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Tue 8 Mar 2011, 08:33 GMT

Vopak Fujairah terminal 'fully occupied'

Terminal operator Royal Vopak has said that all of its storage tanks at the Vopak Horizon Fujairah Ltd. terminal have been leased and are currently storing products.

"We're fully occupied," an official at Vopak, the world's largest independent storage tank operator, said this week, requesting anonymity.

"All tanks are storing oil products," he added.

Netherlands-based Vopak has 48 tanks in Fujairah, the leading bunker port in the Middle East, with a total capacity of 1.5 million cubic metres. The tank sizes range between 6,000 and 60,000 cubic metres.

Vopak Horizon Fujairah is a joint venture between Horizon Terminals Ltd., Royal Vopak, the Government of Fujairah and Kuwait's Independent Petroleum Group.

The company announced last year that it would be expanding its storage capacity in Fujairah by a further 606,000 cubic meters. The additonal storage [pictured], currently under construction, is set to come on stream by the end of 2011 and has already been leased out, Vopak said.

According to industry sources, the new tanks have been leased to BP, ConocoPhillips and Litasco.

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