Sign up
Log in Sign up
This is a legacy page. Please click here to view the latest version.
Thu 14 Jul 2016, 13:54 GMT

Vopak to operate Chevron's Panama terminal and build another


Construction of new 360,000-cbm terminal at Bahia Las Minas is expected to take around two years.

Royal Vopak has confirmed that it has reached a long-term agreement with Chevron to manage and operate for Chevron its existing 509,000-cubic-metre (cbm) terminal in Panama.

Chevron will continue to be the owner of the terminal. Vopak's operatorship is expected to start in the third quarter of 2016.

Next to this agreement with Chevron, the key regulatory approvals have been obtained for the development of a first phase 360,000-cbm independent oil terminal, owned by Vopak, in Bahia Las Minas at the same location. A long-term contract has already been signed for part of this new capacity.

The project entails, in addition to the new tankage, complementary marine infrastructure, including jetties to handle ships of up to 80,000 dwt. The construction is expected to take around 24 months and to start when the associated local construction permits are obtained in the coming months.

The location in Bahia las Minas, Panama, is strategically situated at the crossroads of international trade and transportation routes for refined products. It is very well located to serve the international refined products markets in the Panama region, and to serve the expected increasing bunkering needs resulting from the expansion of the Panama Canal.

Illustration of balance scale with cargo ship and penalty block. FuelEU penalties spark contract disputes as first-year compliance costs emerge  

Shipowners and charterers negotiate biofuel handling, payment timing, and multiplier penalties under new regulations.
Marina Bay Sands, Singapore. Singapore tops first global container port ranking by DNV and Menon Economics  

The port leads across all five assessment pillars in inaugural industry report.
Jack Spyros Pringle, Lloyd’s Register. Marine fuel procurement becomes strategic imperative as regulatory pressures mount: LR  

Operators must adopt comprehensive fuel strategies amid supply constraints and compliance costs, says Lloyd's Register.
Xinfu124 ultra-large LNG carrier. Private Chinese shipbuilder plans to deliver eight dual-fuel boxships  

Yangzi Xinfu is fully booked until May 2029 and expected to post annual sales revenue exceeding $1.4 billion.
Østensjø Rederi newbuild tug render. Østensjø Rederi orders methanol-ready tug from Spanish shipyard  

Norwegian operator contracts Astilleros Gondán for vessel with diesel-electric hybrid propulsion system.
Bound4blue worker in safety gear. Bound4blue establishes China production base for wind propulsion systems  

Spanish wind propulsion firm targets Asian shipbuilding market with outsourced manufacturing network.
Alfa Laval and Hanwha Ocean Ecotech sign MoU. Alfa Laval and Hanwha Ocean Ecotech partner on ammonia fuel systems  

Collaboration aims to develop ammonia fuel technology for dual-fuel vessels in the Asian market.
Meg Dowling, Lloyd's Register. Nuclear-powered boxships could deliver $68m annual savings: Lloyd's Register  

Small modular reactors could eliminate fuel costs and carbon penalties while boosting cargo capacity, says report.
Minerva Bunkering and Autoridad Portuaria de Las Palmas (APLP) signing ceremony. Minerva Bunkering extends Las Palmas terminal concession by 15 years  

Bunker supplier adds barge capacity and explores new terminal for energy transition fuels.
Liam Blackmore, Lloyd's Register. Ammonia Energy Association releases gas detection whitepaper with Lloyd's Register input  

Lloyd's Register contributed expertise to new guidance on ammonia detection systems for the maritime sector.

↑  Back to Top


 Recommended