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At the tank terminals operated by Vopak, a wide variety of liquid bulk products are stored. Those products are classified in four groups: oil products, chemicals and LPG, biofuels and vegetable oils, and LNG. We also offer additional handling services at our terminals. Examples of these are blending two products, mixing additives into a product, applying a nitrogen blanket on top of a product to push out oxygen, heating or cooling products and loading or unloading ships, railcars and trucks. At many locations, we can also assist our customers with customs formalities and documentation.

In general, one customer rents one tank for one product during the contract period. However, we also apply co-mingled tank storage, where multiple customers use similar capacity for a product, provided that the product specification is equal and customers agree on this optimization mechanism. When properly cleaned when changing products, some tanks can be used for multiple products which provide flexibility in storage capacity. The wide variety of liquid bulk products that we can store attracts customers that produce or trade more than one type of product.

Oil storage
Oil products (such as crude oil, gasoline, naphtha, diesel and fuel oil) are mainly stored in large-size tanks.

Chemical storage
Chemical products (such as methanol, xylene, MEG and styrene) are typically stored in smaller tank sizes. Chemical products often require specific storage conditions such as controlled temperature conditions or atmospheres. LPG is a highly flammable product and is stored in refrigerated tanks at about minus 40°C or in bullets under high pressure.

Biofuels and vegetable oils storage
Biofuels and vegetable oils: bio-ethanol is often stored in the same size tanks as chemicals and requires similar specific tank storage conditions. Bio-diesel and vegetable oils are often stored in the same size tanks with less restricted storage conditions than chemicals.

LNG storage
LNG is stored in specially-designed full containment large tanks and is cooled at atmospheric pressure to about minus 160°C.

Complementary services - Agencies
Vopak Agencies is part of the Vopak Netherlands division. Port agency and hub agency are complementary services, operated from Vopak’s network of offices in Europe and the Far East and contribute to the integrated logistic services the group offers to the oil and chemical industries. Vopak Agencies provides extensive market coverage in all European ports through its own strategically positioned offices and by using offices within the global agency network managed by our Vopak Hub agency colleagues. 0°C.

USGAAP (Topic 842 'Leases') and IFRS 16

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