During 2005, 522 vessels discharged or loaded a total of 3.9 million tonnes of oil at Oiltanking Malta. This turnover is the fruit of a Lm22 million investment, with a further Lm10 million earmarked for its current expansion project, that of Jetty 4 – a state-of-the-art quay with oil pipes laid below the surface so as not to disturb the operations of other areas.
At an investment of Lm2 million, it is equipped with all the latest quick release hooks, fendering systems and firefighting equipment, to be compliant with the most stringent EU standards. The three new tanks in Tank Field 4, representing the first phase of expansion in this area, are a Lm8 million project and will provide extra capacity of 90,000 cubic metres. This investment was made possible after Oiltanking Malta entered a series of long term agreements with international oil traders.
The statistics were released during a visit to Oiltanking made by Competitiveness and Communications Minister Censu Galea yesterday.
Once the full expansion of the terminal is completed and Oiltanking Malta’s facility has attained its full potential storage capacity, the facility will offer its clients more than 526,000 cubic meters of storage space. Centrally located in the Mediterranean close to the main shipping lanes between Europe, Africa, the Middle East, the Pacific Rim and the US, the terminal will thus further enhance its important role as turntable for the oil-related business.
Established in 1989, Oiltanking Malta is jointly owned by Oiltanking Gmbh of Hamburg (with 70 per cent of shares) and the Malta Freeport Corporation (30 per cent). Oiltanking is the second-largest independent tank storage provider for petroleum products, chemicals and gases world-wide.
Oiltanking owns and operates 70 terminals in 19 countries in Europe, North and South America, the Middle East and Asia. The group operates a total storage capacity of worldwide 11.1 million cbm. Currently Oiltanking Malta has 19 tanks, spread over three sections at its site at the mouth of Marsaxlokk. Its tanks can hold more than 361,000 cubic metres of oil. All its capacity is contracted to third parties, which use the facilities to store and trans-ship oil.
During his visit, Minister Galea was accompanied by the managing director Leddy Evangelista, and directors Mark Portelli and Reynold Portelli.
The minister said that he is pleased to know that “Oiltanking Malta Ltd which employs 45 people to run its services at present, is also expecting to increase that number as new capacity comes on-line. Oiltanking Malta invests heavily in its people, while training courses on occupational health and safety are conducted regularly. Safety is high on the company’s agenda, and it is important to note that OTM was also one of the first companies in Malta certified to ISO 9001.”