April 7, 2010 [Apetra] - In order to realise its targets 2012 concerning the build-up of its stocks in property, APETRA has, in addition to the already contracted volumes, still a total need of some 660.000 m3 of storage capacity for heating oil, diesel and crude oil. For this purpose, APETRA has launched, at the end of last week, a new series of calls for tenders for new or retrofit projects and for existing capacity for middle distillates and crude oil in Belgium and abroad. Read More>>
April 7, 2010 [Bunkerworld] - Development of a bunker hub on a reclaimed island just off the southernmost Malaysian port of Tanjung Pelepas is on track, company sources from project developer and operator Asia Petroleum Hub (APH) told Bunkerworld this week. Read More>>
April 7, 2010 [Tank Storage Magazine] - South China Petroleum Company will double capacity at its West Zhuhai Oil Products Terminal following approval from the board on the joint venture, of which Fortune Oil owns 37%. Read More>>
April 7, 2010 (ICIS news) - Stolt-Nielsen on Wednesday posted a 28.9% year-on-year rise in first-quarter net profits to $18.7m (€13.8m), saying it had recovered from a depressed performance during the same period in 2009 but was still facing challenging market conditions.
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April 7, 2010 [Bunkerworld] - Work on Singapore's underground oil storage rock caverns on Jurong Island has been delayed due to technical issues previously not taken into account, sources close to the project told Bunkerworld. Read More>>
April 4, 2010 [Ultrapar/TankTerminals.com] - Ultrapar Participações S.A., through Ultracargo, has acquired from Puma Storage do
Brasil Ltda. a storage terminal for liquid bulk with a capacity of 83 thousand cubic meters located at the port of Suape, in the state of Pernambuco.
Ultrapar had published a press release with this announcement already in December last year.
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April 01 2010 [Malaysia Star] - KIC Oil and Gas Group, the largest private operator of oil terminals in the country, will establish a shipping trust via a consortium to acquire 22 vessels valued at US$200mil within the next three years.
The acquisition is to support its oil terminal operations at Westports, Port Klang and another hub under construction, the Asia Petroleum Hub (APH) located offshore of Iskandar Malaysia.
KIC inked a memorandum of agreement (MOA) with Thailand’s Nathalin Group in collaboration with PTT Public Co Ltd yesterday to kickstart the consortium initiative Read More>>
April 01 2010 - [Dow Jones]- Singapore began construction of its first liquefied natural gas import terminal Wednesday, which will help diversify the city-state's energy portfolio and drive regional trade of the cleaner-burning fuel, said a senior minister.
Government officials say global LNG players are acknowledging Singapore's geographical advantage as a possible catalyst to make it a regional trading hub for LNG. In recent months, Russia's Gazprom (GAZP.RS) has opened a Singapore office to oversee its LNG trade operations in the region, while ConocoPhillips (COP) has decided to relocate its global LNG headquarters to Singapore from Houston.
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April 1, 2010 [Opis] - Cushing storage terminal company Blueknight Energy Partners revealed on Wednesday some ongoing debt and capital concerns continue to plague the company. Read More>>
April 1, 2010 [Opis] - The U.S. Northeast products storage tank market continues to command a robust price premium due to a tight supply and a lack of new buildings, terminal industry sources told OPIS on Wednesday.
Hurdles for new tanks in the harbor are long lead times for permits and
high construction costs. Read More>>
March 30, 2010 [SupplyChainDigital] - Service and customer satisfaction remain a priority for Vopak Terminal Durban. However, as its Financial Manager Mark Sessions reveals, the company is also focused on streamlining operations and expansion Read More>>
March 30, 2010 [Het Financieele Dagblad/TankTerminals.com] – According to the Dutch financial newspaper “Het Financieele Dagblad” Vopak acquired a tank terminal from the Puma Group in Brazil. Read More>>
29th March 2010 [Ocean Intelligence] - Some fuel oil trading firms are reported to be cutting their tank storage capacity in Singapore.
"The market has become increasingly congested with players and cargoes," a Singapore-based Western trader told Reuters.
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March 30, 2010 [al.com] - MOBILE, Ala. -- A business that owns oil terminals on Blakeley Island and in Chickasaw has filed for Chapter 11 bankruptcy reorganization, after its business soured and it couldn't repay almost $60 million in construction loans. Read More>>
March 30, 201 [Reuters] - FUELOIL-STORAGE/ASIA (UPDATE 1)
* Some fuel oil players reducing storage capacity
* Operating environment difficult this year due to oversupply
* New players seen taking up storages
Wednesday March 31, 2010 [Reuters] Fuel oil trading firms are reducing leases on storage tank capacity for the first time in at least seven years in an attempt to rein in spiralling costs in a weak market, industry sources said on Monday.
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