New joint venture to help meet bulk liquid-storage demand in Taiwan
A joint venture between Stolthaven Terminals and Revivegen Environmental Technology Co. Ltd. was made official Jan. 12 at a ceremony with Taiwan Cooperative Bank in Kaohsiung.
Stolthaven Revivegen Kaohsiung Terminal Co. Ltd. (SHRVK) will meet growing customer demand for high-quality bulk liquid storage in the region and introduce more international trade to Taiwan.
The two companies formally entered the joint venture to develop a new greenfield terminal in Kaohsiung Port, Taiwan, after signing a letter of intent in April 2021.
Together, they plan to develop integrated storage, drumming, warehousing and distribution solutions for chemical and bulk specialty-liquid customers.
The terminal is also well positioned to provide storage to support the transition to greener energy and fuel alternatives, including ammonia.
Biofuels such as hydrotreated vegetable oil (HVO) and fatty acid methyl esters (biodiesel) “is a market that the terminal is keen to work in, and there are tanks that can be readily modified to suit the needs of products related to biofuel,” said Jessica McCahon, senior communications manager with Stolt-Nielsen.
Supporting the transition to alternative fuels aligns with the Taiwan government’s strategy towards net-zero emissions by 2050, which includes ambitions to cut carbon emissions by 20 percent by 2030 (compared to 2005 levels), introducing low-carbon industrial processes and building a zero-carbon fuel-supply system.
Meanwhile, Stolthaven Terminals’ focus on the digitization and automation of its terminals will bring increased innovation to the existing terminal industry in Taiwan.
“We are delighted with the addition of the SHRVK terminal to our global network, which enables us to increase the reach of the supply-chain solutions that we can offer our customers,” said Guy Bessant, president of Stolthaven Terminals. “The partnership also opens up Taiwan to our broad customer base and the integrated services we can provide in collaboration with our sister companies Stolt Tankers and Stolt Tank Containers. Together with Revivegen’s expertise and local knowledge, we will deliver a terminal that focuses on the safe and efficient handling and storage of chemicals and industrial gases for local and multinational companies. And we will use our experience in innovative sustainability projects to support Taiwan’s progress towards its carbon-reduction ambitions.”
Cheng Yu Chung, the chairman and general manager of Revivegen Environmental Technology Co. Ltd., added, “Establishing a joint venture with Stolthaven Terminals allows Revivegen to enter into the chemical-storage industry and gain more exposure to international business and digitization, which creates a win-win situation for both companies. This joint venture is also expected to elevate the status of Kaohsiung Port as a global storage and distribution hub.”