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Chemoil begins operations at Helios Terminal

Chemoil begins operations at Helios Terminal

Singapore: Chemoil has inaugurated its 16.97 hectare flagship Helios Terminal in Singapore today. The $122m facility, which boasts 18 storage tanks with an aggregated capacity of 448,000 cubic meters for commercial use, also features a jetty capable of berthing two suezmaxes or six 10,000dwt tankers at a time. Additionally, in March Chemoil expects to gain access to a nearby Very Large Crude Carrier (VLCC) jetty equipped with advanced technology that enables it to unload a vessel up to 320,000dwt in 24 hours.

The launch ceremony for the new facility, held on Jurong Island, paid homage to Chemoil's late founder and ceo, Robert V Chandran and was officiated by Singapore's Minister of Finance and Education, Tharman Shanmugaratnam.

"The completion of the Helios Terminal signifies Chemoil's commitment to invest in Singapore in the long-term," the Minister said, adding, "such an investment not only increases Chemoil's own global footprint but it also complements Singapore's wider initiatives to develop its storage capacity as the world's largest bunker fuels port."

The Helios Terminal is expected to provide customers with flexibility through controlling fuel sourcing, blending, terminalling and barging operations. Chemoil expects to generate additional income by leasing approximately half of the terminal's total capacity to third parties.

Sanjay Anand, Helios Terminal md said, "Chemoil embarked on its journey to build the Helios Terminal back in June 2006 and the timely fulfillment of this ambition is testament to the dedication of the Chemoil team and the support of Singapore's maritime community. Today's celebrations mark the start of a new era of independence for marine fuel supply in Singapore and across the world's key bunkering destinations."  [28/02/08]