Odfjell Terminals (Korea) Co. Ltd – OTK – is a joint venture with KPIC. OTK started operations in 2002. It has become a state of the art terminal for storage and distribution of petrochemicals.
Strategically situated in the port of Ulsan, the terminal is perfectly positioned to serve as a distribution hub for China, Taiwan, Japan and Korea.
The terminal was built and equipped to meet Odfjell’s high safety and environmental standards. OTK operates 70 tanks. Tank sizes range from 550 to 9 990 cbm. As a result of the buoyant demand for tank storage in the region, OTK completed an expansion program of 79 920 cbm in August 2009, raising the total capacity of the terminal to 250 590 cbm. The terminal has a total of 15 860 cbm stainless steel tankage, spread over 11 tanks ranging from 550 to 2 200 cbm.
In March 2010 OTK received the approval for a further expansion of the terminal. This project involves the construction of 15 new carbon steel tanks with a joint capacity of 63 120 cbm. OTK expects the expansion to be completed by Q3-2011.
To serve incoming and outgoing ships, OTK makes use of two berths with 37 ft depth. OTK has access to two further berths through a user agreement. The latter berths have a depth of 44.3 ft and can accommodate vessels up to 80 000 DWT. Road tank trucks and iso-tank containers are handled at OTK’s 15 loading bays. OTK also offers comprehensive drum filling and container stuffing services. OTK was rewarded The Korea Safety Award in 2007.