Oiltanking lifts capacity in Singapore storage
The deal will increase petroleum capacity in the Singapore storage business by 37%
Germany’s Oiltanking is to buy the Helios oil storage terminal on Jurong island, Singapore, from Chemoil. The acquisition will increase Oiltanking’s petroleum capacity in the booming Singapore storage business by 37%, although it will still be number-two in the port to Vopak. Oiltanking will pay $285 million for the Helios terminal, which – having started-up in 2008 – is one of Singapore’s newer facilities. The terminal has a capacity of 503,000 cubic metres (cm), and was purpose-designed for the storage and blending of fuel oil. Its six-berth jetty can handle tankers of Suezmax size, with two mooring at the same time. Chemoil, a marine fuels supplier, is to continue to operate its bunkering
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
