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2012 Independent Storage Survey: Singapore and the Malaysian challenge

Some say the construction of oil storage terminals in Johor, Malaysia, will strengthen the “Greater Singapore hub” – but others say new capacity will spoil the fun

Demand for independent oil storage capacity in the Singapore trading and supply hub has been increasing year-on-year, generally a step or two ahead of growth in capacity. But that could change. The Malaysian government is promoting the construction of oil terminals along the coast of Johor, separated from Singapore by the narrow Johor Strait. Malaysia sees a future for itself as an oil hub, with operations in trading, supply, refining, petrochemicals and gas. The government is offering special benefits – including a corporate tax rate of only 3% – to attract trading companies to the country. Trading companies need independent storage capacity, so incentives and land are on offer and a target

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