New contracts in Oman and China are set to boost lubes terminals in the Middle East and Asia.
Oiltanking's Port of Sohar facility Image: Oiltanking |
In Oman, Shell Oman Marketing has signed a 10-year deal with Oiltanking Odfjell Terminals (OOT) to handle the annual 60m litre lubes output from its Mina Al Fahal blending plant.
OOT's storage facilities, in the Omani Port of Sohar, has a current capacity of some 1.2m3 with facilities and infrastructure to store and handle petroleum, chemical and gas products and is claimed, by OOT, to be the most diversified terminal in the region. The new contract will see OOT expand the facilities to handle the Shell output, as well as creating additional chemcial storage areas.
Meanwhile in China, Sinopec Kantons Holdings has purchased Five Crude Oil Terminal Operators, know as Five Joint Ventures, from their mutual parent company, Sinopec. The deal is set to create the largest crude oil terminal operation in China and one of the largest of its kind in Asia. The acquisition will take Sinopec Kantons Holdings' annual crude oil capacity to around 225m tonnes through a total of seven companies.
In terms of shipping capacity, the deal will increase Sinopec Kantons' available berths from 14 to 24, nine of them suitable for VLCC ships, making it the primary crude terminal operator in China with infrastructure in the East, North and South of the country.