Global supply chain management company Panalpina officially inaugurated their dedicated logistics facility for the oil and gas industry in Singapore.
Panalpina World Transport (S) Pte Ltd., the wholly owned Singaporean subsidiary of Panalpina World Transport (Holding) Ltd., will base the facility out of the high-tech hub, further strengthening the company’s industry-specific competence.
At the official launch, Karl Weyeneth, chief operating officer, Panalpina World Transport (Holding) Ltd said: “This state-of-the-art facility showcases Panalpina’s commitment towards the oil and gas industry in Singapore and beyond. We have a strong focus on the South East Asian markets and this new hub will support our global upstream network and connect the region with other major oil and gas centres in Houston, Aberdeen and Dubai. Singapore remains a key strategic centre for Panalpina to sustain our growing market share in the trans-Pacific route.”
Dr. Beh Swan Gin, managing director, Singapore Economic Development Board, said: “Panalpina’s investment in this dedicated oil and gas logistics facility is testimony to Singapore’s strong positioning as a strategic home-base for 3PLs to drive both business expansion and innovation in this region. We are delighted that Singapore is key to Panalpina’s plans in Asia.”
Freight volumes between Asia and the western world are also booming and intra-Asian trade is forecast to grow at a compound rate of 6.2%, according to the company. With the Singapore facility, Panalpina is positioning itself to capitalise on this growth potential.
The new built-to-suit oil and gas complex, located within the Loyang Offshore Supply Base, Singapore, offers 1,100 square metres of office space, a 7,000 square metres covered warehouse and 14,000 square metres of open yard space. It increases Panalpina Singapore’s total warehousing capacity to more than 30,000 square metres.
The facility also enjoys close proximity of the base jetty providing natural deep water conditions that facilitate the handling of floating installations and oilfield supply and service vessels.
The new facility will exclusively serve shippers from the oil and gas industry by offering Panalpina’s full portfolio of services including air, ocean and overland transportation management with a focus on the specific oil and gas trade lanes, charters, port agency for supply vessels and rigs, husbandry services, multimodal rig solutions, customs clearance, packing, warehousing, expediting as well as other related supply chain management solutions.
