Matrix and TankTerminals.com Team Up to Launch Digital Terminal Market Place to Transact for Storage Capacity
Matrix Terminal Marketplace (“Matrix”) and Insights Global are proud to announce that they have entered into a Memorandum of Understanding to integrate Matrix’s Terminal Marketplace System and Insights Global’s TankTerminals.com data services to create an electronic platform for the purchase and sale of storage for crude oil, refined products, and other bulk liquid commodities.
The Terminal Marketplace System is an innovative electronic platform that allows customers to offer, purchase and sell liquid bulk storage and related terminal services. Insights Global has developed TankTerminals.com, the preeminent database for bulk liquid storage, which currently provides in depth information on over 6,750 storage terminals worldwide.
By integrating Matrix’s Terminal Marketplace System and Insights Global’s TankTerminals.com, customers will be able to use a single electronic platform to (i) efficiently offer, purchase, and sell storage and related terminal services for crude oil, refined products and other bulk liquid commodities at any storage facility in the world, and (ii) seamlessly access data for any storage facility. The acceleration in the flow of information during the last five years has increased the complexities of purchasing and selling storage for crude oil, refined products and other bulk liquid commodities.
By creating a one stop location to analyze, compare and transact for liquid bulk storage worldwide in real time, the new platform will provide customers with a more efficient way to purchase and sell storage. The Terminal Market Place is planned to be launched through TankTerminals.com in the third quarter of 2021.
Matrix is a provider of transaction services for the liquid bulk midstream sector. In addition to developing and operating the Terminal Marketplace System, Matrix and its affiliates developed the first derivatives for oil storage capacity, in the form of a storage futures contract and physical forward contract for oil storage capacity at the Louisiana Offshore Oil Port (LOOP). We have followed-up that success with storage auctions in Cushing Oklahoma, Copenhagen Denmark, Saldanha Bay South Africa and recently announced Karimun Indonesia. Over the last six years, we have sold over 520 million barrels of oil storage capacity.
About Insights Global:
Insights Global is a provider of market intelligence for the liquid bulk industry. Its mission is to reinforce transparency in energy and chemicals markets. We believe that improved market transparency and related foresight will support players in making intelligent decisions and our activities are aimed at providing insights via valuable data, tools, analytics, advice, and knowledge.For more information please contact:
Matrix Terminal Marketplace
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