Oiltanking Singapore Chemical Storage Pte Ltd, a joint venture company between Oiltanking GmbH and Macquarie Infrastructure and Real Assets has tied up with Shell Eastern Petroleum Limited for additional propylene storage.
With the existing C3 system at Oiltanking Singapore for Shell, this new addition of two propylene bullet tanks will complement and strengthen the strategic partnership between Shell and Oiltanking Singapore Chemical.
Securing this new expansion for propylene, a key feedstock for Jurong Island, Oiltanking Singapore further anchored its position as a key chemical/propylene hub and integrated logistics and service provider for feedstock.
With the new additional bullet tanks, the terminal will offer 84 tanks with individual storage capacity ranging from 800 cbm to 18,000 cbm, equivalent to a total storage capacity of 409,000 cbm.
Oiltanking GmbH is a subsidiary of Marquard & Bahls, a Hamburg-based company that operates in the fields of energy supply, trading and logistics. Oiltanking is one of the largest independent tank storage providers for petroleum products, chemicals and gases worldwide. The company owns and operates 76 terminals in 25 countries within Europe, North America, Latin America, the Middle East, Africa, India, and the Asia-Pacific region. Oiltanking has an overall storage capacity of 20 million cbm.
Macquarie Infrastructure and Real Assets (MIRA) is part of Macquarie Asset Management Group, the asset management arm of Macquarie Group, a diversified financial group providing clients with asset management, banking, advisory and risk and capital solutions across debt, equity and commodities. As at 31 March 2018, MIRA has assets under management of more than $A155.3 billion invested in 148 portfolio businesses, 300 properties and 4.5 million hectares of farmland.