Vopak Reports EUR 294.4 Million 2022 Profit, Pledges Further Green Transformation

by Ship & Bunker News Team
Wednesday February 15, 2023

Netherlands-based storage company Vopak has promised further transformation in the coming years to align with the decarbonisation agenda, as the firm reported a small dip in annual profits last year.

The firm reported an annual profit excluding exceptional items of EUR 294.4 million for 2022 in an earnings release on Wednesday, down by 1.3% on the year. The company's proportional occupancy rate was unchanged on the year at 88%.

Vopak is planning further transformation of its storage facilities in the coming years as it seeks to serve the new requirements of the energy transition.

This process has already been affecting the bunker industry, with Minerva Bunkering exiting its Los Angeles physical supply operation last month after Vopak decided to repurpose some of its storage to hold sustainable aviation fuel and biodiesel.

"Vopak will be a different company in 2030," CEO Dick Richelle said in the statement.

"Society will need new, sustainable products that we will handle.

"We will forge new partnerships and transform our company gradually but decisively, leveraging our strengths and capabilities.

"We will contribute to a low-carbon future by providing infrastructure solutions for new energies and sustainable feedstocks, by helping leading customers decarbonize, and by reducing our own environmental and carbon footprint."

Ship & Bunker News Team
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