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UK-headquartered Pan European Terminals (PET) - a company which provides transhipment and storage facilities into Europe and Russia for the hydrocarbon industry - says that its Dutch subsidiary Petro Broker International (PBI) is in discussions over new tank projects.

The 100-percent-owned storage business leases heated fuel oil tanks with a total capacity of 240,000 cubic metres in Europoort and Rotterdam and is said to have been operating at maxiumum capacity since September 2013.

In a statement, PET said: "The company is in discussions over new tanking projects and will update the market when these have been concluded."

Dan Balt Tank Lager A/S

Wholly owned subsidiary Dan Balt Tank Lager A/S 'continues to operate well', according to PET.

In August 2013, PET signed a new storage and transhipment contract on behalf of Dan Balt with bunker specialist Monjasa Group. The contract covers the handling of fuel oils and marine gas oil at its facility in Aabenraa, Denmark.

"Dan Balt, at Aabenraa in Denmark, continues to operate well, although the programme to expand its product range and increase profit per ton is still in its early stages. The board is confident that by Q2 2014 it will be able to report the results of this exciting new programme to shareholders.

"Dan Balt is a large ongoing project for the company and shareholders are reminded that this is a long-term development plan, the results of which are expected to have a positive impact on cash generation for years to come. It is essential that Dan Balt’s client base is nurtured so as to allow the terminal to service a variety of clients and products," PET said.

The terminal has 160,000 cubic metres (cbm) of storage strategically located close to PET’s existing ports but also close to Amsterdam, Rotterdam and Antwerp (ARA), and the Kiel Canal.

The terminal has two berths and is capable of discharging and loading on a simultaneous basis, with loading speeds of up to 1100 cbm per hour and unlimited discharge speeds through two insulated lines for fuel oil and up to three for gasoil.

It also handles molasses and has a dedicated discharge line for this product. Four road truck loading stations are on site to handle automatic bottom loading and top loading for all products.