PT Oiltanking and Matrix Global announce term auction for LSFO/HSFO storage capacity

In partnership with Oiltanking Karimun, Matrix has completed another successful auction for fuel oil storage capacity.

Richard Redoglia, CEO of Matrix Global Holdings and Matrix Auctions LLC said: “The market structure continues to evolve, adding pressure to the Midstream sector’s ability to price storage capacity. Matrix has teamed with Insights Global’s Tank Terminal’s extensive database to provide an online marketplace – Terminal Marketplace.”

He added: “The Terminal Marketplace streamlines what is currently a very time-consuming process. The energy markets are highly volatile, partly because of their ability to rapidly digest information and use it to alter the price and market structure.

“We have worked with terminal facilities and product owners to provide a robust transactional platform that addresses the concerns of all market participants.”

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