PT Oiltanking Karimun, a joint venture between Oiltanking GmbH and Gunvor Group, is pleased to announce that it has commissioned its new state-of-the-art terminal with the successful receipt of 60,000 metric tonnes of gasoline and gasoline components. The terminal, which is strategically located within the Straits Hub, has a total storage capacity of 730,000 cbm designed to serve the growing demand for petroleum products in Asia.
With land scarcity in Singapore, Oiltanking selected the island of Karimun in Indonesia as the optimal location for its latest green field terminal to serve regional trade. Karimun is ideally located along the Malacca Strait and is in close proximity to Asia’s main oil trading hub in Singapore.
PT Oiltanking Karimun caters to the storage and handling of the full range of clean petroleum products as well as fuel oil and has ample ready-to-build land available to allow for expansions. Positioned within a Free Trade Zone, the terminal avails of four deep-water berths, including VLCC capability and excellent onshore infrastructure; thereby ensuring its customers of the highest quality of service and record turn-around times for their ships.
The new terminal in Karimun is a welcomed addition to Oiltanking’s existing facilities in the Straits Hub and will be operated in line with the Groups’ HSSE standards. Highly complementary to each other in terms of location and functionality, the facilities are fully equipped to serve various markets and product segments ranging from clean petroleum products to fuel oil, chemicals and gases and possibly Crude oil refers to unrefined petroleum that is found with the Earth’s crust. Read more, thereby offering great flexibility and choice to Oiltanking’s customers.
Oiltanking GmbH is a subsidiary of Marquard & Bahls, a Hamburg-based family-owned company that operates in the fields of energy supply, trading and logistics. Oiltanking is the second largest independent tank storage provider for petroleum products, chemicals and gases worldwide. The company owns and operates 73 terminals in 22 countries within Europe, North and South America, Middle East, Africa, India as well as in Asia. Oiltanking has an overall storage capacity of 19.2 million cbm.
Gunvor USA (“Gunvor”), a subsidiary of Gunvor Group, a leading global energy commodities trading company, has signed a crude oilCrude oil refers to unrefined petroleum that is found with the Earth’s crust. Read more supply agreement with CVR Supply & Trading, LLC (“CVR”), a subsidiary of CVR Energy, Inc. (NYSE: CVI). Under the terms of […]
VAKT today announces that the first-ever physical oil trade confirmations are being conducted using the VAKT technology. Gunvor Group and TotalEnergies Trading SA (TOTSA) lead this industry first, with more counterparties to follow. This digitised transaction is a milestone for the oil trading industry. Due to the complexity of physical oil trades, the contracting process has traditionally been manual and intricate. […]
Energy Transfer LNG Export to supply LNG to Gunvor Singapore Pte from its Lake Charles LNG Export Facility Under 20-year Agreement Energy Transfer LP (NYSE: ET) and Gunvor Group Ltd today announced that Gunvor Singapore Pte Ltd (Gunvor) has entered into an LNG Sale and Purchase Agreement with Energy Transfer LNG Export, LLC (Energy Transfer […]
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Gunvor USA LLC (“Gunvor USA” or “the Company”), a subsidiary of Gunvor Group Ltd (“Gunvor” or “the Group”), has successfully closed the syndication of its USD 1.1 billion borrowing base credit facility (“the Facility”). The Facility includes a USD 500 million accordion feature, which remains available to support future growth. The proceeds of the Facility […]
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Gunvor Group (“Gunvor”), one of the world’s largest physical energy commodities traders, has closed a new sustainability-linked borrowing base facility (“Facility”) to support operations at Gunvor Refinery Ingolstadt. The EUR 450 million Facility complements Gunvor’s other US $725 million sustainability-linked borrowing base for refining activities in the ARA, and similarly has an interest rate dependent on the company’s year-on-year improvements in multiple sustainability criteria in the areas of “environment”, “social impact” and “governance”.
HOUSTON (6 November 2019) – Gunvor USA LLC, a subsidiary of Gunvor Group, has successfully closed the syndication of its USD 1.1 billion Borrowing Base Credit Facility. Gunvor USA increased the size of the Facility by USD 100 million while expanding its US banking group. “Gunvor’s North America operations have received strong, steady support from […]
Gunvor USA LLC (“Gunvor USA”), a subsidiary of Gunvor Group, has successfully closed the syndication of a US $1 billion Borrowing Base Credit Facility (“facility”), which will support operations in the United States and Canada, as well as planned expansion in Latin America. Gunvor USA has three offices: Houston, TX, and Stamford, CT, which are […]