Oystercatcher is the holding company through which 3i Infrastructure holds a 45% interest in Advario Singapore Limited (previously Oiltanking Singapore Limited). 

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Overview

Advario Singapore is a 1.3 million cubic metre facility focused on storage and blending of refined clear petroleum products for a range of blue chip customers. 

Why we invested

With a premier location, on Jurong Island, the company is accessed by pipeline, sea going vessel and barge. Oiltanking is one of the world’s leading independent storage partners for oils, chemicals and gases, operating 41 terminals in 18 countries with a total storage capacity of 16 million cubic metres.

Recent developments

Oystercatcher’s 45%-owned terminal, Advario Singapore (‘ADS’), delivered a strong performance during the year, materially exceeding expectations. Elevated levels of customer activity drove higher revenues from throughputs and provision of ancillary services, supplementing the bulk of revenues which are derived from take-or-pay storage contracts. Contract renewals secured in 2025 were agreed at higher storage rates and with longer tenors than the prior year, reflecting robust demand for ADS’s gasoline storage and blending capabilities.

Market conditions in Singapore remain favourable, with limited uncontracted storage capacity across the sector. The strength of the market is underpinned by the Asia-Pacific region being in a structurally short position in gasoline, as regional refining capacity is insufficient to meet the region’s growing demand. This structural imbalance is expected to persist in the medium to long term.

Since May 2023, ADS has also been active in the storage and blending of sustainable aviation fuel (‘SAF’) for supply to local markets and for export further afield. Policy developments in Singapore are supportive for the ongoing development of the SAF industry in Singapore with the announcement by the Singapore Government of the introduction of a SAF levy on air fares for flights departing Singapore from January 2027. The company is actively engaging with customers to support their renewable fuel strategies and to capture further opportunities in the energy transition.