Tanjung Bin oil terminal phase 2 nears completion

On August 1, 2015, oil storage company VTTI is to see operations begin at the second phase of its Tanjung Bin oil terminal in southern Malaysia, Reuters reported on Thursday.

Built at a cost of $85m, the expanded facilities will add 12 new tanks for fuel oil and middle distillates, with a storage capacity of 260,000 cubic metres. With an existing capacity of 890,000 cubic metres, overall terminal capacity will increase by nearly 30 percent to 1.15 million cubic metres. The development will also include a sixth jetty, with a draft of 17.5 metres and which will be able to accommodate Aframax vessels with a capacity of 120,000 dead-weight tonnes.

Rotterdam-headquartered VTTI is a 50-50 joint venture between Dutch multinational commodity trading company Vitol and Malaysian maritime conglomerate MISC. The second phase was originally slated to come online in the second quarter of 2015.