Industry news


16th October 2017

What drives tank storage demand? Arbitrage

Geographical price differences will lead to increased trade! In this article we would like to highlight the subject arbitrage and what this theme has for impact on the tank storage market.

13th October 2017

Opportunity or disaster? Traders see choppy waters due to shipping sulfur cap

The world's top trading houses, among the most nimble entities in oil, say even they aren't sure how to stay a step ahead of a coming cut in shipping fuel sulfur.

29th September 2017

API: US petroleum demand last month highest for August since 2007

WASHINGTON — Total petroleum deliveries in August moved up by 1.3% from August 2016 to average 20.5 MMpbd, a report by the America Petroleum Institute (API) said. These were the highest August deliveries in 10 yr, since 2007. Compared with July, total domestic petroleum deliveries, a measure of US petroleum demand, decreased 0.6%. For year-to-date, total domestic petroleum deliveries moved up 1.3% compared to the same period last year.

29th September 2017

CGG completes first full-scale TopSeis survey in Barents Sea

PARIS -- CGG has successfully completed acquisition of the first-ever full-scale commercial survey using TopSeis, its latest offshore broadband seismic acquisition and imaging solution.

28th September 2017

Gas pipeline through central Europe to go ahead as planned- Romania

BUCHAREST, Sept 28 (Reuters) - An EU-backed natural gas pipeline to connect Bulgaria, Romania, Hungary and Austria and ease reliance on Russian gas will proceed as planned despite a recent setback, officials said on Thursday.

26th September 2017

Gothenburg Freight Terminal Kicks Off Soon

Swedish Gothenburg port’s move of its intermodal terminal, with both RoRo and rail freight facilities, is proceeding according to plan.

22nd September 2017

Valero & Plains axe California storage terminals acquistion

Valero Energy and Plains All American Pipeline are terminating plans for an acquisition of two petroleum storage terminals in California owned by Plains.

18th September 2017

Kinder Morgan OK to Build B.C. Marine Terminal, Part of Trans Mountain Project

September 18, 2017 [Seeking Alpha] - Kinder Morgan is cleared by Canada's National Energy Board to begin construction on the Burnaby marine terminal- "but nowhere else as of yet"- as part of its Trans Mountain pipelimne expansion project.

15th September 2017

TechnipFMC secures EPCI contract for Lancaster EPS Project, West of Shetland

LONDON, PARIS and HOUSTON- TechnipFMC has been awarded an Engineering, Procurement, Construction and Installation contract from Hurricane Energy.

12th September 2017

OPEC increases global oil demand forecasts on Europe, China

LONDON (Bloomberg) -- OPEC raised estimates for the amount of crude it will need to supply next year amid a stronger outlook for global oil demand.

11th September 2017

France to build up extra 1 TWh of gas stocks ahead of Winter

PARIS (Reuters) — The French government has ordered gas transport operator GRTgaz to build up an extra 1 terrawatt-hour (TWh) of natural gas stocks ahead of winter due to the low level of reserves. 

9th September 2017

EU to reopen biodiesel market to Argentine exporters

BRUSSELS/BUENOS AIRES (Reuters) — Argentina will regain access to the European Union's biodiesel market within three weeks after its successful World Trade Organization challenge to Europe's anti-dumping duties on the fuel.

8th September 2017

Hurricane Irma prompts oil storage, ports shutdowns

Hurricane Irma has prompted the shutdown of at least two oil storage complexes in the Caribbean, with a combined capacity of 18.6 million barrels, S&P Platts reports.

7th September 2017

In sign of oil rebalancing, North Sea floating storage shrinks

LONDON (Reuters) - The volume of global price benchmark North Sea crude being held in floating storage has declined sharply since mid-August, according to shipping data and trade sources, a sign that a long-awaited market rebalancing is gaining momentum.

7th September 2017

Gazprom plans to launch Amur gas processing plant in May 2012

VLADIVOSTOK, Russia (Reuters) — Gazprom, Russia’s biggest gas producer, plans to launch the Amur gas processing plant in the Russian Far East in May 2021, Chief Executive Alexei Miller told the Eastern Economic forum on Thursday.

