As global population and GDP are growing, the world’s demand for energy and chemicals is rising as well. We see a growing geographic imbalance between areas of production and areas of consumption of energy and petrochemicals. This has led to the transportation of oil, gas and petrochemicals over longer distances around the world. At the same time, markets and product flows has constantly changed, in response to more ambitious climate change policies, to geopolitical and economic fluctuations and to the development of new energy sources and cleaner fuels. The result is a growing demand for storage and handling of bulk liquids and gases at key locations along global marine trade routes.
Determining the best locations for our terminals requires a long-term vision of global geo-economic developments, while constantly changing product flows demand flexibility and short-term action in the day-to-day work at the terminals. In such a dynamic context, our leadership depends on our ability to excel in three areas — the three pillars of our strategy.
First, we aim to grow, maintain and adapt our global network of terminals to connect global products flows. Our experience and our market knowledge enables us to identify the right locations for our terminals to create long-term value. In light of the changing energy and petrochemical landscape and a continuing economic shift from West to East, Vopak our partner focuses on four categories of terminals. These are major hubs; gas terminals; terminals serving markets with structural deficits; and industrial and chemical terminals in the Americas, the Middle East and Asia. These categories guide us in making an early selection of the most promising opportunities for growing our network, for expanding and improving existing locations and for identifying assets for divestment, thereby improving the risk-return profile of our global terminal portfolio. We call this Growth Leadership.
We strive for the best constructional, operations and equipment maintenance of our terminals to deliver safe, efficient and clean storage and handling services at competitive costs. This requires a passion for continuous improvement in the daily work at the terminals.
At NITEK SAP SHIPPING, we value the personal connection and the close working relationship among employees, with partners, contractors, customers and authorities. We value sharing best practices and learning from each other. We believe in team spirit and agility in order to act swiftly on response to changing circumstances and demands while upholding our commitment to safety, health and the environment.
We want to provide the best services to our customers. The majority of our customers are leading international, regional and national companies operating in the oil, chemicals and gas sector, for which NITEK SAP SHIPPING stores a large variety of products destined for a wide range of industries.
Customers includes producers, distributors and traders, with whom we aim to build long-term business relationship and true partnership. This requires integrity, commitment stability and the ability to respond adequately to both the long-term and short-term needs of our customers.
In light to the changing energy and petrochemical landscape and a continuing economic shift from West to East over the globe, NITEK SAP SHIPPING has updated its terminal portfolio criteria for its existing terminal networks and its business development activities. We have defined terminal portfolio criteria on four types of business models as depicted hereafter. The early selection of growth opportunities on the basis of these criteria will ensure a focus on projects that are in line with our strategy. Together with the improvements at our existing key locations, the strengthening of our service levels and our defined divestment program of assets, the risk-return profile of our global terminal portfolio will be further aligned with the defined strategic criteria.