Singapore embraces IMO 2020 and more sustainable future
THE PORT of Singapore is a major global hub port, connected to 600 ports in more than 120 countries. At any one time, there are over 1,000 ships at the port and more than 130,000 ships visit annually. It is also the world’s largest bunkering port by volume, with more than 47 million tonnes of fuel sold in 2019. On 1 January 2020, new regulations from the International Maritime Organization (IMO) on the amount of sulphur permitted in fuel oil used on board ships came into force. Under the IMO 2020 standard, fuel cannot contain more than 0.50% sulphur. To […]
How to improve diversity & inclusion within the tank storage sector – register for the upcoming webinar
Some of the most successful organisations in the world are made up of the most diverse teams. This webinar features Ollie Folayan, Chair of the Association for BME Engineers, who will provide an update on why Diversity and Inclusion is so important & strategies that can be implemented within the tank storage sector. Folayan has been involved with a number of successful community initiatives through organizations such as Shell and the Royal Academy of Engineering. He is a member of the All Energy Diversity and Inclusion task group setup in 2019 by Oil and Gas UK. Following his presentation, you will […]
Expanding in the Nordics and beyond, sustainably
Wibax CEO Jonas Wiklund explains the company’s acquisition of Baltic Tank and looks to the future of the business. Swedish chemical supplier and trader Wibax grabbed headlines recently when it bought Baltic Tank, a chemical terminals operator in neighbouring Finland. Prior to the acquisition of Baltic Tank, Wibax already had nine terminals in Sweden and another in Finland, with a total storage capacity of 450,000 m3, and offices in Sweden, Norway and Finland. Its main storage products include tall oil, pitch, mixed fatty acids, and chemicals, of which the two major products are caustic soda and sulphuric acid. In recent […]
Security and safety regulations – what terminal operators need to know
Peter Lidiak, vice president of regulatory affairs, International Liquid Terminals Association (ILTA), looks at the latest US standards. Peter Lidiak, Peter Lidiak, ILTA vice president of regulatory affairs Security and safety are two core values of bulk liquid terminal operators. As part of the critical infrastructure community, bulk liquid terminals must pay close attention to the safety of not only their workers and contractors but also the communities in which they operate. And because bulk liquid terminals serve as a hub for all modes of surface transportation, including pipelines, rail, ships, barges and trucks, they must be secure to safeguard […]
How COVID-19 & the plummeting oil price has impacted the global storage market
In the second of the new professional webinar series, held on 18th June 2020, Tank Storage Magazine spoke to three experts to find out how the global oil storage market has been affected by the current COVID-19 pandemic and what might happen next. The webinar, entitled ‘How COVID-19 & the plummeting oil price has impacted the global storage market’, was moderated by Patrick Kulsen, Managing Director of economics forecasting organisation Global Insight. THE OIL INDUSTRY POST COVID-19 Charles Daly, Chairman of Channoil Consulting, gave the first talk of the webinar, on what the oil industry might look like once the […]
Innovation encore
There was a lot to see in the iTanks Innovation Zone at this year’s StocExpo Rotterdam in March. Together with a group of partners from the iTanks network, the zone was packed with novelties for the tank storage industry. For those who could not come to the innovation zone, here is a recap of what you missed: iTANKS is a knowledge and innovation platform for the portrelated industry, an industry with a high innovation potential. The platform connects companies, knowledge institutes and industry experts with each other and introduces these parties with new technology and the latest innovations from within […]
Integrating design, safety and construction
How to reduce construction accidents by implementing better safety measures during the design and planning phase. THE CONSTRUCTION industry faces two challenges that are usually considered separately: the lack of specifics, synergy, and effectiveness, between the safety planning and construction process; and the lack of concurrence between the design and construction process. This article integrates constructability and safety planning in a unique and simultaneous procedure. This is obtained by analysing construction details by means of building information modelling (BIM) that express and simulate the breakdown of project phases, chronologically processed and logically related. In these modellings, all the elements of […]
Managing your aluminium dome asset
In today’s world of uncertainty, it becomes very important to maintain and manage current assets. Geodesic aluminum domes are an investment within our oil and gas industry that protects the product in the storage tank and has a service life of 50 plus years with some maintenance along the way. WHAT is a geodesic dome? A geodesic dome is a site specific, structurally engineered dome roof composed from an integrated aluminum system of interlocking panels, extruded struts, gusset plates, batten bars and hubs. Why do I want a geodesic dome? One major reason is to seal the tank from the […]
