February 21, 2017 [Oilhub Korea Yeosu] - In view of current demand in petroleum tank market, a number of oil players are experiencing the shortage of oil storage and are seeking for tanks availability. Oilhub Korea Yeosu (OKYC), one of the largest oil tank terminals located in South Korea, are reportedly offering open tender for the usage of their storage tanks recently.
OKYC is a petroleum complex logistics terminal company that was established to accomplish a project titled “Construction of Northeast Asia Oil Hub” which is being promoted as nation’s one of the major government projects. OKYC possesses total capacity of 8.2 million barrels of crude oil and petroleum storage facilities and four of its own Jetties that can berth from barges to VLCC.
As the current lease contract of the tanks is expected to be expired by the end of April, the new successful bidder is believed to get the service from beginning of May 2017 onwards. The total capacity of five offered tanks is approximately 70,000 cbm with storable cargo types of Middle Distillate and Light Distillate products.
To provide fair opportunity to all customers, tendering process will be conducted as an open tender and the deadline for submission is 15:00hr on 3rd, March 2017 in Singapore time (GMT+8).
The table below indicates detailed specification of offered storage tanks.
Capacity and cargo types of offered tanks
|
Tank No. |
Capacity (cbm) |
Storable Cargo |
|
T401 |
14,000 |
MD / LD |
|
T402 |
14,000 |
|
|
T405 |
6,000 |
|
|
T406 |
6,000 |
|
|
T407 |
30,000 |
|
|
Total |
70,000 |
The tender is open to all oil players who would like to use OKYC’s tanks. The information regard to this open tender is available to refer on OKYC’s website.
