrix’s Terminal Marketplace System and Insights Global’s TankTerminals.com data services to create an electronic platform for the purchase and sale of storage for crude oil, refined products, and other bulk liquid commodities.
The Terminal Marketplace System is an innovative electronic platform that allows customers to offer, purchase and sell liquid bulk storage and related terminal services. Insights Global has developed TankTerminals.com, the preeminent database for bulk liquid storage, which currently provides in depth information on over 6,750 storage terminals worldwide.
By integrating Matrix’s Terminal Marketplace System and Insights Global’s TankTerminals.com, customers will be able to use a single electronic platform to (i) efficiently offer, purchase, and sell storage and related terminal services for crude oil, refined products and other bulk liquid commodities at any storage facility in the world, and (ii) seamlessly access data for any storage facility.
The acceleration in the flow of information during the last five years has increased the complexities of purchasing and selling storage for crude oil, refined products and other bulk liquid commodities. By creating a one stop location to analyse, compare and transact for liquid bulk storage worldwide in real time, the new platform will provide customers with a more efficient way to purchase and sell storage. The Terminal Market Place is planned to be launched through TankTerminals.com in the third quarter of 2021.