Market growth for the big oil-storage players

Demand for independent oil storage capacity at the world's main supply hubs is rising as new refiners seek markets and long-haul trade expands, Martin Quinlan writes

LOGISTICAL and trade trends are expanding the demand for independent storage capacity at the world’s high-volume supply hubs. The leading terminal operators are benefiting and new capacity is being constructed – but business is more competitive for supply chain operators away from the main hubs. A key driver for increased logistical demand is the start-up of new refining capacity in Asia and the Middle East, and the consequent increase in long-haul shipments of refined oil products. Increased trade demand is being driven by new entrants – the new refiners, national oil companies and local firms on the expansion trail. All need storage capacity near the market to back up their supply offers