Trafigura Beheer BV, an international commodities trading and logistics company, said that it has joined forces with the global bulk-liquid transportation, storage and distribution services firm, Stolt-Nielsen Limited, to develop a new bitumen distribution centre at Stolthaven Terminals’ Dagenham site, east of London.
Trafigura is expecting to invest a minimum of GBP 15 million over ten years in this long-term bitumen storage arrangement.
The project will see the development of a new storage area at the terminal, which was acquired by Stolt-Nielsen in late 2012 and is operated by the company’s Stolthaven Terminals division.
The terminal’s new bitumen storage capacity is expected to be brought online in mid-2015 and will store up to 20,000mt of the road-building commodity.
Bitumen, which is better known as asphalt, is a key component in both road-building and maintenance, as well as being used as a waterproofing product in roofing felt.
“Bitumen is an increasingly global product with long range arbitrage becoming ever more common. This terminal will allow us to widen the UK’s supply options,” said John Bell, Trafigura’s UK and Ireland Commercial Manager.
Walter E. Wattenbergh, President of Stolthaven Terminals B.V. said: “This long-term bitumen agreement is a good example of the kind of customer-specific storage and handling solution that we can provide at the Dagenham terminal, as we continue to enhance and expand this facility.”
Global midstream and downstream energy company, Puma Energy, in which Trafigura is a key shareholder, plans to supply high quality bitumen products to UK customers.
Puma Energy currently operates a bitumen distribution network as well as terminals across Africa, Asia Pacific and Central America.