Singapore: two new terminals
By the end of March, two new independent storage terminals will have opened their pipes and the Singapore business will have two new operators. Some say the rise in capacity is bound to depress the market – but take-up indicates that the demand is there
This month, Hong Kong-based Chemoil expects to bring its new Helios terminal, on Jurong island, into full operation, providing 448,000 cubic metres (cm) of capacity for fuel oil and middle distillates. By the end of March, Singapore-based Hin Leong should have its new Universal terminal, also on Jurong, in full commercial operation with a capacity of 2.3m cm. The two new facilities will increase Singapore's independent storage capacity by 58%, from 4.730m cm to 7.477m cm (excluding chemicals terminals and floating facilities). The rise comes on top of a 12% increase during 2007 and a 46% increase during 2006 – when Horizon Singapore Terminals (HST) became Singapore's fourth operator of indep
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