Category: Gripping Thoughts

Patrick Kulsen’s exclusive interview with Inspenet: a deep dive into Insights Global’s market expansion

We are excited to announce that Insights Global is featured in an exclusive interview with Inspenet. This interview provides an in-depth look at our strategic initiatives, market insights, and our plans for expanding our presence in the U.S. market. Learn from our experts as they discuss the future of the liquid bulk and terminal industry, and how our advanced data-driven solutions are shaping the landscape. Don’t miss this opportunity to gain valuable knowledge and stay ahead in the industry.

In this interview, Patrick, our Managing Director, delves into the evolution of our company from its European origins to becoming a global leader. He shares insights on our commitment to innovation, the challenges and opportunities in the liquid bulk sector, and our vision for the future. This candid conversation is a must-watch for anyone looking to understand the dynamics of the industry and how we are positioning ourselves to provide unparalleled value to our clients worldwide.

Watch the interview here.

The impact of changing supply and demand balances on tank terminals

Covid-19 also has effects on tank terminals: As soon as the true scope of the Covid-19 pandemic became apparent, the oil market shifted from a backwardated market into a deep contango. Needless to say, this contango immediately led to a significant increase in demand for tank storage.

As the world is slowly emerging from the Covid-19 pandemic, it is safe to say that the corona virus has had a profound impact on nearly every aspect of our daily lives. Besides the more visible effects on public health, society, and transportation, Covid-19 also sent a shockwave through the global economy.

This shockwave also had its effects on tank terminals: As soon as the true scope of the Covid-19 pandemic became apparent, the oil market shifted from a backwardated market into a deep contango. Needless to say, this contango immediately led to a significant increase in demand for tank storage.

The road less traveled?

The demand for road and jet fuels has been affected most by the Covid-19 pandemic. While the short-term effects of national lockdowns on demand for fuels are relatively straightforward (fuel consumption is strongly linked with people’s mobility patterns), it will be the longer-term effects that are the most interesting to keep an eye on.

Large corporations like banks, IT companies, and insurers are already preparing for a ‘new normal,’ where their staff will work more from home after Covid-19 than they did before (source). As people will commute less to their offices, a decline in overall car traffic volume could be expected. Together with the ongoing electrification of road vehicles, we expect that the current surplus for gasoline will increase further.

When we take a look at diesel consumption, reversed dieselization of passenger cars will lead to a faster decline than we will see for gasoline. That being said, because the electrification of trucks is not expected to happen in the coming years, there will still be a large volume of diesel consumption left. 

For jet fuel, we forecast that the current deficit for North-Western Europe will grow at a slower pace. While it is expected air travel will largely recover, analysts forecast it will take at least towards 2023 until air travel is back at pre-pandemic levels (source).

Electric vehicles

Over the past few years, the market for electric mobility has seen incredible growth. In 2019, the global electric car fleet exceeded 7.2 million, up 2 million from the previous year. With more and more electric car models being introduced to the market and charging infrastructure improving, this strong growth is only expected to increase. The IEA estimates that by 2030, there will be over 250 million electric vehicles (excluding three/two-wheelers) on the world’s roads. According to the IEA, the projected growth in the Sustainable Development Scenario of electric vehicles would cut oil products by 4.2 million barrels/day. (source)

While battery electric vehicles (BEVs) are considered the preferred solution for short-distance and light vehicles (passenger cars, delivery vans) because of their high energy efficiency, their batteries have a limited energy density compared to traditional fuels. This means that for vehicles with high power demands, such as ocean liners, long-haul trucks, and airplanes, batteries are highly impractical. 

Alternative fuels

With an energy density that’s comparable to fossil fuels, e-fuels and green hydrogen are poised to play a crucial role in our transition to sustainable mobility. E-fuels are produced by electrolyzing water, creating hydrogen and oxygen. While hydrogen gas in itself is an excellent renewable energy carrier, it can be synthesized further with carbon dioxide or nitrogen into more stable and easier to handle e-fuels. When using electricity from renewable sources and circular carbon dioxide (such as direct capture from the air), net emissions are close to zero.

