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Vopak Reports Higher Profits on Firm Demand and Increased Capacity

7:00 AM MST | November 9, 2011 | Ian Young

Tank storage market leader Vopak reported a 6% increase in third-quarter 2011 operating profits excluding exceptional items, to €121 million. Ebitda grew 6% year on year, to €163 million. Sales were not disclosed. Average occupancy rates at Vopak's terminals worldwide were 93% in the third quarter, up from 92% one year earlier. Vopak's higher profits reflect mainly the opening of new storage capacity and higher demand, the company says. Vopak's overall capacity increased by 1.7 million cu meters in the third quarter, to 27.2 million cu meters. Projects...

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