Southern Petrochemical Storage acquires tank farm in Guangzhou from Titan Petrochemicals

Southern Petrochemical Storage Co., a provider of petrochemical storage services, acquired in July an oil tank farm in Guangzhou, China, from Titan Petrochemicals Group Limited,
debt-ridden oil trading and logistics firm based in Hong Kong.
The Nansha tank farm has a total storage capacity of 918,300 cubic meters. The terminal has three phases — Phases I and II of the facility provide 590,000 cubic meters of fuel oil storage and 125,300 cubic meters of chemical storage capacities, while Phase III has 203,000 cubic meters of storage capacity.
The Nansha terminal provides international and domestic clients with loading and unloading, storage and blending services of petroleum, petrochemical and chemicals. As a petrochemical logistic bonded facility, Nansha also offers transshipment services for clients.
The acquisition enables Southern Petrochemical to strengthen its oil storage services in China. In addition, Southern Petrochemical acquired Titan’s tank farms in Shanghai, Quanzhou and Yantai.
(August 1, 2013)