While this process’s overall energy efficiency is lower than that of chemical batteries used in BEVs, the much higher energy density of e-fuels makes them much better suited for applications with high power demands, like shipping, trucking, and aviation.

Circular economy

As the call for reducing plastic waste gets louder and louder, the concept of circular economy is gaining traction. While the market for recycled plastics is growing rapidly and will have its effect on the demand for chemicals, it is not foreseen yet that consumption of virgin material will decrease the coming years.

What’s next?

It is clear that both the covid-19 pandemic as well as the transition to sustainable fuel sources will greatly impact the tank storage terminals. The market outlook for the oil and chemical industry will see significant shifts in supply and demand, while the Covid-19 pandemic only adds further complexities to the market. That’s why market intelligence should be on the radar of every terminal operator. During our regular Market Update webinars, we offer our expert outlook on supply, demand, and trade flows and their impact on tank storage demand.

Do you want to make sure that you never miss out on important market updates? Sign up for the next webinar today, so that you are better prepared for what tomorrow will bring.

5 New Growth Markets for Tank Terminals

In this blog, we will take a close look at five alternative fuel candidates that promise to change the tank terminal landscape as we know it today.

As the world slowly but surely is going into an energy transition, new growth markets for tank terminals are emerging. As the demand for traditional fuels as diesel and gasoline will decline in the coming decades, new liquid bulk alternatives are currently being developed to take their places.

In this blog, we will take a close look at five alternative fuel candidates that promise to change the tank terminal landscape as we know it today.

The road towards sustainability

To meet the ambitious goals set out in the Paris Climate Agreement, signatory governments have pledged to drastically cut emissions of CO2 and other greenhouse gasses and work towards a carbon-neutral economy.

In Europe, sectors like agriculture and industry have since made ample progress in cutting emissions. Yet the transport sector is lagging behind. Considering transport accounts for 23 percent of global CO2 emissions, significant efforts need to be made to reduce the environmental footprint of our trucks, boats, and airplanes. 

Thanks to advances in renewable energy sources, such as wind turbines and solar panels, we can generate vast amounts of energy in a sustainable way. The biggest challenge ahead of us is storing that energy for when it’s needed and carrying the energy to where it’s needed.

While battery electric vehicles (BEVs) are considered the preferred solution for short-distance and light vehicles (passenger cars, delivery vans) because of their high energy efficiency, their batteries have a limited energy density compared to traditional fuels. This means that for vehicles with high power demands, such as ocean liners, long-haul trucks, and airplanes, batteries are highly impractical. 

Future Fuels

With an energy density that’s comparable to fossil fuels, e-fuels and green hydrogen are poised to play a crucial role in our transition to sustainable mobility. E-fuels are produced by electrolyzing water, creating hydrogen and oxygen. While hydrogen gas in itself is an excellent renewable energy carrier, it can be synthesized further with carbon dioxide or nitrogen into more stable and easier to handle e-fuels. When using electricity from renewable sources and circular carbon dioxide (such as direct capture from the air), net emissions are close to zero.

While this process’s overall energy efficiency is lower than that of chemical batteries used in BEVs, the much higher energy density of e-fuels makes them much better suited for applications with high power demands, like shipping, trucking, and aviation.

Methanol

Feedstocks for methanol are green hydrogen, CO2, and electricity. Traditionally, these kinds of synthesizing processes use fossil fuels for their CO2 source, but they can be made almost carbon neutral by capturing the CO2 from the atmosphere. 

As methanol is a liquid and does not need to be compressed or chilled for storage and transport, it’s very suitable as a fuel. The energy density of methanol is relatively low compared to E-diesel and E-kerosine. Still, from an economic point of view (cost per GJ fuel energy), methanol has a lot of potential as a fuel for shipping and trucking operations.

