Transparency
Market Research Reports incorporated a definite business overview and
investigation inclines on "Oil Storage Market". This report
likewise incorporates more illumination about fundamental review of
the business including definitions, requisitions and worldwide
business sector industry structure.
Global
oil storage market is composed of many small independent owners and
will experience growth in the coming future. This can be attributed
to the demand for oil storage which is rising at the major global
supply hubs because of increased trade between countries and is
expected to continue with the leading terminals worldwide as the
major beneficiaries.
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The
global market for oil storage has seen a rapid growth due to
increasing oil prices over the last few years. The rise in demand
for oil in some of the countries in South East Asia is likely to
propel the oil storage market in the region. Countries such as China
have lack of robust storage infrastructure which is propelling the
need for storage system which is driving the market for oil storage
systems. Some other factors such as to secure future oil needs for
the country is driving oil storage market in many regions. The tank
cleaning process generates oil sludge as residue which requires
cleaning under certain regulations such as Solid Waste Disposal Act
before releasing into environment. Also the storage tanks have
potential of soil contamination in the plant and storage sections of
refinery such as underground storage tanks and pipelines.
Some
of the major oil storage choke points and terminals in the world are
Singapore, Fujairah (United Arab Emirates) and Rotterdam (The
Netherlands). Rotterdam has a strong position in oil storage market
as a trading place due to the blending capacity and specialized
storage. Singapore is one of Asia’s major petrochemical and
refining hubs due to its strategic location between the Pacific and
Indian Ocean. Fujairah port is also expected to rise with the growing
demand in the Middle East countries.
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On
the basis of geography global oil storage market is segmented as:
North
America
Europe
Asia-Pacific
Rest
of World
Other
storage terminals include Amsterdam, Hamburg, Houston, Sao Paulo,
Shanghai, Shandong, Dalian and Jiangyin. The storage systems can be
used to store the bi-products from the refinery; it can store both
refined and un-refined products. On the basis of product type stored
in the storage systems the global oil storage market is segmented as:
Crude
oil
Gas
oil
Gasoline
Aviation
fuel
Naphtha
Diesel
Kerosene
Liquefied
Natural Gas
Liquefied
Petroleum Gas
Crude
oil is transported by two basic means:
Tankers
Pipelines
Once
the oil has been separated from natural gas it is transported through
pipelines to the refinery. The petroleum products travel through
tankers to the end user such as different countries or their coasts.
Tankers like ships and barges are used to supply vast volume of
liquid cargoes.
Some
of the key players in the oil storage market are Vopak, Oiltanking,
Kinder Morgan, Nustar, Magellan Midstream, Buckeye, Vitol (VTTI),
CLH, IMTT, Sunoco, CIM, Horizon, Odfjell, SUMED and Dalian Port.
Vopak is one of the world’s largest independent tank storage
service provider it operates nearly 84 terminals. The company
specializes in storage and handling of gases, chemicals and oil
products. Oiltanking is headquartered in Germany and it owns around
73 terminals in about 22 countries within Middle East, Europe, North
and South America. There are two major acquisitions recently in the
global oil storage market, in 2012, Oiltanking has acquired Helios
Terminal Corporation for USD 285 million and in 2010 Buckeye acquired
Bahamas Oil Refining Company for USD 1.7 billion.
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