 Titan Petrochemicals Group Limited, listed on Hong Kong Stock Exchange (Stock Code: 1192), is a provider of oil logistic and marine services in the Asia Pacific region, in particular, in China. Titan delivers a broad range of oil services, including oil storage, shipping, distribution, and trading platform services. In addition, provides management services for a multifunctional ship-repair and shipbuilding yard, which is one of the largest in Asia.
The Group's oil logistics services' core business is storage, being subdivided into Floating Storage (offshore storage) and China Terminals (onshore storage).
Titan has been operating floating storage business in Singapore/Malaysian waters since 2003 and became the first and only operator to offer double-hulled FSU in Malaysia. All the Floating Storage Units (FSU) passed the inspections of oil companies and received valid SIRE report. The Group has the unique flexibility of deploying its fleet of VLCCs to be used as FSU. The FSU enjoy a strong demand from oil trading companies, since they provide our customers greater ease in blending and berthing access to their vessels.
Up till now, Titan's FSU achieved a 10 year of clear safety record in its operation, which was recognized by many international customers as well as the Malaysian Government.
Besides floating storage, the Group is developing and operating three large modern onshore petrochemicals storage terminals in China utilizing its hands-on experience in FSU operations and management. When completed, the Group will be the largest independent petrochemicals storage operator in China. The Group also engages in oil transportation and distribution, in order to provide complete downstream oil logistics services.
Although the Group has sold the Quanzhou Shipyard in Fujian, to Grand China Logistics in December 2010, Titan will continue to manage the business operations of the Shipyard for another two years in accordance with the original business plan. We believe that, with a quality management team, strong support from partners and its good geographical location, the Shipyard will continue to develop and grow. |
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