Myanmar Gets Petroleum Products Terminal

  • As Bahri, HHI Partner Up on Big Data

Puma Energy Asia Sun (P.E.A.S), a joint venture between energy company Puma Energy and logistics and trading firm Asia Sun Energy (ASE), has opened a petroleum products terminal at Thilawa Port, southeast of Yangon, Myanmar.

The duo invested USD 92 million in the terminal, which is said to be the country’s largest petroleum products terminal. Its storage facilities cater for a range of petroleum products, including commercial fuels, HFO, bitumen and jet fuel.

With a fuel storage capacity of 91,000 cubic meters, Thilawa terminal is the first of its kind for the petroleum industry in Myanmar, according to Puma Energy.

“Puma Energy Asia Sun has invested close to USD 100 million in this vital fuel infrastructure to support the long-term economic development of the country. The Thilawa terminal will support Myanmar’s increasing need for transport fuel and contribute towards the nation’s development,” David Holden, General Manager of Puma Energy Asia Sun, said.

The Puma Energy Asia Sun terminal is also the first in Myanmar to be built to American Petroleum Institute (API), American Society Mechanical Engineering (ASME) and National Fire Protection Association (NFPA) international guidelines for construction, safety and environmental standards, the company added.

In the meantime, the National Shipping Company of Saudi Arabia (Bahri) has signed a Memorandum of Understanding (MoU) with the South Korean shipbuilder Hyundai Heavy Industries (HHI) for cooperation in the field of big data.

The agreement sets up a comprehensive framework for technical cooperation in the transport and logistics sector. As stipulated by the deal, the business cooperation will include conducting joint assessment on the feasibility of launching new projects and supporting the existing ones.

Bahri said that the MoU will enter into force for a period of six months, which could be extended until the completion of studies and potential decision making on the future steps involving concrete investments on those projects.

In an earlier interview with World Maritime News, Bahri, as a strong believer in the benefits of the big data, said that any company in any given industry has the chance to improve its performance by 5-10%, if not more, by using big data.

As explained by Anwar Siddiqui, Advisor to the CEO of Bahri, big data remains untapped in the shipping industry, therefore there are huge opportunities for innovation, usage, driving optimal performance, and leveraging assets better.

The company revealed that it was developing several big data models and building capabilities, aimed at contributing to saving money, improving customer efficiency, enhancing chartering, and increasing revenue as well as the asset life or efficiency.

Furthermore, the company added that it was investing in partnerships, remaining open to contributing and working with the industry in relation to big data.

Word Maritime News