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SUCCESS IN ASIA EVENT REVIEW • TANK STORAGE ASIA 2019 EXCELLED AS A PRIME OPPORTUNITY FOR THE LEADING MINDS IN TANK STORAGE TO MEET AND EXPLORE WHAT THE FUTURE MAY HOLD FOR THE REGION It was a great turnout for Tank Storage Asia 2019 in Singapore this past 25 and 26 September as record numbers of attendees and new exhibitors flooded the floors. Regarded as one of the finest events for terminals, traders, petrochemical producers and equipment suppliers, the Tank Storage Asia event is the key moment in the calendar for those seeking to excel in the Asia market. The inclusion of events and programmes such as one-to-one networking opportunities, a show floor filled with demonstrations of ground-breaking technologies and a strong conference speaker line-up contributed to
TANK STORAGE ASIA PROVIDES A GOOD PLACE TO MEET AND TALK STORAGE TANKS
the 35 per cent increase in visitor numbers. New attendees to the show, including Matrix Applied Technologies, DoveChem, FQE Chemicals and APMS, added to the growth of the event and took advantage of the unrivalled opportunities to meet clients and develop future connections in Asia. Many of the main players and decisionmakers across the Asia region and beyond made their way to the show, including representatives from Shell, Saudi Aramco, Total, Dialog, Chevron, BP Singapore, BASF, ExxonMobil, Singapore LNG, Horizon, Thai Oil Group, Rotary Engineering, Cargill, Neste Singapore, Pertamina, Odfjell Terminals and many more. “It is a good event to meet with the industry’s key players,” says Vincent Quek, regional manager for Dixon Valve. “It saves us time and resources to meet in one place.”
“This is the perfect event for the terminal industry,” adds Mark Lim, commercial manager at Stolthaven. “It’s a great way of getting the industry together – terminal operators, our customers and vendors – to share experiences. It has been a great success and we’ll definitely be back next year.” Ramadan Fan, domestic marketing consultant at Saudi Aramco, says: “The conference provided us with an insight into the regional and global storage market and gave us the opportunity to connect with peers from across the industry.” There were more than 1,550 meeting requests submitted through the networking platform in the lead up to the event. Commenting on the networking platform, Jon Verlander, regional sales manager at Saferack, says: “This networking platform was a great addition to this year’s Tank Storage Asia. It has helped us meet the people we needed to see at the show.” 2020 EXPECTATIONS There was plenty to be discussed as visitors looked to the future and took note of current events. Tank Storage Asia 2019 was held just days after the drone strikes that affected Saudi Arabia’s oil supply; it was no surprise that geopolitical tensions and volatile market conditions featured highly in the conference room and how the markets of 2020 will begin. Paul Hickin, associate director at Platts, examined the balance between supply and demand in the marketplace. It is well documented that oil demand worries continue in the wake of the global slowdown and the recession risk is now considered to be at 35 per cent, according to Hickin. However, Hickin explained that IMO 2020 could provide a demand spike and oil demand growth could remain above 1m bpd in 2019 and 2020. Following this, S&P Global Platts aired its prediction that oil prices are likely to break the $55-$65/bbl range, perhaps reaching $80/bbl. However, in the longer term, prices may well settle back around $55/bbl, highlighting the fragile balance between supply and demand. Tank Storage Asia 2020 will be held on 7 and 8 October, once again at the Marina Bay Sands in Singapore. www.tankstorageasia.com
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