E-Diesel

Like Methanol, E-diesel is also produced from green hydrogen and CO2. A Fischer-Tropsch process is required for the synthesis, with an efficiency of up to 69%. Like methanol, e-diesel is easily stored and transported. No modification is needed for existing diesel vehicles, making e-diesel an excellent replacement for fossil diesel applications.

Ammonia

Synthesized ammonia (NH3) consists of green hydrogen and nitrogen extracted from the atmosphere. The synthesis of hydrogen and nitrogen takes place in a Haber-Bosch reactor and can achieve yields of up to 70%.

Production of ammonia is relatively straightforward and easily scalable, but it has to be stored and transported under either cooled or compressed conditions. This requires relatively large tanks, making ammonia only a feasible option for large ocean-going vessels.

E-Kerosine

With a similar process to E-diesel, E-kerosene is produced by combining hydrogen and CO2 through a Fischer-Tropsch synthesis. Compared to other e-fuels, synthesizing e-kerosine is quite expensive. Still, its high energy density and compatibility with existing jet engines make it the only viable e-fuel for aviation.

(Green) hydrogen

Green hydrogen (H2) is made by electrolyzing H2O (water) using green electricity. As electricity is the ‘main ingredient’ of green hydrogen, it’s an excellent energy carrier to store excess energy production from renewable sources like solar and wind. This way, hydrogen gas can act as a ‘battery’ to store electricity production during off-peak hours (let’s say, a windy and sunny Sunday afternoon). 

Because storage and transportation of hydrogen must be done either compressed or cryogenic, it is less suitable for long-haul transport applications like oceanic shipping. However, as green hydrogen is a key feedstock for other e-fuels, its importance to future supply chains for renewable fuels cannot be understated.

What’s next?

It is clear that the transition to sustainable fuel sources will greatly impact the tank storage terminals. That’s why market intelligence should be on the radar of every terminal operator. During our regular Market Update webinars, we offer our expert outlook on supply, demand, and trade flows and their impact on tank storage demand. 

Do you want to make sure that you never miss out on important market updates? Sign up for the next webinar today, so that you are better prepared for what tomorrow will bring.

5 Reasons you should invest in a tank terminal

Is investing in a tank terminal something you should consider? While in most cases the answer will be a sounding ‘yes,’ it will pay dividends to first learn more about the exciting world of tank terminals. Let’s take a look at the top 5 reasons why you should invest in a tank terminal.

We often see investors flocking to lower-risk investments during economic uncertainty, such as government bonds, real estate, and infrastructure. Therefore, it’s hardly surprising that we are seeing a significant uptick in interest for tank terminals investments.

Is investing in a tank terminal also something you should consider? While in most cases the answer will be a sounding ‘yes,’ it will pay dividends to first learn more about the exciting world of tank terminals. Let’s take a look at the top 5 reasons why you should invest in a tank terminal.

1. Tank terminals have typically always been a very profitable industry, with high return of investments and a low-risk profile

When we take a look at the profitability of tank storage companies over the past decades, they show in general very positive numbers. For example, Vopak, the worldwide market leader in tank terminals, has consistently demonstrated high EBITDA and EBIT percentages over the last 15 years; an excellent track record that most companies from other sectors can only dream of.

2. Tank terminals benefit from gross trade and product imbalances

As our national economies become more intertwined, gross trade keeps growing consistently. For some sectors, this increased gross trade and consequent product imbalances cause challenges. Because tank terminals are key in facilitating gross trade and correcting product imbalances, an increase in gross trade actually presents new business opportunities.

3. By using tank terminals as ‘forward stocking’ locations, products owners can save a considerable amount of supply chains costs

Tank terminals are not just about storage; smart product owners know that they can also leverage them as forward stocking locations.

