Odfjell Terminals Houston Expanding storage capacity

Odfjell is constructing a new tank bay at Odfjell Terminal Houston, continuing to expand and invest in its terminals platform to support ongoing regional growth in the chemical industry. Odfjell is investing in and expanding its terminals platform with the addition of a new, modern, automated tank bay. Bay 13 at Odfjell Terminals Houston will increase capacity by approximately 9% to 413,400 cubic meters. The expansion project is consistent with OTH's strategy of positioning itself for healthy demand for storage capacity in the specialty & petrochemical industry in the US Gulf Coast region, where OTH has been operating at or near full capacity for years. Bay 13 is set to begin construction in the first quarter of 2022 and is expected to be operational by the end of 2023. The expansion will be fully financed through an existing credit facility.Bay 13's nine new tanks will be comprised of a mix of stainless steel and carbon-steel, with a total capacity of 32,400 cubic meters. The new tanks will allow OTH to relocate and consolidate products of existing customers and optimize the use of its current storage capacity for new customers and products. The tank bay will be highly automated, requiring less manual intervention, and will benefit from the ongoing Digital Transformation Program, which includes an advanced ERP system and automated control systems.Bulk chemicals, including intermediate and specialty chemical products exports in the US Gulf are expected to increase by 2.3 million metric tonnes by 2024, while import volumes are expected to increase by 389,000 metric tonnes by 2030. As a result, storage demand is expected to rise and the development of Bay 13 will assist in further optimizing OTH and allow Odfjell Terminals to support industry growth for new and existing customers.OTH has been a leading provider of storage, transfer, and distribution services to the liquid bulk chemical industry for nearly four decades. With its current 119 tanks, two deep water ship docks, four barge berths and one of the largest stainless steel storage capacities of any independent tank terminal in the world, OTH is strategically located near the entrance of the Houston ship channel and serves as a major international hub for chemical import and export to and from the United States. Odfjell Terminals Houston, is owned by the Joint Venture Odfjell Terminals US which is owned 51% by Odfjell SE and 49% by Northleaf Capital Partners. Read more about Odfjell Terminals here.

Odfjell Terminals Houston Expanding storage capacity

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