Greater Singapore storage developments challenge Singapore
New independent oil storage terminals due to start-up in 2014 and 2015 could threaten Singapore’s good times
By the middle of 2015, two new independent oil terminals near Singapore will have started operations, competing for the trade which has given the Singapore operators the highest storage fees in the world. The new terminals – in Indonesia and Malaysia, but directly facing the shipping lanes to Singapore – will add capacity equivalent to 22% of Singapore’s existing terminal capacity. For a while now, Singapore’s storage insiders have been talking about the emergence of a Greater Singapore oil hub. With no more land available for storage terminals in Singapore, some argue that new terminals to be built nearby will secure the long-term future of the Singapore hub – which is seeing competition fr
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
