Royal Vopak registered a 35% year-on-year growth in group operating profit for 2007 with EUR 292.2 million ($449.7 million).
“In 2007, we pursued our extensive growth program consistently, and successfully developed the strategic focus on growth, customer focus and operational efficiency,” said Royal Vopak executive chairman John Paul Broeders.
Net profit attributable to holders of ordinary shares was announced to be EUR 181.1 million ($278.7 million), which is an impressive 40% jump from 2006 results.
2007 saw Vopak adding 878,000 cubic metres (m³) of storage capacity to its global network, divesting 268,100 cbm and entering the LNG market.
According to Broeders, the additional storage capacity has come on stream due to “enormous efforts” on a 'large-scale' expansion program and implementation of strategic initiatives.
The new capacity includes a terminal in Zhangjiagang, China with 124,600 m³ of storage for chemical products which came on stream June 2007.
First part of a major expansion project at the Europoort oil terminal in Rotterdam, with 240,000 m³ of new capacity for fuel oil, was completed.
A further 165,000 m³ of capacity for chemical products and biofuels was also added at its Banyan Terminal in Singapore.
Overall, new storage tanks were taken into use in 2007 at terminals in Australia, Belgium, China, South Korea, Mexico, the Netherlands, Saudi Arabia, Thailand and the US.
Meanwhile, Vopak is expecting demand for storage services to continue to be high in all markets, with no indications that this trend will change in the next few years.
Increased demand prompted its announcement of several new projects in 2007 including a partnership with AKR to open an oil products storage facility in the Indonesian port of Tanjung Priok by end 2009.
Based on the current projects under construction, the Dutch-headquartered company will add more than 2.7 million m³ of storage capacity around the world in the next two years.
Officials expect these projects to start returning profits by 2009.
Successful completion of the Vopak Bahamas Terminal project and a joint venture in Estonia will boost Vopak's global capacity to more than 28 million m³, said the company today.
“In 2007, we pursued our extensive growth program consistently, and successfully developed the strategic focus on growth, customer focus and operational efficiency,” said Royal Vopak executive chairman John Paul Broeders.
Net profit attributable to holders of ordinary shares was announced to be EUR 181.1 million ($278.7 million), which is an impressive 40% jump from 2006 results.
2007 saw Vopak adding 878,000 cubic metres (m³) of storage capacity to its global network, divesting 268,100 cbm and entering the LNG market.
According to Broeders, the additional storage capacity has come on stream due to “enormous efforts” on a 'large-scale' expansion program and implementation of strategic initiatives.
The new capacity includes a terminal in Zhangjiagang, China with 124,600 m³ of storage for chemical products which came on stream June 2007.
First part of a major expansion project at the Europoort oil terminal in Rotterdam, with 240,000 m³ of new capacity for fuel oil, was completed.
A further 165,000 m³ of capacity for chemical products and biofuels was also added at its Banyan Terminal in Singapore.
Overall, new storage tanks were taken into use in 2007 at terminals in Australia, Belgium, China, South Korea, Mexico, the Netherlands, Saudi Arabia, Thailand and the US.
Meanwhile, Vopak is expecting demand for storage services to continue to be high in all markets, with no indications that this trend will change in the next few years.
Increased demand prompted its announcement of several new projects in 2007 including a partnership with AKR to open an oil products storage facility in the Indonesian port of Tanjung Priok by end 2009.
Based on the current projects under construction, the Dutch-headquartered company will add more than 2.7 million m³ of storage capacity around the world in the next two years.
Officials expect these projects to start returning profits by 2009.
Successful completion of the Vopak Bahamas Terminal project and a joint venture in Estonia will boost Vopak's global capacity to more than 28 million m³, said the company today.