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  • Jurong Port and Oiltanking Singapore Sign Joint Venture Agreement for New Storage Terminal in Singapore
    édité le 04/12/2015 - Plus de news de "Oiltanking" - Voir la fiche entreprise de "Oiltanking"

Jurong Port and Oiltanking Singapore Sign Joint Venture Agreement for New Storage Terminal in Singapore
Jurong Port Pte Ltd and Oiltanking Singapore Limited are pleased to announce the signing of a joint venture agreement to develop, own and operate a new liquid bulk terminal that will be located on 16 hectares of existing land in Jurong Port, opposite Jurong Island, Singapore. Jurong Port will hold 60 percent of the shares in the joint venture and Oiltanking Singapore 40 percent.

Designed to store and handle both clean petroleum products and chemicals, the new liquid bulk terminal will have an initial capacity of 200,000 cbm, with the potential to add another 230,000 cbm, for a total capacity of 430,000 cbm. It will be supported by jetties with a draft of 16 meters, capable of berthing vessels up to 120,000 DWT.

The new liquid bulk terminal will support the increasing demand of storage needs in Singapore with its integration to Jurong Island, Asia’s petrochemical industry hub. This facility is also well positioned for synergy building and maximization of operational efficiencies through the establishment of physical connectivity via pipelines. By being connected to the petrochemical network on Jurong Island, this provides strategic benefits for prospective customers.

Both partners will benefit from the joint venture. The new terminal strengthens Oiltanking Singapore’s position and enables the company to expand its overall operations within the island state, which is also known as the petrochemical hub of the vibrant Asia region.

Jurong Port views the partnership with Oiltanking, an established global liquid bulk handling and storage specialist, as an opportunity to enable greater development of its multi-purpose port operating expertise and optimization of its asset utilization while simultaneously ensuring enhanced productivity and capacity in the handling of its other dry bulk and break-bulk cargo.

Headquartered in Singapore, Jurong Port is a leading international multi-purpose port operator. Established in 1965, the port initially served Singapore’s Jurong Island industrial estate. Jurong Port has since expanded to serve as Singapore’s main general and bulk cargo gateway. Jurong Port’s multi-purpose port operating expertise includes efficient handling of general, bulk and containerized cargo, management and operations of the Tuas Offshore Marine Centre, and Lighter Terminals in Penjuru and Marina South. Besides Singapore, Jurong Port is involved in overseas joint ventures in China and Indonesia. In 2014, Jurong Port handled close to 32 million tons of general and bulk cargo, and 600,000 TEUs of container cargo at its local and overseas facilities.

Oiltanking Singapore Limited currently owns and operates a 1,265,000 cbm petroleum products storage terminal in Jurong Island, Singapore. The company is a majority-owned subsidiary of Oiltanking GmbH.

About Oiltanking

Oiltanking GmbH is a subsidiary of Marquard & Bahls, a Hamburg-based family-owned company that operates in the fields of energy supply, trading and logistics. Oiltanking is the second largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 73 terminals in 22 countries within Europe, North and South America, Middle East, Africa, India as well as in Asia. Oiltanking has an overall storage capacity of 19 million cbm.

Origine : Communiqué Oiltanking

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