Tank bottom life, risk-based inspection and corrosion
What it takes to implement corrosion prediction of tank bottoms. INDUSTRY tank standards set limits on how long flat bottom tanks may be operated before being internally inspected [sidebar 1] based on tank bottom corrosion rates. But many companies are not collecting sufficient data or even the right kinds of data that would actually save them significant costs or even provide them with good optimal operating intervals. Moreover, without appropriate data collection, tank bottom life estimating methods such as ‘similar service’, ‘risk-based inspection’, and statistical methods cannot be properly used. The purpose of this paper is to deliver the following […]
Hurricane preparedness plans for storage terminals
WITH hurricane season approaching, now is the time to develop a hurricane preparedness plan (HPP) to ensure the durability and functionality of exposed storage tank terminals. Developed by engineers, HPPs set forth specific action items designed to help storage tanks withstand the impacts of varying categories of hurricanes. Heavy rainfall and inland flooding, tornadoes, storm surge, tidal changes, and high winds can contribute to the failure of a storage tank. Careful forethought and mitigation can reduce the severity of all damage and adequately protect the integrity of a facility. Sample inundation model REFERENCES FOR AN HPP Various standards and guidance […]
Safety as standard no matter the scenario
COVID-19 has seen a dramatic fall in fuel demand as fewer planes take to the skies and drivers keep their cars off the road. This knock-on effect has meant fuel storage tanks around the world are rapidly reaching capacity and has led to producers scrambling for places to store their excess production. Oil companies have been searching for alternative ways to store crude as traditional storage becomes more expensive and harder to find. One suggested method has been to store fuel in freight trains. However, the director of liquid operations at US-based Colonial Terminals Michael Mashburn, advises producers should proceed […]
Tank Storage Awards: The winners of 2020
This year’s Global Tank Storage Awards was one of the last events before coronavirus restrictions came into force across the globe. Find out more about why this years winners deserved to be recognised for their achievements in safety, sustainability and innovation. DESPITE the challenging circumstances nearly 200 attendees gathered at Rotterdam’s Floating Pavilion on the 10th of March for the fourth edition of the awards ceremony, celebrating excellence within the terminal industry. The evening honoured the sector’s high achievers, recent innovations, emerging technologies, environmental breakthroughs, and leading ports and terminals. Tank Storage Magazine caught up with the winners to share […]
Fuel flows and floating storage: The new normal?
Oil analytics firm Vortexa shares its insights on the rapid expansion of global floating storage across the oil complex, and how oil flows are being reshaped in unexpected ways in the wake of the COVID-19 pandemic. GLOBAL markets in the first half of 2020 are oversupplied with oil products at levels not previously experienced by the industry. Transportation restrictions have forced refiners to reduce output, to adjust product yields and bring forward maintenance. The net result is a glut of historic proportions that has accumulated in onshore and offshore storage for both crude and refined oil products. In this low […]
Tank Shortage 2020
With dramatic demand drops amid worldwide COVID-19 quarantines, everyone’s talking about storage. Paul Wiseman takes a close look at the impact it’s having on the US market. USUALLY the rest of the world, including the oil and gas upstream sector, takes tank storage for granted. It is just a stop for petroleum and refined products on the way to buses, cars or boats. But with COVID-19 quarantines slashing global energy demand by as much as 30%, even the historic production cut agreement with OPEC+, combined with significant capex cuts by non-OPEC producers, still leaves much more production than the market […]
Flexibility is the key to growth
With the pressure on for more storage capacity around the world, Moda Midstream has space to expand. However, as its CEO Bo McCall reveals, growth plans must be flexible as well as prudent. LIQUID terminal provider Moda Midstream completed its 10 millionbarrel crude oil expansion in April, adding 495,000-barrels of tankage at its facility at Moda Ingleside Energy Center (MIEC) in Texas, USA. The company was able to bring this project around six months ahead of schedule, at a time when storage capacity is in high demand. The company is now working on a further 3.5 million barrel construction and […]
Microbial contamination in biodiesel storage tanks
As a result of heightened regulatory measures to decrease greenhouse gas emissions and reduce reliance on fossil fuels, the composition of the fuels used has changed dramatically in recent years. When these biofuels come into contact with water, microbial contamination can occur in the tank. MICROBIAL CONTAMINATION Traditionally when straight hydrocarbon fuels were used, you could have a tank that was 50 years old and never been cleaned out, and as long as that suction point – the point where the fuel leaves the tank – was above where the water and sludge was sitting, there would be no issues […]
