[ID] => 10311
[post_author] => 34
[post_date] => 2018-11-05 08:33:28
[post_date_gmt] => 2018-11-05 08:33:28
[post_content] => Vopak has reported a 4% drop in third-quarter revenues and operating profit compared to the year-earlier figures, with group EBITDA excluding exceptional items off by 3% at €553.6m. A drop in occupancy rates from 90% to 86% reflects market conditions at the company’s oil hub terminals; occupancy was stable in other areas.
During the quarter some 700,000 m³ of capacity was commissioned at the PT2SB industrial terminal in Malaysia, in which Vopak has a 25% interest.
Vopak has also announced a further expansion of activities in South Africa alongside its local partner Reatile. A 15,000-m³ LPG import/distribution terminal is to be built in Richards Bay for commissioning in mid-2020, subject to final conditions. Vopak is also to expand the Vlissingen LPG terminal in the Netherlands by 9,200 m³ to serve the local market for LPG and chemical gases. Completion of this work is also due by mid-2020.
Vopak says its strategic review of its terminals in Algeciras, Amsterdam, Hamburg and Tallinn is progressing on schedule.
[post_title] => Vopak: Oil hubs hit results
[post_status] => publish
[comment_status] => open
[ping_status] => open
[post_name] => vopak-oil-hubs-hit-results
[post_modified] => 2018-11-05 08:33:28
[post_modified_gmt] => 2018-11-05 08:33:28
[post_parent] => 0
[guid] => https://www.hcblive.com/?p=10311
[menu_order] => 0
[post_type] => post
[comment_count] => 0
[filter] => raw
Vopak: Oil hubs hit results
// By Peter Mackay on 5 Nov 2018
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