Sign up
Log in Sign up
Thu 20 Aug 2009, 07:19 GMT

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.

Vitol   Malaysia 
RINA employee on board vessel. RINA unveils Mermaid propulsion concept to navigate uncertain decarbonisation landscape  

Fuel-agnostic design claims savings of more than 1,000 tonnes per year in some applications.
Adinkerke and Aalter naming ceremony. Exmar names third and fourth dual-fuel ammonia-powered vessels  

Midsize gas carriers Adinkerke and Aalter named at formal ceremony.
Professor Lynn Loo, GCMD. GCMD outlines practical approach to quantity assurance in marine biofuel supply chains  

New report addresses verification of both total fuel volume and renewable content in biofuel transactions.
Steel-cutting ceremony of London Express class vessel. Hapag-Lloyd cuts steel for first vessel of new London Express class  

16,800-TEU LNG dual-fuel vessel is first of 12 newbuildings in the class.
Vessels at sea. DNV report warns regulatory uncertainty complicates fleet investment decisions  

CEO urges greater clarity to provide the confidence needed for long-term investment.
Blue Whale NxtGen Energy battery system. Corvus Energy launches LFP battery system developed with BYD Energy Storage  

Blue Whale NxtGen Power targets tugs, ferries and workboats with high power demand.
Welcome ceremony of Yampu vessel. World’s first battery-powered self-unloading bulk carrier enters service in Australia  

MV Yampu connects South Australia’s limestone trade with a battery-electric propulsion system.
Skipanes vessel. E-methanol-ready ro-ro vessel delivered to Smyril Line  

190-metre vessel is built for year-round North Atlantic operations and designed for future e-methanol conversion.
Belgium flag. Sunoil Biodiesel secures approval to supply biofuels in Belgium  

Dutch biofuel supplier expands its European footprint with Belgian market entry.
Tacoma Maersk naming ceremony. Maersk takes delivery of dual-fuel methanol-capable Tacoma Maersk in China  

9,000-TEU vessel is one of six mid-sized dual-fuel ships joining Maersk's fleet.




   Fuels & Propulsion

Ammonia B100 B24 B30 Bio-LNG / LBM / LBG Biofuel Biogas Biomethanol CBM Dual-fuel E-fuel E-methane / e-NG E-methanol Electric Ethanol FAME Green hydrogen Green/e-ammonia HVO Hydrogen LNG LPG Lubes Methanol MGO Nuclear UCOME ULSFO VLSFO Wind



 Recommended