News

Odfjell Terminals expands storage capacity in Ulsan

Odfjell has announced the approval of a new expansion project at Odfjell Terminals Korea (OTK).

The project comprises a new tank pit of ten tanks and will significantly broaden services and product handling capacity at the leading Ulsan terminal.

The project, named E5, will increase OTK’s capacity by 28% to exceed 400,000 CBM. The ten carbon steel tanks will be specially designed to store high-demand commodities such as benzene, methanol, aromatics, and ethanol.

The expansion aligns with the robust storage demand outlook in Northeast Asia.

“OTK has demonstrated its industry-leading operations and safety record over many years. The E5 expansion underscores Odfjell’s strong conviction and commitment to further consolidate OTK’s position as a regional leader. The project is a great example of Odfjell Terminal’s growth strategy, centred around creating resilient, long-term value for our customers and shareholders,” said Adrian Lenning, managing director, Odfjell Terminals.