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Companies have some six weeks left to express their formal interest to develop the Tank Terminal Europoort West (TEW) in the port of Rotterdam. The proposed project is said to have already seen 'much interest' from a number of parties.

The 36 hectare plot of land available to build the terminal is the only large site still available in the existing port and industrial complex with direct deep-water access - up to approximately 20 meters. The plot is situated adjacent to the entrance of the port.

In September, the Port of Rotterdam Authority (PoR) started an open assessment procedure on the terminal. Interested parties are required to return a questionnaire by December 15th at the latest.

"On the basis of tentative discussions, PoR expects almost all major global tank terminal operators, traders and oil companies to attend the open assessment procedure," the port authority said in a statement.

Tank storage

Given the scarcity of sites with Triple A characteristics, the port authority said that even greater care than usual was taken to determine the most appropriate function for the plot of land.

The Port of Rotterdam Authority pointed out that the market for the handling and storage of and trade in oil products has been steadily growing and is expected to continue. Factors underlying this view were said to be:

* Worldwide production and demand regions show a growing imbalance, for which international transport and hub ports are required.

* Major oil companies and traders want increased control over their supply chain. As a result, they aim to negotiate long-term contracts (5-10 years) with tank terminal operators. Some companies who are looking for even greater control, have ventured into the field of tank storage themselves.

* Cargo sizes in the transportation of oil products have been steadily increasing.

Based on this long-term view and the plot characteristics the Port of Rotterdam Authority decided that tank storage for oil products would be the most appropriate port activity.

Procedure

The Port of Rotterdam Authority will select candidates via an open assessment procedure in which every individual company or strategic joint venture has an equal chance to qualify.

The start of this procedure is the execution of an international market consultation in which views are exchanged with all interested candidates.

Further information on Tank Terminal Europoort West can be found at the following address below:

http://www.portofrotterdam.com/en/Business/liquid-bulk/Pages/TEW.aspx