July 2005

Oiltanking Builds New Oil Terminal in Singapore

Oiltanking Singapore begins construction on a 240,000 cbm tank terminal for clean petroleum products (gasoline, naphtha, and middle distillates) on Jurong Island. The first phase will be completed in August 2006 and strengthen Singapore’s position as leading petroleum and petro-chemicals manufacturing, regional distribution and trading hub.

The new S$100 million oil terminal will initially have 2 jetties for vessels up to 110,000 dwt and pipeline connectivity to Oiltanking’s existing three terminals located on the eastern edge of Jurong Island, approx. 4 km away. The facility will also initially feature two tank farms with six to nine tanks each, and capacity ranging between 6,000 cbm and 20,000 cbm. The new site also has additional land available for further expansion. After its completion in August 2006 Oiltanking’s total tank capacity in Singapore will total 1.3 million cbm, 1.1 million cbm of it for petroleum products.

As early as September 2005, a new berth will speed up the vessel turnaround rate by 25%.

At this time, Oiltanking operates 900,000 cbm of storage capacity for petroleum products, 180,000 cbm of it in a joint venture with neighboring Power Seraya. The terminals have excellent accessibility by water through eight existing jetties and one new jetty for vessels up to 150,000 dwt, which will be commissioned in August 2005.

The terminals are connected by various pipelines to, among others, PCS, Shell Bukom Refinery, Power Seraya, and the 212,000 cbm chemical terminal, which is a joint venture between Oiltanking and Odfjell.