Vopak meets target, boosts capacity

Friday 12 March 2010

Tank storage group Vopak reported turnover up 8% in 2009 at just over €1bn as its worldwide capacity grew to over 28 million cubic meters.

Net profit excluding extraordinary items was up 20% at €242.7, the company said in a statement.

In particular, the growing demand for environmentally friendlier fuels remains a contributing factor to the increasing demand for tank storage, the company said.

'The demand for storage of chemical products is however more volatile. Especially in Europe, where demand for chemicals storage decreased, we have focused on storing alternative products such as biofuels and oil products at some of our chemicals terminals,' CEO John Paul Broeders said.

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