April 1, 2019 [Bunkerspot] – As part of its tank expansion project in Singapore, Vopak is to add four new tanks with 67,000 cbm of storage to its Sebarok terminal to meet an anticipated rise in marine gasoil (MGO) demand due to IMO 2020.
‘The expansion, to be commissioned by end 2019, aims to cater for handling of marine gasoil, strengthening Singapore’s position as the bunker hub of choice with flexibility of handling multiple fuels,’ Vopak’s Communicationos Manager, Alexis Oh, told Bunkerspot. With a total of 79 tanks, Vopak’s Sebarok terminal currently has a capacity of 1.26 million cbm.
Working with Hiap Seng Engineering, a specialist integrated engineering group for the oil-and-gas, petrochemical and pharmaceutical industries, Vopak says it has adopted an innovative approach to tank construction to minimise activities in an operating terminal, improving safety and cost efficiency.
MGO demand is expected to rise significantly in the run up to and months following the 1 January IMO 2020 deadline. As Bunkerspot previously reported, the International Energy Agency (IEA) reiterated that, according to its base case estimate, after the introduction of the 0.50% sulphur global cap, demand for gasoil is set to rise from 900,000 mb/d to 2 mb/d.