Jurong Port and Oiltanking celebrate official launch of their JV, Jurong Port Tank Terminals
Jurong Port Pte Ltd and Oiltanking celebrated the official launch of their joint venture in Singapore, Jurong Port Tank Terminals (JPTT), last week.
The launch was officiated by Singapore’s Senior Parliamentary Secretary for Education, Trade & Industry, Low Yen Ling. During the commemoration, she noted that the terminal “provides valuable support to energy and commodity companies” considering “it is becoming increasingly challenging to create new storage space in land-scarce Singapore.”
Jurong Port Tank Terminals’ 480,000 cubic metres of storage capacity represent about half of recent additions to Singapore’s overall capacity.
Located on 16 hectares of existing land in Jurong Port, the new liquid bulk terminal will cater to the storage and trading of clean petroleum products. It will be supported by four jetties with draft of up to 17.6 meters capable of handling vessels up to 180,000 DWT.
The terminal will also be connected via pipelines to the Jurong Island petroleum and petrochemical network, thus providing significant efficiencies and benefits for its customers.
The construction of Jurong Port Tank Terminals started in May 2017 and is on track to be completed by 2019.
Jurong Port Tank Terminals is a key part of Jurong Port’s strategic vision of being a world-class multipurpose port operator through the development and expansion of its port operating capabilities.
The development of the new liquid bulk terminal will be an important milestone for Jurong Port as it will reinforce Singapore’s international maritime energy and chemicals hub status.
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