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Wednesday, July 23 2014 @ 04:21 PM EDT

Chemoil to build new storage terminal in Panama

Panama NewsBy Loh Kim Chin, Channel NewsAsia - Singapore: Singapore-listed Chemoil is planning to build a new storage terminal in Cristobal, Panama. The terminal is expected to have a capacity of 245,000 metric tonnes or 1.6 million barrels of oil. Construction will take two years and will include a pier capable of berthing vessels of up to 110,000 tonnes and up to four bunker barges. The new terminal will allow Chemoil to substantially increase its bunkering and cargo sales while reducing per unit operating costs. - CNA/ir
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