September 25, 2013 [Odfjell SE] - Oiltanking Odfjell Terminals (Singapore) (OOTS) and Lanxess Butyl Private Limited have agreed to a long term Terminal Service Agreement to construct three spherical tanks of in total 12,000 cbm for the storage of Butadiene.
The feedstock Butadiene will be supplied from two sources to Lanxess; one from Petrochemical Corporation of Singapore (PCS) in Jurong Island and the other from vessel import into OOTS.
A rundown pipeline of about four km will be built from PCS to Oiltanking Odfjell Terminals (Singapore) and another pipeline of about 13 km will be constructed from OOTS to the Lanxess plant.
The total investment required is SGD 34.75 million for three spherical tanks and supporting infrastructure. The expansion is expected to be finalized first quarter 2015.
Lanxess is currently the global market leader for Nd-PBR (neodymium polybutadiene rubber) used in ‘green tires’ – the fastest growing sector in the tire industry focusing on increasing fuel efficiency and reducing rolling resistance – with an annual global growth rate of about 10 percent.
Growth in Asia Pacific is projected to reach 14 percent per year, barring any major economic slowdown.