5th September 2017

EUROPE: Bunker barge strikes MSC containership at Port of Piraeus

The incident, which took place on 23 August, involved the Greek-flagged 6,390 DWT Erato, and the 4,507 TEU MSC Brianna.

4th September 2017

GLOBAL: Wärtsilä clinches technology contract for six 1,160 TEU container feeder vessels

To be built at the Fujian Mawei shipyard in China, the vessels will feature Wärtsilä hybrid scrubbers.

4th September 2017

EUROPE: Skangas to Bunker ESL shipping's LNG-fuelled newbuildings

The Scandinavian gas company has entered into an agreement to supply LNG and liquefied biogas (LBG) bunkers to the shipping company’s pair of gas-powered handysize bulk carriers.

4th September 2017

Sea-Invest is building together with total eight new storage tanks in Antwerp

September 4, 2017 [Gazet van Antwerpen/TankTerminals.com] - Philippe Van de Vyvere, the owner of the fast-growing group Sea-Invest, announced last Thursday the initiation of a large expansion of the tank storage in the Antwerp port. The French chemical giant Total invests in the project.

4th September 2017

Department of Energy proposes new LNG rule

The US small scale LNG export market involves exports of small volumes of natural gas from the US primarily to countries in the Caribbean, Central America, and South America. Many of the countries in these regions do not generate enough natural gas demand to support the economies of scale required to justify large volumes of LNG imports from large scale LNG terminals via conventional LNG tankers. The small scale natural export market has developed as a solution to the practical and economic constraints limiting natural gas exports to these countries.

31st August 2017

As Arkema plant burns, six things we know about petrochemical risks in the wake of Harvey

As Harvey continues to wreak havoc in the Southeast, one issue is starting to emerge as a growing threat to public health and safety: Houston’s vast oil, gas, and chemical production landscape. We’ve already seen accidental releases of chemicals at facilities owned by ExxonMobil, Chevron, and others.

27th August 2017

Lightning from Hurricane Harvey hits oil storage tank near Wildlife Management Area

Lightning from Hurricane Harvey struck a fiberglass crude oil storage tank shortly after 5 a.m. Sunday near Port Arthur, south of Beaumont, next to a sensitive state wildlife park.

19th August 2017

Crude market shows enduring strength beyond seasonal peak

The market for physical barrels of crude from places as far apart as Oman and Colombia is strengthening beyond the traditional seasonal peak in demand, a positive indicator for global benchmark futures prices that remain stuck near $50.

19th August 2017

Global LNG prices rise slightly in quiet trading week

Asian spot LNG prices largely levelled off this week following a strong run of gains over the past month as buyers took a break from replenishing stocks for winter.

19th August 2017

Blockchain Tech Could Disrupt The Oil Industry

As the price of oil remains in the high-$40, low-$50 range, every cog in the oil industry is scrambling to reduce costs and streamline sales.

16th August 2017

Pin Oak Terminals starts operations at Louisiana terminal

Operations have started at Pin Oak Terminals' new multi-product liquid marine terminal in Louisiana.

7th August 2017

EUROPE: Shell wins contract to supply first LNG shipment to Klaipeda NAFTA's new bunkering station

Three companies took part in the international tender to deliver and reload LNG from a small-scale LNG carrier into the facility’s new tanks.

7th August 2017

New Toshiba business focuses on export of US LNG

Toshiba America, Inc. (TAI) publicly announced the formation of Toshiba America LNG Corporation (TAL), a new operating company that will focus on the liquid natural gas (LNG) market.

4th August 2017

Oil loses ground after the best week of 2017

Oil is back down again this week following the year’s biggest rally as investor focus shifted to rising output from the US and OPEC, away from a seasonal increase in American fuel demand.

4th August 2017

US, Canada and Mexico commit to energy trade alliance

The American Petroleum Institute (API), Canadian Association of Petroleum Producers (CAPP) and the Mexican Association of Hydrocarbon Companies (AMEXHI) have outlined their shared policy positions on further strengthening the competitiveness of the North American energy industry under the North American Free Trade Agreement (NAFTA).

