April 25, 2017 [OPIS] - Greenergy International has started the road loading of diesel and heating oil at Thames Oilport in the U.K., the company said yesterday.
Thames Oilport, the former Coryton refinery, received its first shipments of diesel when it opened for ship-in/ship-out storage last year. Greenergy took advantage of the contango structure in the oil market over the last year that incentivized the storage of oil products, and by the end of last year, the company had more than 250 million liters of diesel stored at the facility.
Royal Vopak completed its sale of Vopak Holding U.K., which included Vopak’s 33.3% investment in the Thames Oilport joint venture to Greenergy in January 2016. Over the last 12 months, additional refurbishment has allowed the tankage also to be used for diesel and gasoil throughput and truck loading.
“As we expand our sales from the facility, we will have the ability to receive product on larger ships onto Thames Oilport‘s deep-water jetties, further improving our access to global markets,” Greenergy Chief Executive Andrew Owens said in a statement.
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