Let’s say there is a South African refinery that has contracts in place with 20 European customers, selling them 10 tons of product per year each. The refinery could choose to ship 20 times 10t of product from South Africa to its individual customers in Europe. However, a smart product owner will ship the 200t of products to Europe in a single load, rent a tank in the region, and distribute the product when the customers need it. The cost advantage of the second option is huge; keep in mind that vessel costs are much higher than storage costs.

As pressure on supply chains to become more efficient is constantly rising, this forward stocking function of terminals will only become more important in the future.

4. As GDP is expected to keep on growing, it is also likely that gross trade keeps on growing

Historically speaking, there has always been a strong correlation between GDP and gross trade. If we take chemicals as an example, we have seen that historical chemical consumption growth percentages routinely exceed the GDP growth percentages. The main reason is that chemicals are heavily integrated into our daily lives and that chemicals have replaced other materials like wood, steel, paper, and glass.

5. Tank terminals are part of the supply chain of different value chains, like oil, gas, chemicals, and vegetable oils.

The location of a terminal is a very critical factor in determining the attractiveness of a terminal; if a terminal is located close to the sea is on average more attractive compared to more inland located terminals, as it saves time from marine vessels’ perspective and larger vessels can access the terminal.

What’s next?

These top 5 reasons are just the start. To become a successful investor in the tank terminal industry, there is still much more to learn. 

Download our whitepaper “What you must know before investing in tank terminals.”

Download here

5 biggest pitfalls to burn money in tank terminal investments

The tank terminal market is very fragmented, with more than a thousand terminal operators and five thousand terminals worldwide. Furthermore, the market dynamics these terminals operate within can be quite complex, making it hard for investors to assess the true value of a prospective asset. In this blog, we’d like to present you with the 5 biggest pitfalls to burn money in terminal investments.

Tank terminals are considered infrastructure assets with a low-risk profile that generate stable revenue streams. Therefore, it’s hardly surprising that we see a significant uptick in interest for tank terminals investments during these uncertain economic times.However, we have also seen even seasoned investors getting lost in the world of tank terminals.

The tank terminal market is very fragmented, with more than a thousand terminal operators and five thousand terminals worldwide. Furthermore, the market dynamics these terminals operate within can be quite complex, making it hard for investors to assess the true value of a prospective asset.

In this blog, we’d like to present you with the 5 biggest pitfalls to burn money in terminal investments. 

1. Lacking knowledge

When assessing the market worth for a tank terminal, only looking at the bottom line will not be enough. Competitive value comes from collecting and understanding data on a terminal’s location, infrastructure, activity level, et cetera. 

That’s why it’s key to get access to industry-specific knowledge and get a complete picture of the asset you are interested in.

2. Paying a price which is too high

Given the complexity and dynamic of the Tank terminal industry, make sure you have a solid understanding of the key performance indicators of the terminal. What are the throughput levels? What are excess throughput levels? How are contracts being structured? What are the occupancy rates of the jetties?

Only if and when you partner with an advisor who understands the industry and will provide you with the essential and detailed insights, you can build your investment case and valuation model, minimizing the risk of bidding too high.

3. Lacking an exit plan

Even though this is true for all sorts of investments, you’ll need to pair a sound investment plan with a solid divestment strategy. Knowing when to sell is just as valuable as knowing when to buy. When market dynamics are changing and divestment of your assets is the smart move to make, a solid exit strategy is invaluable when it’s time to act.

4. Low probability of winning the bid

Being a successful investor is not only about being able to identify a good investment opportunity; it’s also about knowing when to pass on a bid. 

If there is too much competition or if you expect you will be willing to pay the expected price, it is better to exit the process at an early stage. By using a phased approach, you’ll never end up investing a tremendous amount of time and money on a bid that would never be successful.

5. Expecting high returns for low-risk investment

You can’t have your cake and eat it, too. While investments in infrastructure assets like storage terminals are often a great addition to your investment portfolio, be sure to have realistic expectations of your return on investment. While it may seem a bit ‘boring’ in the world of stock shorting, high-frequency trading and venture capital, investing in tank terminals is considered a low-risk investment with respectable returns.

