SINGAPORE – Phase one of the new Jurong Port Tank Terminals (JPTT) was officially opened on Monday (July 29), with Senior Minister of State for Trade and Industry Chee Hong Tat saying it will allow Singapore to strengthen its position as one of the world’s top bunkering ports for low-sulphur fuels.
The $140 million, 16ha petrochemical terminal is a joint venture between port operator Jurong Port and German firm Oiltanking with 252,000 cubic metres of clean petroleum storage capacity.
From January next year the International Maritime Organisation that prohibit ships from using fuels containing more than 0.5 per cent sulphur.
Speaking at the opening, Mr Chee said the facility is purpose-built to handle clean petroleum products, with features such as dedicated clean storage capacity as well as dedicated tank inlet and outlet lines to prevent contamination.
He added that JPTT’s deep-water berths and dedicated jetties allow it to receive Suezmax-sized vessels – referring to large tankers which are able to carry about 160,000 tonnes that can transit through the Suez Canal – which offers economies of scale when transporting liquid bulk cargo.
Meanwhile, a direct pipeline to Jurong Island’s petroleum and petrochemical network allows firms to enjoy up to 30 per cent savings in transportation and handling costs, when compared to the use of vessels.
This adds strategic depth to Singapore’s maritime and petrochemical hub status, and is in line with Jurong Port’s “port-centric ecosystem” strategy, where the port is connected to industry nodes, said Jurong Port chief executive officer Mr Ooi Boon How.
JPTT has been partially operational since April, and Mr Ooi said it has received, blended and discharged more than one million tonnes of product since.
Mr Ooi, who is also the chairman of JPTT, announced that Chinese oil and gas firm Petrochina – the owner of local petroleum firm SPC – is JPPT’s first customer, taking up all of the tank capacity in the facility’s first phase.
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, said Mr Ooi, 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.”