GLOBAL TANK STORAGE MARKET
The global tank storage market is becoming more and more transparent as terminal operators are more keen on sharing their available storage capacity, a year ago we listed up to 80 tank storage opportunities worldwide whereas this week’s list comprises of more than 215 opportunities. The current market situation, in a “backwardation” market, future prices are expected to be lower than the current price and therefore there is less need to store products for trading purposes, is obviously one of the reasons that the terminal operators are more transparent. On the other hand the benefit of mentioning the availability seems to be key in closing new and evenly important, competitive deals.
SINGAPORE MARKET
Over the last 10 years the Greater Singapore region has nearly tripled the commercial available tank storage capacity.
2007: 6.600.000 M³
2011: 11.300.000 M³
2017: 17.500.000 M³ (165%!)
Up to 2020 there are several projects being constructed and/or planned which will lead to another 5.012.000 M³ (29%) of capacity growth.
In terms of available capacity, the outside skirts of the Greater Singaporean region show availability for fuel oil and gasoil storage. The terminal facilities on the Jurong Island seem to be booked at least till the end of this year although there are opportunities for fuel oil storage, sub leasing and minor opportunities for spot business.
The current stock levels for distillates in Singapore are; Light (2.4 MM³), Middle(2.2 MM³) and Heavy(3.8 MM³) a total of 8.4 MM³ related to a total storage capacity of approx. 11 MM³ for distillates.
From Sunday 24 September - Thursday 28 September RVB Tank Storage Solutions will attend the APPEC and Tank Storage Asia, if you are interested in a personal meeting do not hesitate to contact us. We look forward to meeting you there.
INDIA MARKET
In India there are more than 350 tank terminal facilities of which the majority (250) are owned by the Indian oil companies. India is the third biggest country in the world in terms of crude oil import and number four in the world with exporting petroleum products. This shows that India is heavily dependent on the tank storage industry.
Even though the tank storage industry is more or less owned by the Indian oil companies there are signs that it will shift towards the commercial tank storage industry. An interesting market to watch out for in the coming years.
The current market situation in India show quite some availability mainly in the North Western part of India (Gujarat).
CHINA MARKET
On August 9, Sime Darby (Malaysia) and Dragon Crown (Hong Kong) formally hold a grand opening ceremony of their JV (50/50) terminal at Weifang, Shandong at Bohai Bay. The terminal has a total capacity of 420,000 cbm for both chemical and oil products and two jetties of 30 k DWT each. Two more phases are under construction to bring the capacity to 660,000 cbm in total. The terminal is conveniently located at the center of an area where most independent refineries of Shandong province are located, first of its kind with full-fledged services on large scale.
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