Further globalisation of the oil market requires a worldwide Vopak network offering a high degree of added value. In this context, the use of the Vopak brand name representing safety and recognisable high-quality services is an important tool for customer relationship management. There is a risk that actions by existing competitors or newcomers to the market adversely affect Vopak’s long-term or short-term market and financial positions. Competitive risk is reduced by our attention to an outstanding level of service for our customers and by concluding long-term contracts covering services, service  levels  and  prices.  Prices  can  remain  competitive through innovative and effective cost management and projects to review and benchmark the operational efficiency of terminals. Processes and information systems are increasingly being standardised, professionalised and optimised to ensure customer satisfaction into the future. In addition, a global customer satisfaction survey will be carried out in 2008.

Long-term contracts with production and oil distribution companies reduce the dependency of storage on speculative product  trading  and  reinforce  the  relationship  with  our  customers. However responding to favourable local market conditions with short-term contracts can produce a good reward in terms of higher returns on the  entrepreneurial activities of Vopak.