The bright light amidst today’s energy uncertainty
COVID-19’s impact on the infrastructure market has been widely publicised. Some assets, formerly viewed as safe investments, have faced unexpected and unprecedented challenges. But amidst this challenging environment, one particular asset class has begun to thrive – liquid storage. Storage terminals worldwide have benefited from the supply/demand imbalance as a direct consequence of the global pandemic. Stable assets at a ‘stand-still’ It’s clear that traditionally ‘safe’ investments are experiencing difficulties. European airports, for example, are now either full or largely closed, causing their conservative pension fund or insurance company investors sleepless nights – with prolonged airport closures not a downside […]
External hazard effects on steel and concrete refrigerated liquefied gas tanks
The selection of a refrigerated liquefied gas (RLG) storage system concept is often based on the ability of the tank system to contain leaks from the primary containment and to limit potential effects on the environment and surrounding properties. The storage tank system and tank material selection are based on both safety and economics considerations to provide a safe storage solution for both the owner and public while being economically feasible. External hazards play a significant role in the selection of the tank containment system and materials of construction. The various external hazards which can affect a tank system and […]
COVID-19 pandemic: cyber security lessons learned
The COVID-19 pandemic has shown us that we need to be prepared to handle extraordinary situations that impact our business when measures to combat the spread of the COVID-19 were put in place by governments worldwide. These measures have had, and continue to have, a major impact in the way that we conduct business and operate our facilities. Organizations often had to fall back on business continuity plans in order to cope with the situation. On top of this, there is an increased threat from cyber-attacks that exploit this extraordinary situation. People For most tank terminal organisations, there will be […]
Serving Pakistan’s energy needs
With more than half of Pakistan’s total oil product demand being met through imports, fuel marketer and retailer Gas & Oil Pakistan sees tremendous opportunity in serving the markets supply chain GAS & Oil Pakistan (GO) is positioning itself to capitalise on the country’s flourishing market dynamics with plans to substantially increase its storage terminal network to meet the growing demand for oil products. The company, headquartered in Lahore, currently has four owned and operated depots and two storage terminals. Its most strategically important terminal was commissioned in the fourth quarter of 2018. Built on 15.5 acres of land close […]
Storage market shocked into new fundamentals
Cyril Widdershoven, Middle East & geopolitical expert & global head strategy & risk at Berry Commodities Fund, shares his thoughts on some of the biggest market disruptions and uncertainties to happen in a generation and why future opportunities for the industry still exist After years of being a statistical factor in oil market developments, looking at the OPEC+ and US shale oil confrontation, driven by stable growing demand and reoccurring supply issues, the fundamentals of the total constellation have changed dramatically. The year 2020 has started with a bang, not only for the global economy, commodities and trade, but […]
Towards tank tops
The one thing storage operators needn’t worry about for the rest of the year, is whether or not their tanks will be filled THE OIL market is currently deep in uncharted territory having to deal simultaneously with a supply shock from the abrupt termination of the OPEC+ production cut agreement and a demand shock from the coronavirus (COVID-19) pandemic. The market has demonstrated before, that it can deal with either shock by itself. The great financial crisis of 2008/2009 was solved by a combination of stimulus spending and OPEC cuts, while the decision of OPEC to cut production in November […]
A time for change
There is no denying that the world is changing and continues to change at a staggering pace. If it wasn’t clear enough at the beginning of the year, then it has been brought even more sharply into focus in recent weeks with the global political, social and economic response to the COVID-19 pandemic IN THESE turbulent and uncertain times storage terminals stand tall and strong, acting as a vital conduit for energy flows to keep countries and economies moving. In these fastchanging new market dynamics, the adaptability of storage terminals to new forms of energy and new supply and demand […]
Indonesia back in the oil & gas race
LIKE the kid who does not how to give up after losing a race, Indonesia is back at the oil and gas production race. In a recently published news report on March 4, the government’s Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) said that two developments last year ‘added optimism’ to Indonesia’s goal of becoming a leading gas producer. He was referring to the resumption of a stalled gas project at the offshore Masela Block and the discovery of a giant gas reserve at the Sakakemang Block in South Sumatra. But as reality always is in the […]
