Asia/Pacific News
Singapore: Vopak Investing for a Multi-fuel Future
Dutch tank storage company Vopak to is to expand and improve its Singapore storage and bunkering facilities to meet changing patterns of oil demand.
The company is to expand its Sebarok terminal by 67,000 cubic meters to deal with the expected increase in distillate demand from the start of 2020. The move will strengten the company's position "as the bunker hub of choice wih flexibility of handling multiple fuels", the company said in a statement.
In addition, Vopak has set up a "new and safe, concurrent bunkering service at its Sebarok terminal" which allows ships to bunker while working cargo at the terminal.
Other improvements include a liquified petroleum gas import and distribution facility at Banyan terminal, "upgrading existing infrastructure" and making more out of automation at various terminals to boost thoughput and better handle and blend different fuels types, the company added.
From the start of January 2020, the global sulfur cap on marine fuels falls to 0.5%, a move which is widely expected to disrupt established patterns of bunker demand.
