Vopak’s drive is its purpose: Storing vital products with care. Our purpose explains our relevance for society at large. Our relevance is determined by what we store: products that meet the basic human needs of a growing population. And how we store these products: with the utmost care.
We fulfill our purpose by being performance driven. We do this by excelling in sustainability, service and efficiency. In this way we contribute to society, every day.
Demand for energy, food and chemicals is growing as populations increase and become more prosperous. As the world’s leading independent tank storage company, we connect supply and demand for these products. To do so, we operate a global network of storage and logistics terminals at strategic locations along major trade routes. We ensure safe, clean and efficient storage and handling of bulk liquid products and gases for our customers.
Storing vital products
Our work enables people to meet basic needs: to cook and heat their homes, go to work and travel the world. We help maintain homes, allow factories to operate and companies to manufacture products that we all use in our daily lives. Our long-term success depends on our ability to innovate and respond to changing demand from both society and the market. Today, we store chemicals, oil, gases, biofuels and edible oils. In the future, we may well store products like hydrogen, electricity and CO2.
While the products in our tanks are crucial to people’s everyday lives and to the economy, they can impact people’s health and the environment if badly stored or handled. It is our role and responsibility to ensure safe, clean and efficient storage. We have a commitment to care, which extends to all our stakeholders, including our colleagues and contractors, our customers and the communities in which we operate.
Vopak operates a global network of terminals worldwide. Through these terminals, we enable delivery of products for the energy, chemicals and food & agriculture industries. Our terminal network supports our customers with delivering products to market. We adapt to constantly changing markets and product flows, resulting from shifts in climate policies, in geopolitics and the development of new energy sources and cleaner fuels. At the same time, we have seen increased digitalization and the introduction of new technologies – these create significant opportunities for our business. To respond effectively to these changes, we need to be flexible – we also need to have a long-term vision not only of the best locations for our terminals, but of the products and infrastructure that society will use in the years ahead.
Vopak's five strategic terminal types
We ensure safe, clean and efficient storage and provide infrastructure services in different value chains for chemicals, oil, gases, biofuels and vegoils in three end markets: energy, manufacturing and food & agriculture. We serve countless people and communities around the world as end-user of these different value chains. These value chains span from production of feedstock to end-user distribution. Our terminal infrastructure plays a key role in connecting our customers’ products to their markets.
New energy & feedstocks
Vopak actively pursues opportunities in new energies and sustainable feedstocks. We aim to develop infrastructure solutions for the world’s changing energy and feedstock systems. Our strategy for new energies is to facilitate new supply chains for hydrogen, CO2 and new feedstocks, as well as develop flow batteries. Vopak has made first investments in hydrogen and is exploring further opportunities in Europe and beyond. In Asia, we are exploring the potential of low-carbon ammonia and flow batteries.
Vopak is expanding its gas storage – in response to increased demand, partly from petrochemicals and plastics production, but also from gas-fired power plants and transport. We are introducing new infrastructure for cleaner fuels like LPG and LNG. In doing so, Vopak is contributing to the energy transition. We own and operate LPG terminals in the Netherlands, China and Singapore; we have LNG facilities in Mexico, the Netherlands, Pakistan and Colombia.
Petrochemical clusters are becoming larger and more complex, making logistics integration even more crucial. Industrial terminals have a single operator, typically serving multiple plants at the same time. This makes optimizing terminal logistics easier. Many petrochemical clusters adopt this model because of the size and complexity of their operations. Industrial terminals typically have long-term customer contracts – since terminals are integrated into the customer’s facility. We operate industrial terminals in the US, Europe, Middle East, Asia and China.
Demand for chemicals storage is growing. Vopak has a strong presence in key hub locations, including Antwerp, Rotterdam, Singapore and Houston. We operate a global chemicals distribution network. Besides growth opportunities, we are also looking at ways of operating our terminals more efficiently and strengthening customer service.
Vopak operates oil hub terminals located strategically along major shipping routes, where suppliers, customers and traders are active. These include Rotterdam, Fujairah and the Singapore Strait. We also play an important role in ensuring countries with structural oil supply deficits have adequate access to energy imports
The products we store
As an independent service provider, we do not own the products that we store for our customers. Neither do we determine what types of products are in use. At the same time, we strive to be a responsible member of the communities in which we operate. We adhere to permits, national and international regulations as a minimum and commit to safe, clean and effective storage. We also explore ways to facilitate the introduction of more sustainable technologies, processes and products.
We store and handle a variety of liquid products.These include: Chemicals (methanol, xylene, styrene, MEG1), Gas (LNG, LPG, ethylene, butadiene), Oil products (crude oil, fuel oil, diesel, jet fuel, gasoline, naphtha), Vegoils and biofuels.
The products we handle are used by energy, industrial and manufacturing companies in their supply chains. These products are key inputs for chemicals and plastics for food and manufacturing – and for the energy and transport sectors. Our customers are producers, manufacturers, distributors, governments and traders. They include leading international, regional and national chemical, oil and gas companies.
Vopak’s terminals connect directly with national grids and distribution networks. In many cases, we handle feedstock (products used in industrial processes); in others, products go directly to end-users. Vopak provides common storage and logistics services to customers. Our customers benefit from economies of scale; they do not have the direct cost of owning and maintaining storage tanks, jetties, pipelines and other infrastructure. We help our customers optimize processes and operate more efficiently, saving time and money. Nearly 80% of our revenue comes from storage fees paid by customers. Vopak’s ambition is to be a strong link in customers’ supply chains. Much of our business is long term: typically, contracts for gas last 5-20 years. Chemicals and oil tend to be shorter term, with contracts of 0-5 years.
We always try to meet our customers’ needs and expectations, enabling them to reach their present and future goals and ambitions. Customer loyalty is of the utmost importance for us while maintaining a healthy profit.
Our suppliers vary from global qualified vendors, used for equipment and IT automation, to local service and construction suppliers. We aim for long-term partnerships and ensure continuous improvement on quality, efficiency and safety. In line with our Sustainability Policy and Vopak’s Code of Conduct, we require our suppliers, contractors and their sub-tier suppliers and contractors to adhere to our Supplier Code.
Vopak has assessed the exposure of its suppliers to any material first-order physical climate change impacts. Our industry is supplied by many different vendors, based in many different locations with limited first order physical climate change impacts. As we are not dependent on large individual vendors or suppliers, switching between vendors and suppliers is within our industry relatively easy.