In September, the Port of Rotterdam Authority (PoR) started an open assessment procedure to realise the terminal. Interested parties have to return a questionnaire to PoR December 15 at the latest. On the basis of tentative discussions, PoR expects almost all major global tank terminal operators, traders and oil companies to attend the open assessment procedure. Tank storage Given the scarcity of sites with Triple A characteristics and the strategic considerations of PoR, even greater care than usual was taken in determining its most appropriate function. The market for the handling and storage of and trade in oil products has been steadily growing and is expected to continue doing so. Factors underlying this view: Worldwide production and demand regions show a growing imbalance, for which international transport and hub ports are needed. Cargo owners like major oil companies and traders want more control over their supply chain. As a result, they aim to negotiate long-term contracts (5-10 years) with tank terminal operators. Some companies who are looking for even greater control, have ventured into the field of tank storage themselves. Cargo sizes in the transport of oil products are growing. VLCCs with fuel oil have already been a common occurrence in Rotterdam. As regard to middle distillates, bigger cargo sizes of 90,000 or even 140,000 tonnes are more and more seen. Based on this long term view and plot characteristics it is decided that tank storage for oil products is strategically the most appropriate port activity. Procedure PoR selects the candidate via an open assessment procedure, in which every individual company or strategic joint venture has an equal chance to qualify. The start of this procedure is the execution of an international market consultation in which views are exchanged with all interested candidates.