A proactive approach in a contango market

As demand for storage outstrips supply, Inter Terminals has made a multi-million Euro investment.

The investment is in large ship handling and oil storage at the Asnaes Oil Terminal (AOT) in the Danish Straits, the third most active channel for oil products in the world.

Dredging and improvement works at AOT’s main oil quay and an adjacent jetty have resulted in deepening the drafts to 11.5m and 14.2m respectively. The jetties are able to accommodate vessels of Aframax and Suezmax up to 180,000 tonnes. To match this new loading/unloading capability two tanks at the terminal are being recommissioned, providing an additional 40,000 cubic metres of oil storage.

New developments – the installation of mixers/blenders in heated fuel oil and vacuum gas oil (VGO) tanks and radar-based tank gauging technology – at Asnaes are part of an upgrade programme at all four Danish terminals.

AOT, one of four coastal oil terminals operated by Inter Terminals in Denmark, is capable of storing 430,000 cubic metres of products, with the other terminals located at Ensted, Stigsnaes and Gulfhavn. The AOT complex occupies a strategic position for international movement of fuel oil destined for Europe, Asia and the USA.

Inter Terminals’ most recent acquisition in Sweden strengthens the company’s position on the Baltic still further with four terminals totaling 1.2 million cubic metres at the country’s principal ports of Göteborg, Malmö, Södertälje and Gävle. Occupying prime positions that cover both the west coast and Baltic Sea product flows, the terminals provide specialist storage, handling, and distribution for a diverse range of products including fuel oil, diesel, jet fuel, VGO and bitumen.

“Average utilisation rates across our European storage network in the first three quarters of 2015 were 93% compared with 77% for the same period in 2014,” said chief executive Martyn Lyons.

“Our ongoing investment in this strategically important location means we’re ready and able to meet the fast changing needs of the market and our customers.”