Oiltanking Malta Expands Its Petroleum Storage and Jetty Capacity
Oiltanking expanded its petroleum storage and jetty capacity within its terminal facility in Malta with 90,000 cbm and an additional berth to accommodate its customers increasing demand for fuel oil storage capacity. The additional fuel oil storage capacity strengthened Oiltankings hub position within the Mediterranean petroleum storage market. The new tanks increased the total storage capacity of Oiltanking Malta to 560,000 cbm. The additional berth could accommodate vessels ranging up to 50,000 dwt and allowed for a draft of 13.5 m. In total, Oiltanking Malta offered 4 berths for vessels up to 120,000 dwt with a draft of 16 m.
The central location of Oiltanking Malta close to the main international shipping lanes was much appreciated by the market for its efficient distribution to the various Mediterranean countries and for leveraging on long-haul arbitrage opportunities both going East and West.