What were Vopak’s focus areas over the last few months?

In 2023, Vopak worldwide has made significant progress towards its strategic goals. This includes improving financial and sustainability performance, expanding presence in gas and industrial terminals, and transitioning towards new energies and feedstocks. Notable global achievements include a strategic green field export terminal in Northwest Canada for LPG and growth in LPG storage in India. These milestones align with Vopak’s broader target of investing EUR 1 billion to expand its industrial and gas terminal footprint by 2030.

In Brazil, we have repurposed some of our existing capacity to store renewable feedstocks, where we hold a dominant market share in heated capacity to handle bio-based feedstocks like animal fat, used cooking oil, among others. We are committed to advancing this initiative further.

Can you discuss how Vopak is improving its terminal in Alemoa?

Over the past years, we have been working on increasing the storage capacity of the Alemoa Terminal. The commissioning process is expected to be completed by the end of 2024. This expansion, combined with the one completed in 2020, has increased the terminal’s capacity by 70%. Our future plans include expanding storage capacity for renewable feedstocks, second-generation ethanol, among others. One of our major upcoming projects is to introduce rail access at the Alemoa Terminal for the first time, a project being developed with other players of the port. This is expected to significantly impact the liquid market in Brazil and is projected to be fully operational within the next three to five years.

Could you explain how Vopak stays ahead regarding technology with some examples?

We are always looking to incorporate cutting-edge technology into our operations. To achieve our goal, we focus on developing sustainable terminal infrastructure, investing in environmentally sound technologies, and digitally transforming our company. Our design process incorporates new digital technologies and emphasizes selecting the right materials for longevity. We also introduce technology to identify and prevent risks earlier, enabling remote work and reducing potential risks for employees and contractors.

Two notable achievements include the development of Vopak’s operational system in-house, known as MyService, and a recent pilot project with Google to leverage their AI software. MyService is now used in most of our terminals globally, while the AI project aims to improve decision-making and enhance proactive measures in the field.

How has the “Go Alemoa Go” project impacted the lives of young people near Alemoa?

The Vopak WeConnect Foundation promotes volunteering in Vopak communities to create a better future for young people. We empower young individuals, encourage collaboration, and support projects aligned with Vopak’s sustainability roadmap to make local communities more sustainable.

In Brazil, it is embodied by the “Go Alemoa Go” initiative, which aims to empower young people by connecting them to the world through education and skill-building programs they would not normally have access to. One of the communities we support is Vila Alemoa, next to our terminal, where we provide practical knowledge and opportunities for their residents through structured events and training sessions. For instance, we partnered with a professional photographer to teach photography to aspiring local artists. Today, some young photographers are hired to cover our events, turning a simple workshop into a potential career path.

How would you describe Vopak’s forward-looking approach?

Vopak will continue to focus on its strategic priorities, which revolve around improving financial and sustainability performance, expanding its industrial and gas terminals, and transitioning towards new energies and sustainable feedstocks.

In Latin America, there is significant potential for green ammonia and hydrogen projects. This is due to the region’s favorable climate, strategic location, and Vopak’s more than 20 years of experience in storing ammonia at six locations around the world. However, the full-scale development of these projects will depend on market demand. Currently, we are closely monitoring Europe’s progress in driving these initiatives. Vopak is preparing to take action when the timing is right, especially in countries like Chile and Brazil, where we are actively engaging with stakeholders and governments.

Given the growing world population and the need for decarbonization, we anticipate increasing demand for our independent infrastructure solutions. With our unique global network of strategic locations, highly skilled personnel, and long-term partnerships, we will continue to transform our portfolio to position our company for the future.