What’s next?

Now you know what you shouldn’t do, you might want to know what you should do to become a successful investor in the tank terminal industry. 

Download our whitepaper “What you must know before investing in tank terminals.”

DOwnload here

Agidens on leading in technology

Welcome to “GRIPPING THOUGHTS”, the space created by Insights Global where Clients, Partners and Friends are invited to share ideas and insights that help shedding light on the challenges that the Oil & Gas industry faces in the near and long future.

So join us, read and get inspired by our talk to Mr. Koen Algoet – Product Manager Terminal Solutions – and Mr. Kevin Pluvier – Project Manager Oil & Gas – at Agidens, a solutions provider with a workforce of over 600 people that for more than 70 years has been helping companies in various sectors to improve their operations in the areas of security, reliability, efficiency and sustainability.

Q: How would you describe the main market challenges at the present time?

In our view, the tank terminal market presents two main challenges.

The first is linked to Operational Excellence. Due to backwardation and the new capacity added in recent years, it is correct to expect a surplus of storage capacity that will increase the competition even more and leave profits under stress.

In this environment, there will be a high demand for improved, more efficient processes to guarantee full usage of the existing assets. A good example of how this can be realized is Agidens’ Axcel® smart slot booking solution. Due to increasingly bad traffic conditions, it is very common that trucks don’t make their schedules leaving terminals with empty slots and the necessity to reserve ‘late arrivals’ slots which reduce the normal asset capacity. Axcel® doesn’t use and thus ‘waste’ these empty slots but relies on the smart engine to recalculate updated planning scenarios keeping all available assets and resources into account.

The second challenge is linked to Human Resources. Nowadays there is a high workforce turnover in the industry, as a result of several reasons, among them the fact that young people don’t want to stay in the same job and activity for a long time anymore. The time and energy that is needed to train new employees into working with these manual procedures could be invested in automation. Furthermore, in order to attract and retain young people we can assume that automated terminals will have preference to manually operated terminals as an employer.

Q: And how do you see the industry evolving in a period of 5 to 10 years? What are the main challenges ahead of us?

As it was said before, due to the high competitiveness of the market there will be a growing pressure on the terminals in terms of operational excellence, but also to cope with the speed of innovation.

Even though there is a lot of interest in Artificial Intelligence, the focus in the next years will be on Big Data and in learning how to transform what is generated and collected by sensors – as a consequence of the development of the IoT – into knowledge.

Agidens understands the necessity to foster the development of specialists that can handle this new scenario that encompasses themes as cyber security, GDPR, new standards and regulations, and questions on how to communicate data between all the different networks, how to set up this data and how to do it in a secure, safe and controlled way.

Agidens embraces the proposition of sitting with the client to understand his problems and ‘pains’ in a consultative approach. So that the people involved in the project can take over and develop the product based solutions keeping a vision of the future time and not only the present.

At last, it is important to mention that no matter how much of a terminal’s management moves to the cloud, all that is related to safety must remain local.

Q: How is Agidens getting prepared for these future challenges?

Agidens understands that innovation is essential to offer competitive solutions to its clients, therefore we give special attention to this theme and how to accelerate its pace. We believe that if we expect to be ready for the challenges of the next ten years we must act today. First, by keeping a close relationship between our R&D department and universities as Leuven, Antwerp and Ghent. Second, by creating a culture and atmosphere that encourages our employees from different areas to voice their ideas and by granting time, budget and guidance from R&D for them to be developed.

As an example, at Agidens as soon as young engineers are hired they have the opportunity to be in direct contact with clients, especially with people who work on the field and experience the day to day challenges.