Unlocking market potential with storage assets
With predictions that a more varied mix of energy will be needed in the near future, GP Global is unlocking new market potential by developing storage infrastructure for a diverse portfolio of product lines The energy conglomerate, which operates in oil and gas trading, bunkering, lubricants, bitumen, aviation fueling and shipping & logistics, currently has three storage terminals strategically positioned in key demand centres including the UAE and India. To complement its increasingly diverse portfolio of energy assets, its storage division is perfectly located in key trading hubs to capitalise on existing and emerging market dynamics. And with a radically […]
The death and transformation of fuel oil
The global fuel oil market is still adapting to the momentous changes forced upon it by the IMO 2020 spec change. JBC ENERGY expects1, as it did in 2017, that fuel oil will remain the primary bunker fuel at least throughout the new decade. That said, the two million b/d shift from high sulphur fuel oil (HSFO) to 0.5% very low sulphur fuel oil (VLSFO) completed in recent weeks has irreversibly fragmented the fuel oil market. This fragmentation is transforming business dynamics by ushering in a new three tier fuel oil market consisting of VLSFO, High Sulphur Straight Run fuel […]
US energy production transforms global trade
Before January ended, two major events struck the oil market that speak volumes in how global trade has been transformed by US energy production PRICE risk in 2020 is now skewed to the downside as global economic growth and oil demand are under pressure from an outbreak of coronavirus. Oil futures surged in reaction to the US targeted killing of Iranian General Qasem Soleimani on January 2 but sold off less than a week later as Iran took steps to avoid war with the US, quickly unwinding an escalated geopolitical risk premium in global oil prices. Ten years earlier, global […]
Balancing the oil market between traditional and new regulatory political risk
ANALYSIS of markets, energy markets no less than others, often begins with a look at the fundamentals. In energy markets these analyses tend to change, move and require constant updating. International politics, on the other hand, while widely regarded as chronically fickle, have rarely required a deeper analysis of its fundamentals. The fundamentals of the global economy and politics have, for many decades, proved to be fairly stable. Yet for several years it has become widely appreciated that global politics are becoming increasingly unstable and that the values and conventions steering international relations in the past decades are under pressure. […]
A new energies era
As new forms of energy continue to thrive and grow on the back of the global energy transition, storage giant Vopak explains how its adaptive and flexible approach ensures it remains relevant in this new energy era THE EMERGENCE of new energies on the back of the growing momentum behind the energy transition is creating opportunities for storage operators to play a key role in carving out new supply chains. The popularity of more environmentally friendly and carbon neutral forms of energy such as hydrogen, solar and electricity is driving demand for logistical infrastructure to supply these new value chains. […]
Preparing for a decade of change
AS the sector enters a new decade, Channoil Consulting’s Chris Reveliotis, examines some of the key challenges facing the storage sector including shifting global trade patterns and the electrification of transport STORAGE in the oil business is about more than just warehousing and logistics. The oil storage industry, and in particular the European one, is more dynamic and different because it intrinsically includes the operations of blending new products and trading them (both locally and internationally). The oil storage industry performs a hybrid role encompassing both traditional logistics and manufacturing functions. Seen in this dual role (manufacturing/trading hubs and logistics […]
Fuelling the future
An innovative new carrier technology that makes hydrogen easier and safer to store, transport & distribute is the first step in facilitating global hydrogen supply to industrial energy sectors The role of renewable energies in reducing the environmental burden of global energy emissions has resulted in an increase in innovative technologies to unlock their full potential. The growth of hydrogen as a fuel, which today is around 60 million tonnes, is testament to the growing global interest in pursuing decarbonised forms of energy. When consumed in a fuel cell hydrogen only produces water and it can be produced from natural […]
An energy storage frontrunner
Following First State Investment’s acquisition of Vopak’s former Amsterdam terminal, Evos Amsterdam is well-positioned to become a frontrunner in current and new forms of energy storage & distribution The Evos Amsterdam terminal has significant potential to be one of the storage leaders in the global energy transition as well as cementing its position in the clean petroleum products market following its acquisition by First State Investment. First State, the international arm of First Sentier Investors, bought Vopak’s terminals in Amsterdam and Hamburg for €600 million and rebranded them to Evos having identified the synergies both facilities have with the company’s […]
