Following its long-term vision to acquire margins at every stage of the supply chain, Renish Petrochem Group acquired a strategic asset of Oil Storage Terminal in Hamriyah-Sharjah in the UAE and within just a few years expanded the total capacity which now stands at 125,000 cbm comprising of 22 tanks.
The company acquired Alaska International in 2013 with just 60,000 cbm capacity for petroleum products. In just a few years, the company has increased its storage capacity to 125,000 cbm spread across its 22 tanks in light of expanding its operations in the region for base oil, bitumen, high centistokes fuel oil, rubber process oil, and gas oil.
Kalrav Dixit, Executive Director, Renish Group, said: “Acquiring and expanding Alaska International is a timely move intended to achieve our vision to broaden our reach. The facility does not act as a storage point alone but it also allows us to expand our offerings to cover every stage of the entire supply chain system.
“It helps in blending, making bulk, breaking bulk of cargoes, and many others. Additionally, as Alaska International is based in the strategically located UAE – particularly in the Hamriyah port where opportunities for bunkering, exports and blending are immense – we will now be able to efficiently meet the requirements of leading global oil players and subsequently grow our business in this area,” he added.
According to Renish Group, Alaska International’s 22 tanks are uniquely configured to handle clean and dirty products with direct connection to the outer berth with a 12 metre draft and the inner berth with a 7 metre draft.
The storage facility’s dock infrastructure can handle vessels with 12.5 metre draft. It is served by two oil product pipelines connecting to the main docks and two oil product pipelines from the barge dock.
“Alaska International has the right capacity that can serve the various needs of our clients in the Indian subcontinent, the Red Sea, and East Africa. Renish Group is keen to invest more in this strategic sector as we consider the oil storage industry as the key to our further advancement and development as a business organisation,” said Kalrav.
Owning and operating a storage terminal has allowed the Renish Group to contribute to the growing trading activities in the region. In addition, investing in the sector, which is a key growth area for the organisation, has also enabled the Group to capture the structural benefits of the oil markets with regard to the forward curve and future derivatives trading.
For more information, visit: www.renishpetrochem.com
6th Apr 2018