Asia/Pacific News
VTTI Terminal will Finish Second Phase in 2015
Vitol Tank Terminals International (VTTI) will complete the second phase of the ATT Tanjung Bin (ATB) oil terminal in Johor, Malaysia in the first quarter of 2015, Platts reports.
The phase will add 250,000 cubic meters (cu m) of storage capacity plus a new berth for Aframax tankers and will bring the terminal's total capacity to about 1.14 million cu m.
"[There will be] one additional Aframax berth, which can alternatively be used to berth two smaller ships," a company source told Platts.
"The expansion phase shall be interconnected with the existing Phase 1 capacity and have access to the existing five jetties."
The new berth will receive oil products from an additional 10 storage tanks, with the number of clean and dirty tanks dependent on tenants' requirements.
The completion of the second phase was initially planned for the third quarter of 2013, but Platts reported in January that it had been delayed to mid-2014, with the reason for the delay unclear.
The first phase of the ATB terminal opened in April, in what VTTI called a milestone for a terminal that would offer "petroleum products in the Singapore region at competitive rates."
Malaysia has been working to compete with Singapore, announcing an "aggressive" incentive plan to lure oil companies last year.
VTTI is a 50-50 joint venture between Vitol Group and Berhad of Malaysia.
