Vopak has released details of a number of projects planned for 2018. One being expansion at its Jakarta terminal another being expansion work at its Sebarok terminal in Singapore with the addition of 67,000 cubic meters of storage.
The Singapore expansion mainly caters for storage and handling of marine gasoil to strengthen the position of the Sebarok terminal as the bunker hub of choice with flexibility of handling multiple fuels following the implementation of the International Marine Organization’s global sulphur cap as of 1 January 2020.
PT Jakarta Tank Terminal (JTT) will grow by 100,000 cubic metres. The facility is a joint venture in Indonesia between Royal Vopak and PT AKR Corporindo Tbk (AKR). The expansion will take the total tank capacity of JTT to more than 350,000 cubic metres.
The company has also released its financial results for 2017 Q4 and the full year.
Highlights included: full year EBITDA of €763m, occupancy rate of 90%, full year EBIT of €490m, Q4 EBITDA of €193m, Q4 net profit of €76m and worldwide storage capacity on a 100% basis increased by 1.2 million cubic meters to 35.9 million cubic meters.
Chairman of the Executive Board and CEO of Royal Vopak, Eelco Hoekstra said: “Despite challenging market conditions, particularly in the oil markets, and following a strong performance in 2016, we had a satisfactory performance in 2017. We aim to identify and seize growth opportunities swiftly, ensure timely completion of projects under development and step up the global roll-out of our new digital systems. These steps will improve our financial performance by 2019.
“Our projects under development will add 3.1 million cbm of storage capacity to our global network by 2019. We announced new growth projects with a total capacity of 862,000 cbm in South Africa, Brazil, Canada and Malaysia in 2017. Vopak’s growth strategy is directed towards chemical (industrial) terminals and gas markets, while facilitating the increasing demand for fuels in emerging countries. “We will continue to explore and find new possibilities within the LNG infrastructure market, to expand our role as a service provider in the LNG value chain.
“In order to continue creating long-term value for all our stakeholders, we have taken strategic decisions regarding technology, and we are making substantial investments to deliver the full benefits of the digital transformation in future years to our customers and shareholders.
“We are embracing the changing dynamics of the energy transition. As an infrastructure and service provider, we do not drive market choices, but facilitate energy flows. We help introduce infrastructure and logistic solutions for clean and efficient fuels. Vopak will work on further reducing the negative impact of our operations on neighboring communities and the environment. We will define targets for delivering on the UN Sustainable Developments Goals that we selected, and are actively considering the final recommendations of the Task-force on Climate-related Financial Disclosures. We are committed to continue storing vital products with care.”
For more information visit www.vopak.com
23rd Feb 2018