Today, Royal Vopak announces that its fourth terminal in Singapore has been officially opened by Mr Lim Hng Kiang, Minister of Trade and Industry of Singapore. With completion of the first phase of the Vopak Singapore - Banyan Terminal the company adds 370,000 cbm capacity to its network. Strategically located, on the crossroads of fast growing geographies like China and South East Asia and rapidly expanding production centres in the Middle East, the Banyan terminal will meet the need for storage facilities in this region of both the oil and chemical trade.
The new terminal is located at Banyan Avenue, Jurong Island. Facilities comprise 340,000 cbm of oil storage capacity in 16 tanks and 30,000 cbm chemicals storage capacity in 10 tanks. The two jetties are capable of berthing up to 120,000 dwt vessels.
From the start of operations, the capacity of its chemicals and oil tanks of the new Banyan terminal has been fully contracted out to its customers for which Vopak offers market driven solutions. The Banyan terminal is an important stepping stone in Vopak’s growth strategy.
Vopak now operates four terminals with a total capacity of 1.9 million cbm through its subsidiary Vopak Terminals Singapore, the first of which started operations in 1982.
Vopak Terminals Singapore Pte Ltd is 69.5% owned by Royal Vopak (head-quartered in Rotterdam, the Netherlands) and 30.5% owned by PSA Corporation. In addition to the new Banyan Terminal, the company operates three other storage terminals for oil and chemicals in Singapore - namely at Sebarok, Sakra and Penjuru. The four terminals now offer a total storage capacity of 1.9 million cubic metres. Royal Vopak (Vopak) is the world’s largest independent tank terminal operator specialising in the storage and handling of liquid and gaseous chemical and oil products. On request, Vopak can provide complementary logistics services for customers at its terminals. Vopak operates 74 terminals with a storage capacity of more than 20 million cbm in 29 countries, of which 3.5 million cbm in 17 terminals by the Vopak Asia division. The terminals are strategically located for users and the major shipping routes. The majority of its customers are companies operating in the chemical and oil industries, for which Vopak stores a large variety of products destined for a wide range of industries.