Agidens’ Atalk® solution is an excellent example of a product that was proposed by one of these young talents. While on the field, he noticed that there was a dangerous gap between the moment that a potentially dangerous event started – a fire, for instance – and the moment this information was passed to the personnel at the terminal. So he proposed a system that translates the usual text messages installed upon an existing operational control system such as SCADA or DCS into speech, in a way that now they can be transmitted by voice directly to the walkie talkies of all the employees around the terminal.

At last, it is important to give people time, support and a lot of training to be able to cope with the transformation speed of the industry.

PS: if you want to contribute to “Gripping Thoughts” please send an email to acavalcanti@insights-global.com

Find here other “Gripping Thoughts” articles:

Read now the interview with Bertrand Chupin, VP of the Loading Systems business unit of TechnipFMC, a global leader in subsea, onshore/offshore and surface projects, with about 37,000 employees.

What technology area do you expect to be a game-changer?

Welcome to “GRIPPING THOUGHTS”, the space created by Insights Global where Clients, Partners and Friends are invited to share ideas and insights that help shedding light on the challenges that the Oil & Gas industry faces, in the near and long future.

So join us and get inspired by IVAR BERNTZ, Research Analyst in the Cross-Industry and Advanced Manufacturing Group at GARTNER :

“Gartner recently released the results of their 2019 CIO Survey Oil and Gast Industry insights , based on 84 responses out of the 3,102 overall respondents from 89 countries. Let us discuss two of the questions posed, namely: 1) What is your organization’s top priority for 2018/2019? and 2) What technology area do you expect to be a game-changer for your organization?

Through 2018 oil and gas firms have made continued significant progress improving efficiency. With improving balance sheets and leaner operations, it is unsurprising that oil and gas executives are strongly focused on revenue and business growth as their top priority, as stated by 28% of the respondents. Caution, however, is still in evidence since the recovery is recent and market conditions remain volatile. Operational excellence  provides a relatively low-risk route to growth and profitability and is the priority for 26% of respondents.

Oil and gas company executives, senior leaders and functional managers are embracing digital. This year 22% of survey respondents rated it as top priority, compared with only 8% last year. Recognition of the capacity of digital innovation to both optimize and transform business models has crossed a tipping point in the industry, significantly elevating digital as a priority. Nevertheless, companies in most other industries are more likely to prioritize digital, a sign that traditional oil and gas industry inertia has not disappeared. Progress may be rapid by oil and gas standards but is only just keeping pace with trends outside the industry.

The oil and gas industry’s striking enthusiasm for analytics continues unabated, with 44% of oil and gas CIOs expecting data analytics to be the top game-changing technology  for the industry this year — double the percentage across  industries. Despite occasional mixed results and scepticism of vendor promises, analytics has gained widespread acceptance based on multiplying use cases and demonstrated value. As digital ambitions intensify, analytics is consistently prioritized by oil and gas leadership seeking proven ways to derive business value from digital technologies.

The greatly elevated priority of the IoT is new, with 24% of respondents now identifying it as a game-changing technology compared to 8% last year. As companies deal with existing inefficiencies, continued pursuit of operational excellence demands new strategies to improve asset performance, driving greater use of analytics for simulation and prediction of future behaviour. Analytics’ focus also shifts from reactive modelling offline to nearer real time. IoT offers advantages in data collection and system responsiveness over legacy systems to support this. However, cost-benefit considerations have so far acted as a brake on adoption, especially on mature assets. With renewed business growth the comparative advantages (and increasing cost-effectiveness) of IoT promise performance differentiation that will accelerate take-up.

A stark difference between oil and gas and all industries is apparent in artificial intelligence/machine learning. Across all industries, artificial intelligence/machine learning is ranked as the No. 1 game-changing technology across all three categories of performers, with 40% of top performers placing it at the top. While it is the third-most-cited, game-changing technology in oil and gas, only 21% of industry CIOs rate it as the top technology.

