Storage Outlook 2026: Odfjell Terminals

Adrian Lenning, managing director, Odfjell Terminals looks at what is in store in the tank storage industry for 2026 Like all industries connected to global trade, we are affected by ongoing geopolitical uncertainty. Over the past year, several macro factors have reshaped product flows: Tariffs and geopolitics have created a ‘wait-and-see’ sentiment in the market, extending decision cycles. Deglobalisation and nearshoring are accelerating, with more domestic production serving local demand – particularly in the USA, where chemical output increasingly supports domestic consumption. Macroeconomic headwinds in Europe and slower growth in China have curbed chemical trade volumes, although essential industrial chemicals remain resilient. These dynamics affect terminals worldwide, yet Odfjell Terminals’ diversified footprint in strategic trade hubs has supported consistently high occupancy levels. In the specialty chemicals segment, storage demand remains structurally strong. Unlike commodity fuels, this market is shaped by long-term supply needs and value chain integration, resulting in greater stability. Our terminals in the US, Korea, and Belgium continue to operate...