Solomon Associates has embarked on its 2010 Worldwide Liquid Terminals Performance Analysis (Terminals Study). This study enables terminal operators to identify performance gaps as a basis for improving reliability and operational cost allocations.

“More than 90 terminals entrust Solomon Associates with their most sensitive operational data, which the company uses to develop proprietary, confidential comparative analyses to help study participants accurately analyze their cost components in order maximize their tank integrity management programs and increase profits,” said Hank Brolick vice president of pipeline and terminal studies. “With strong growth in new construction over the past few years, the emergence of trading companies as terminal owners, and the use of marine vessels for alternative storage, terminal operators are seeking new efficiencies through systematically assessing and managing their cost contributors.”

Worldwide Liquid Terminals Performance Analysis (Terminals Study)

Since 2004, the world’s liquid terminals operators have relied on the Terminals Study to learn where their biggest performance improvement opportunities lie in both marine and non-marine operations and how to capitalize on these opportunities. For many terminals, the study identifies millions of dollars in annual margin improvement potential based on Solomon Associates’ proprietary gap analysis.

New Study Feature: Chemical Terminals

This study cycle, Solomon has added a new feature with the inclusion of chemical terminals. “We started this study looking only at petroleum product terminals,” said Brolick. “We have decided to widen our coverage to include chemical terminals to give more facilities the opportunity to participate in our performance improvement process regardless of the products they handle.”

Tags: Solomon Associates