In part, this reflects the natural mistrust of the industry to hyped technology. Many oil and gas operators are still exploring ML and AI use cases and have yet to operationalize it. Understanding is more concrete for other technologies today, which — given the asset-centric nature of the business — are also expected to deliver significant value leading to a more even spread of expectation. Nevertheless, the growth of AI and ML, along with the elevation of IoT, indicates a shift in focus in the industry toward greater real-time connectivity and prediction for asset optimization.

Given this background, what do you believe will be your organization’s top priority for 2019 and what technology will be a game changer to accomplish it?”

PS: if you want to contribute to “Gripping Thoughts” please send an email to acavalcanti@insights-global.com
Find here other “Gripping Thoughts” articles:

Read now the interview with Bertrand Chupin, VP of the Loading Systems business unit of TechnipFMC, a global leader in subsea, onshore/offshore and surface projects, with about 37,000 employees.

Bertrand Chupin on The Challenges Ahead

Welcome to “GRIPPING THOUGHTS”, the space created by Insights Global where Clients, Partners and Friends are invited to share ideas and insights that help shedding light on the challenges that the Oil & Gas industry faces, in the near and long future.

So join us, read and get inspired by our interview with BERTRAND CHUPIN, VP of the Loading Systems business unit of TechnipFMC, a global leader in subsea, onshore/offshore and surface projects, with about 37,000 employees.

Q:Bertrand, how would you describe the main market challenges at the present time?

The market has drastically and irreversibly changed over the last 5 years. Terminal owners are expecting vendors to significantly reduce equipment CAPEX. In addition, with fewer investments moving forward during this period of time. Competition has been and remains highly aggressive, pushing vendors to find innovative solutions to reduce costs. Also, once the investment decision is made, clients want their projects faster demanding shorter lead times. Finally, buyers are looking for first-class service, fast availability of spare parts, fast mobilization of site engineers and lower OPEX.

Q:And how do you see it evolving in a period of 5 to 10 years? What are the trends and challenges ahead of us?

Although the market and our clients significantly reduced investments during the last five years, we have observed signs of recovery in the last few months. Deep cost reductions have enabled projects that were otherwise unprofitable without compromising safety and quality standards.

It is also likely that automation and unmanned operations will be further developed in the future to address OPEX challenges. In addition, operational and maintenance are currently being studied and implemented.

Finally, a few new market segments are coming along, specifically those linked to the usage diversification of LNG (Liquefied Natural Gas). New regulations imposing significant reductions of CO2 and NOx emissions for maritime transportation are opening new opportunities to LNG by replacing conventional HFO (Heavy Fuel Oil) and maritime diesel. New infrastructure and value chains are being developed to allow this conversion providing new applications to loading systems manufacturers.

Q:At last, how is TechnipFMC getting prepared to these challenges that the future post?

TechnipFMC has reduced costs through improved execution and standardization. Always thinking about the future, TechnipFMC’s Loading Systems division maintained the same level of investment in R&D over the last few years to provide the industry with breakthrough technologies such as a full electric loading arm that replaces the conventional hydraulically-powered one and significantly reduces OPEX to provide our clients with greener offloading solutions.

Services is also an area of focus: reducing inspection and maintenance cost by using drones is, for instance, one of the new services offered by TechnipFMC. A new strategy on spare parts management has also been implemented to provide our clients with critical spare parts in a shorter delivery time.

Finally, the recent merger opens doors to the flexible hose technology through Coflexip™. The adoption of flexible solutions is expanding within offloading applications and make TechnipFMC the sole loading systems manufacturer with the ability to provide both rigid articulated pipe and flexible hose solutions.

PS: if you want to contribute to “Gripping Thoughts” please send an email to acavalcanti@insights-global.com

Find here other “Gripping Thoughts” articles:

Read now the interview with Mr. Koen Algoet – Product Manager Terminal Solutions – and Mr. Kevin Pluvier – Project Manager Oil & Gas – at Agidens, a solutions provider in the areas of security, reliability, efficiency and sustainability.