In line with the strategy of Oiltanking to strengthen its position in chemical logistics worldwide, Oiltanking is constructing, next to their petroleum terminal in Singapore, 130.000 cbm of tankage and 2 jetties for the handling of chemical products. Total investment is about SGD 110 million (USD 63 million). The company will be renamed Oiltanking Odfjell Terminal Singapore Pte Ltd and Oiltanking will be the managing partner.
The joint venture between Oiltanking and Odfjell will establish a tank terminal operation on Jurong Island, Singapore that will serve both the tenants on Jurong Island as well as the chemical industry at large for independent liquid bulk chemicals storage and related services. Both Oiltanking and Odfjell are committed to further expand to a world-scale chemical terminal. The new terminal is strategically very well located on Jurong Island and the co-operation of Oiltanking and Odfjell will create the capability to offer its customers a wider range of services.
In Singapore, Oiltanking is currently operating 855.000 cbm of tankage for the storage of petroleum products on Jurong Island, of which 135.000 cbm is in joint venture with neighbouring Power Seraya. The terminal, which has 8 jetties at its disposal, is integrated by various pipelines to amongst others PCS, Shell and Power Seraya.
Odfjell’s strategy is to have storage facilities at important chemical distribution centres around the world. Achieving a foothold in Singapore in addition to Odfjell’s terminals in Rotterdam and Houston is an important step in this direction.
Odfjell is the leading player in the global market for the transportation of chemicals and related logistical services. The fleet totals 85 vessels, trading both globally and regionally. Odfjell’s global trade services link South East Asia with Europe, USA, South America, Africa and the Middle East, and an expanding regional fleet, operated from Singapore, trades extensively in Asia, Australia and New Zealand. Odfjell Terminals has a worldwide network of 11 chemical tank terminals with a total storage capacity of 2,4 million cbm. Odfjell additionally owns and operates tank containers. Priority is being given to further developing the company's integrated logistical services for the chemical industry.
Oiltanking GmbH, a division of the German Marquard & Bahls AG, is one of the leading providers of traditional independent storage services in the petroleum and (petro-)chemical sector worldwide, with a total storage capacity of 9,4 million cbm. The group handled approximately 70 million tons of liquid bulk commodities in the year 2000.