1st August 2017

Alkion Terminals and ENI Close the Transaction for a Tank Terminal in Italy

Alkion Terminals (Alkion) today announced the completion of a transaction in which Alkion acquired from ENI the full ownership of a liquid bulk tank terminal based in Vado Ligure, Savona, Italy. Alkion will be the sole owner and operator of Alkion Terminal Vado Ligure.

18th July 2017

Navis Explores Fully Automated Long Beach Terminal

Navis has produced a video focusing on its involvement with Long Beach Container Terminal (LBCT), the first fully-automated container terminal in the US and the cleanest and most environmentally-friendly terminal in the world.

17th July 2017

Enterprise and Navigator Gas to Build Houston Ethylene Export Terminal

Enterprise Products Partners and gas shipowner Navigator Holdings have signed a letter of intent to jointly develop an ethylene export terminal on the Houston Ship Channel to unlock the growing U.S. petrochemical capacity, the two companies announced Tuesday.

17th July 2017

Enterprise and Navigator Gas to Build Houston Ethylene Export Terminal

Enterprise Products Partners and gas shipowner Navigator Holdings have signed a letter of intent to jointly develop an ethylene export terminal on the Houston Ship Channel to unlock the growing U.S. petrochemical capacity, the two companies announced Tuesday.

12th July 2017

European Commission approval for Gasunie, Oiltanking and Vopak to set up Joint Venture to develop LNG Terminal in Northern Germany

Gasunie LNG Holding B.V., Oiltanking GmbH, and Vopak LNG Holding B.V. have acquired the approval under the EU Merger Regulation to establish a joint venture for owning and operating a liquefied natural gas (LNG) terminal in Northern Germany.

10th July 2017

Port of Gothenburg LNG infrastructure from Swedegas

A new LNG bunkering facility is being developed at the Port of Gothenburg by Swedegas. This is the first LNG facility in Gothenburg, the largest port in Scandinavia. It will make it possible for vessels to be bunkered with LNG at the quayside while loading and unloading.

9th July 2017

Robots roll out to help stop oil spills

It’s a dirty job, but somebody’s got to do it. And when it comes to the expensive, claustrophobic and sometimes dangerous work of inspecting natural gas and oil pipelines, that somebody might be a robot.

3rd July 2017

Large imports of U.S. diesel boosted Amsterdam-Rotterdam-Antwerp diesel and gasoil stocks to a six-week high in the week to June 29

Combined gasoil and diesel stocks were up 78,000 tons, or 2.7%, over the week to 2,945,000 tons, PJK said.

The rise in U.S. imports compensated for low imports from the Middle East, while loading restrictions along the Rhine river also served to cap barge movements, the consultancy added.

23rd June 2017

U.S. Diesel Imports to Europe Surge, Latin American Demand Clouds Total

European imports of U.S. diesel are on track to reach their highest monthly level this year so far during July, according to data from OPIS tanker tracking, although increasing demand from Latin America is making it difficult for traders to estimate how much will eventually arrive in the region.

20th June 2017


In response to the growing demand for MDI in the European market and to improve its services and flexibility, Wanhua & BorsodChem announced that they will work together with LBC Rotterdam and rent two new tanks for the Wannate MDI products. The bulk storage facility at the LBC Rotterdam facility is ideally located to serve as Wanhua & BorsodChem’s regional European distribution hub for European customers for Wannate MDI products imported from China.

9th June 2017

Florida Port to Buy $41.4 Million in Cranes

State-managed Everglades Port in the US has received approval to purchase three Shanghai Zhenhua Heavy Industries (ZPMC) container-handling gantries amid larger ship pressures.

7th June 2017

DP World under union microscope

The International Transport Workers’ Federation is to target standards at DP World terminals around the world. 

17th May 2017

Global Chemical Storage Tank market 2017-2022

Global Chemical Storage Tank market Report offers decisive insights into the overall Chemical Storage Tank industry along with the market dimensions and evaluation for the duration 2017 to 2022. The forenamed research study covers extensive analysis of various Chemical Storage Tank industry segments based on the type of applications, type of product Components and services, and different geographical regions.

12th May 2017

Odfjell Terminals Continues Development of US Ethylene Export Terminal

Europe’s appetite for natural gas is leading to a growth “renaissance” as its stores of the fuel languish at the lowest levels since 2013, according to Gazprom PJSC.