EMEA News
BTC Terminal in €1.2 million Fuel Oil Optimisation Project
Baltic Oil Terminals plc (BTC) has announced plans to raise £0.95 million (€1.2 million / US $1.49 million) to advance their Fuel Oil Optimisation project at the Dan-Balt Terminal A/S facility in Aabenraa, Denmark (the Terminal).
The project is expected to be completed by the end of 2012 and BTC said it will not impact on current capacity or disrupt existing operations.
Optimisation will involve revamping pumping and hydraulic configurations at the Terminal with new pumps to increase flow, and increase “throughput of the Terminal.”
German firm Leistritz Pumpen GmbH will manufacture and supply “modern and efficient screw pumps” to replace existing centrifugal pumps.
The Aabenraa-based terminal has a storage capacity of 160,000m3 and is strategically located close to BTC’s existing ports in the Baltic regions as well as Amsterdam, Rotterdam and Antwerp (ARA), the Keil Canal (Germany) and Gasoil’s distribution business.
BTC bought the terminal (formerly Haahr Tank-Lager A/S) for US $9.9 million in November 2011, and CEO Simon L. Escott said at the time, it offered "tremendous opportunities for our customers and ourselves."
He said in BTC's November 2011 Press Release they expected the acquisition to "stimulate a substantial increase in throughput at the terminal and therefore increased cashflow and profitability."
BTC want to use the terminal, which has two berths for both discharging and loading simultaneously, for transhipment of fuel oil and diesel, rather than storage.
This would bring the Dan-Balt Terminal inline with existing operations in Kaliningrad and Rotterdam.
BTC said the company wants to expand operations across Europe to diversify the group from a reliance on operations in the Former Soviet Union (FSU) and “to enhance flexibility and transhipment options for its growing client base.”
