Let's go Dutch

摘要

The StocExpo conference and trade show returns to Europe's oil trading hub Rotterdam at a time when refining on the continent is in die doldrums and oil markets are as backwardated as ever-both of which have big implications for Europe's tank storage sector. Frits Eulderink, chief operating officer of Vopak will deliver a keynote presentation on Day 1 of the StocExpo conference, tided 'Thriving even in a backward market'. Not even the mighty Vopak has been immune to the effect of backwardated markets and low demand for bulk liquids storage, as has been reflected in the company's end-of-year results for 2013 (see page 57). Even so, the terminal network remains profitable and cashflow is good, so there will be lots to learn from Vopak's example.