Seen alongside at Kinder Morgan’s Westridge Terminal last week is the Medium Range (MR) oil/chemical tanker Torm Amalie, having delivered a cargo of aviation fuel destined to keep the wheels turning at Vancouver International Airport (YVR). The Trans Mountain Jet Fuel pipeline system carries fuel from the Chevron refinery, and the Westridge terminal to YVR via a 41km pipeline system that has been in operation since 1969. It includes five storage tanks at YVR with an overall volume of 7155 cbm. Pipeline capacity is supplemented by around 1,000 tanker truck deliveries of jet fuel to YVR each month from Washington State, each truck travelling about 140 km round trip per delivery.
Built by Guangzhou International Shipyard, PRC
Owned by Torm Shipping, Singapore
Managed by Torm Shipping, Mumbai, India
GRT 30,241 tons
DWT 49,999 MT
Without a new jet fuel delivery system, the number of trucks required to keep the airport moving was projected to rise to more than 3,000 a month within 20 years. For this reason Vancouver Airport Fuel Facilities Corporation (VAFFC), a consortium owned by most of the major airlines serving YVR, is building a new fuel delivery system based on the construction of a new marine terminal and tank storage farm storage on the South Arm of the Fraser River which will be connected by a 13 kilometre underground pipeline to YVR. Following detailed consultations lasting more than a decade, in December 2013 the project received an Environmental Assessment Certificate from the B.C. government and an Environmental Decision Statement from VFPA allowing the project to continue to permitting. The permits are required from VFPA, the BC Oil and Gas Commission and local governments before construction can proceed. Unfortunately this has not been a smooth process on account of the City of Richmond taking every opportunity to stall the project, having opposed it in principle from the outset.
The map above left shows the route of the current underground delivery system to YVR and above centre, an artist’s impression of the new terminal to be built of the Fraser River. The terminal is designed to accept fuel barges but also tankers up to Panamax in size. The map above right shows the routing of the new underground pipeline from the Fraser River to YVR.
TORM plc was founded in Copenhagen in 1889 by Captain Ditlev Torm and Christian Schmiegelow. Today, TORM describes itself as a pure play product tanker company and one of the world’s leading carriers of refined oil products such as gasoline, jet fuel, naptha and diesel oil. The company is listed on Nasdaq Copenhagen and on NASDAQ in New York with offices located in Copenhagen, Houston, London, Manila, Cebu, New Delhi, Mumbai and Singapore. In 2015, the company underwent extensive financial restructuring including a recapitalizing of its balance sheet by reducing the existing debt worth up to USD 561 million. As part of the restructuring, OCM Njord Holdings, a wholly owned subsidiary of entities owned by Oaktree Capital Management, contributed a fleet of 25 in service and six newbuilding product tankers to the enlarged group. This has resulted in the creation of one of the largest owner-operators of product tankers with a portfolio of 74 owned product tankers including LR2, LR1, MR and Handysize vessels. The company also has 2 x LR2 tankers scheduled for delivery this year, 2 x LR1 and 4 x MR for 2019.
See the company’s 125th anniversary video https://www.youtube.com/watch?v=HCKXlUkcBb8