Singapore market dips on capacity rise
A sharp increase in independent storage capacity has taken some of the fizz from the Singapore business, but logistical demand has been strong so far
THE SINGAPORE oil-storage business has just seen its largest increase in capacity since the independent terminals were set up in the early 1980s. In the past year, two new terminals have opened their tanks, bringing operators Chemoil and Hin Leong to a business dominated by long-established Vopak, Oiltanking and Kuo. Another new entrant, Horizon Singapore Terminals (HST), opened its terminal in 2006. The two start-ups, together with expansions at existing terminals, have raised the country's independent storage capacity for petroleum by 71% – from 4.730m cubic metres (cm) a year ago to 8.088m cm now. The figures exclude floating storage in moored tankers and the independent use of the oil co
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
