Vopak Builds New Storage Terminal for Crude and Products in Hainan
05.25.2011 - NEWS

May 25, 2011 [Vopak] - Royal Vopak (Vopak) and the State Development Investment Corporation (SDIC) of China have taken the final investment decision to build and operate an independent storage terminal for crude oil and oil products on 58 hectares of land in Yangpu, Hainan, China.


For this purpose a joint venture has been established in which SDIC holds 51% of the shares and Vopak holds 49%. The terminal will have two jetties and a storage capacity of 1.35 million cubic meters (cbm), and is located within the Yangpu Economic Development Zone. One of the jetties accommodates Very Large Crude Carriers (VLCC’s). Vopak and its partner SDIC recently obtained approval from the NDRC to develop the terminal and are completing the final preparation phase to start the construction of the terminal.

The joint venture aims to develop Vopak SDIC Terminal Yangpu into a break bulk and blending hub terminal. With a VLCC jetty and excellent natural deep water access, this terminal will be the first independent third party oil storage terminal in South China that can receive and handle crude tankers of up to 375,000 DWT. The joint venture plans to commission the terminal, of which the storage capacity can be expanded up to 5.2 million cbm in the future, by the end of 2013. For the development of the terminal a project financing agreement has been signed with a syndicate of six Chinese banks, led by Agricultural Bank of China.

Hainan is strategically located along important shipping lanes for crude oil that connect the Middle East, South America and Africa to the Far East as well as to the West Coast of the United States. The crude oil shipped into this South Chinese region is expected to grow considerably in the coming years.

Vopak actively pursues a growth strategy in China and many other locations around the world that are of critical importance to its customers. With this new terminal in Hainan the storage capacity of Vopak’s Chinese terminal network increases from 1.2 million cbm today to well over 3 million cbm in 2013.
On a global scale Vopak will add more than 6 million cbm to its total storage capacity for bulk liquids including the announced projects in China leading to a total storage capacity of 31.4 million cbm at the end of 2013.

Universal Fine Chemicals SPC Beaks Ground on World’s Second-Largest Polymer Manufacturing Plant at Sohar Port and Freezone
12.10.2024 - NEWS
December 10, 2024 [Sohar Port Freezone]- Under the patronage of His Excellency Sultan bin Salim A... Read More
EGAS Signs Regasification Service Agreement with the Supplier of the Second Floating Regasification Unit
12.10.2024 - NEWS
December 10, 2024 [EGAS]- As part of the Egyptian Natural Gas Holding Company’s (EGAS) strategy... Read More
Air Liquide Receives EU Support to Develop the First Large-Scale Project for the Production, Liquefaction, and Distribution of Low Carbon and Renewable Hydrogen from Ammonia
12.10.2024 - NEWS
December 10, 2024 [Air Liquide]- Air Liquide has been awarded a grant of 110 million euros from t... Read More
Yara Starts Production of Renewable-Based Ammonia in Brazil
12.10.2024 - NEWS
December 10, 2024 [Yara]- The first in Brazil, Yara now produces ammonia made from renewable biom... Read More