We act as your authorised storage agent — coordinating terminal capacity, managing custody transfers, and providing full documentation for petroleum products held in storage worldwide.
What is a Storage Agent?
In the petroleum trade, a Storage Agent is the entity formally appointed to manage petroleum products held in a third-party terminal on behalf of the product owner. The agent coordinates with the terminal operator, arranges independent gauging inspections, manages documentation, and authorises product releases — acting as the accountable representative for all in-storage activity.
We source and coordinate available storage capacity at petroleum terminals worldwide — including land-based tank farms, port terminals, and inland depots. Allocation is confirmed by tank inspection certificate and terminal agreement prior to cargo arrival.
As Storage Agent, we oversee the formal handover of product custody at terminal receipt and at release — coordinating between terminal operators, independent inspectors, and both buyer and seller to ensure metered or gauged quantities are agreed and documented.
We appoint and supervise independent gauging inspectors to conduct manual or automatic tank gauges, ullage measurements, temperature readings, and API gravity sampling at receipt, during storage, and at product release. All figures are corrected to 15°C standard volume.
Each product grade is allocated to a dedicated, pre-inspected tank that has been confirmed clean, dry, and free from prior-product contamination. We coordinate pre-storage tank inspections and ensure line flushing procedures are followed to maintain product integrity throughout storage.
For transit cargoes, re-export consignments, or products awaiting destination confirmation, we arrange bonded storage in customs-supervised terminals. This defers import duty and VAT obligations while the cargo is in transit — critical for trading operations and optimising working capital.
We issue and collect all terminal documentation: terminal receipts (TR), certificates of quantity (CoQ), stock position reports, tank dip sheets, release orders (RO), and storage agreements. Buyers receive regular inventory status updates throughout the storage period.
The product owner or trading counterparty formally appoints New Horizon as Storage Agent, establishing authority to act at the terminal on their behalf.
We contact the terminal operator, confirm tank availability and cleanliness, agree storage rates and terms, and issue a terminal instruction letter.
On product arrival, independent inspectors gauge the receiving tank (before and after), collect samples for quality analysis, and issue a Certificate of Quantity and Certificate of Analysis.
We monitor the stock position, provide periodic inventory reports, arrange any required re-gauging, and manage communications between all parties throughout the storage period.
On the product owner's instruction, we issue a Release Order (RO) to the terminal, coordinate the out-turn gauging inspection, and provide the buyer with all release documentation.
Need an agent to supervise the injection or quality inspection of your cargo?
View Injection & Inspection Agent ServicesConnect with our team today. We will assess your requirements and provide a competitive, detailed quotation within 24–48 hours — no obligations, no upfront fees.