A new oil storage facility has opened at Jurong, boosting Singapore's status as a key port for the supply of clean fuel for the maritime industry.
Phase one of the new Jurong Port Tank Terminals (JPTT) - a joint venture between port operator Jurong Port and German firm Oiltanking - was officially opened yesterday.
The 16ha petrochemical terminal which makes up the first phase is supported by four deep water berths, and is able to handle vessels which can carry up to 180,000 tonnes.
It has the capacity to store up to 252,000 cubic metres of clean low-sulphur petroleum.
The facility which costs $140 million, excluding the cost of certain infrastructure such as berths and jetty lines, comes ahead of a global regulation by the International Maritime Organisation.
From January next year, ships will not be allowed to use fuels containing more than 0.5 per cent sulphur, as part of global efforts to reduce maritime pollution.
Jurong Port's ability to continually innovate and create value for its customers will play a crucial role in ensuring that Singapore remains competitive in attracting strong investments from key players across various industries and creating good jobs for our workers.
MR CHEE HONG TAT, Senior Minister of State for Trade and Industry.
Speaking at yesterday's opening, Senior Minister of State for Trade and Industry Chee Hong Tat noted that the facility was purpose-built to handle clean petroleum products.
Its features include equipment to prevent contamination, he said.
He added that the terminal's deep-water berths and dedicated jetties allow it to receive Suezmax-size vessels - large tankers that are able to carry about 160,000 tonnes.
A pipeline linking the new facility to Jurong Island allows petroleum products to flow between factories on the island, storage tanks at JPTT and ships berthed at the terminal.
This allows the firms to save up to 30 per cent in transportation and handling costs, when compared to having to use vessels.
Jurong Port chief executive officer Ooi Boon Hoe said JPTT - which has been partially operational since April - has received, blended and discharged more than one million tonnes of product since then.
Also the chairman of JPTT, he disclosed that Chinese firm Petrochina, the terminal's first customer, has taken up all of the available Phase I capacity.
The oil and gas giant, which has a market value of US$169 billion (S$232 billion), is the owner of local petroleum firm SPC.
The second phase of the facility is expected to add an additional 310,000 cubic metres of clean petroleum storage, bringing JPTT's total storage capacity to 562,000 cubic metres.
Jurong Port is currently in deep discussions regarding the second phase of the project, Mr Ooi told reporters, though he did not provide a timeline for its completion.
Mr Chee added: "Jurong Port's ability to continually innovate and create value for its customers will play a crucial role in ensuring that Singapore remains competitive in attracting strong investments from key players across various industries and creating good jobs for our workers."