Thu 20 Aug 2009 07:19

Vitol enters into JV to build Malaysia terminal


New joint venture firm to own fuel oil storage terminal in southern Malaysia.



Vitol Tank Terminals International B.V., part of the Vitol Group, has announced that it has entered into a joint venture agreement today with MISC Berhad to incorporate a joint venture company on an equal partnership basis.

The joint venture company, Asia Tank Terminal Limited, will hold a 100 percent equity interest in an oil terminal in Tanjung Bin, located in south-west Johor, Malaysia.

The terminal company, ATT Tanjung Bin Sdn. Bhd. executed a long-term lease agreement with Seaport Worldwide Sdn. Bhd. in September 2008 for 50 hectares of land at the Tanjung Bin Petroleum and Maritime Industry Centre.

The terminal company will design, construct, commission and operate a 741,200 cbm terminal for storage of fuel oil, middle distillates and light distillates.

Signing on behalf of VTTI was its CEO, Mr. Rob Nijst and on behalf of MISC was its President/CEO, Mr. Amir Hamzah Azizan.

The terminal, subject to receiving the necessary approvals by the relevant Malaysian regulatory authorities, is anticipated to commence operations in April 2012.


CEO, Fredrik Witte and CFO, Mette Rokne Hanestad. Corvus Energy raises $60m from consortium for maritime battery expansion  

Norwegian energy storage supplier secures growth capital to accelerate zero-emission shipping solutions.

Indian Register of Shipping hosts at LISW 2025. Shipping industry warned nuclear power is essential to meet 2050 net zero targets  

Experts say government backing is needed for nuclear investment.

Rendering of LNG bunkering vessel Avenir TBN. ExxonMobil enters LNG marine bunkering with two vessels planned for 2027  

Energy company to charter vessels from Avenir LNG and Evalend Shipping for marine fuel operations.

Logos of international maritime associations supporting IMO Net Zero Framework. Shipping associations back IMO Net-Zero Framework ahead of key vote  

Seven international associations urge governments to adopt comprehensive decarbonisation rules at IMO meeting.

Concept illustration of biofuel and renewable energy production. Study claims biofuels emit 16% more CO2 than fossil fuels they replace  

Transport & Environment report challenges biofuels as climate solution ahead of COP30.

Rendering of Green Ammonia FPSO. ABB to supply automation systems for floating green ammonia production vessel  

Technology firm signs agreement with SwitcH2 for Portuguese offshore facility producing 243,000 tonnes annually.

VPS launches VeriSphere digital platform. VPS launches Verisphere digital platform to streamline marine fuel decarbonisation tools  

New ecosystem connects multiple maritime emissions solutions through single user interface.

Wallenius Sol vessel Botnia Enabler. Wallenius Sol joins Gasum's FuelEU Maritime compliance pool as bio-LNG generator  

Partnership aims to help shipping companies meet EU carbon intensity requirements through bio-LNG pooling.

IAPH Clean Marine Fuels Working Group. IAPH launches products portal with ammonia bunker safety checklist  

Port association releases industry-first ammonia fuel checklist alongside updated tools for alternative marine fuels.

Berkel AHK Logo. Berkel AHK joins Global Ethanol Association as founding member  

German ethanol producer becomes founding member of industry association focused on marine fuel applications.





 Recommended