Odfjell Terminals US, a subsidiary of the Norwegian shipping and tank terminal company Odfjell SE, has completed the construction and commissioning of its Bay 13 at the Houston Terminal (OTH).
The expansion project features nine new tanks, with a combined capacity of 204,000 barrels.
Bay 13 features a combination of stainless steel and carbon steel tanks and it is specifically designed for the storage needs of specialty chemical products. Each tank has been engineered with positive pressure systems and full automation, as part of Odfjell Terminals’ efforts to minimize emissions and environmental impact.
“As we continue to invest in our assets, we are proud to have developed a new tank bay that will set the standard for our business with state of the art automation and controls with enhanced operating flexibility that prioritizes both environmental sustainability and operational efficiency,” CEO of OTUS, John Blanchard, said.
With a total storage capacity of 379,981 cubic meters across 119 tanks, OTH has been an operational hub since 1983. Boasting a stainless steel storage capacity of 113,180 cubic meters, the facility is strategically located near the entrance of the Houston ship channel, a major international hub for the import and export of chemicals to and from the USA.
Following a decision by Odfjell to extricate itself from tank container operations, Hoyer has acquired the 50 per cent stake in the Hoyer-Odfjell BV tank operating joint venture that it did not already own. The transaction occurred after disagreements between the two parties over the optimum long-term strategy for the company and brings to an end their five-year relationship.
Tank container operators, like the rest of the tank industry, remain rooted at the bottom of the current deep market depression. Despite pressures for further consolidation, the sector is locked into a phase of intense competition during which the emphasis has been on in-house cost-cutting measures.