Tank Storage Companies provide facilities for the storage of large quantities of bulk liquids. Products stored typically include crude oil, petroleum products and chemicals, as well as potable liquids, edible oils and fats. Receipt and delivery of these products take place by means of sea transport, inland barge, road, rail and cross-country pipeline. Tank storage thus provides the interface between these various modes of transport.

There is, of course, a common interest and commitment between the storage industry and the operators of the various modes of transport to achieving high standards of safety and environmental protection throughout their operations. The industry also provides additional services to client, such as heating or blending their products and it is one of the strengths of the industry that it is able to meet the clents' diverse requrements effectively, safely and efficientlyfor a large and ever-changing inventory of products.

The reference to "independent" in relation to tank storage activities, reflects the fact that products are stored for parties. Indepedent tank storage companies in general, do not own the products they store. This is in contrast to in-house storage facilities which are owned and often also physically linked to the manufacturing facility. The differentiation between independent and in-house storage is particularly significant when addressing the recovery of costs incurred as a result of legislation. Such costs are frequently relatively small when related to the value of the client's product but unfortunately can be disproportionately high when related to the charges which can be made for providing storage.

Another essential characteristic of independent tank storage is the flexibility to use its capacity to store as a wide range of different products as possible, within teh limits of technology and the licensing regime. Relatively swift changes of products stored in a particular tank is a characteristic feature of the industry. In general, the nature of the business described above means that independent tank storage perhaps requires a wider range of skills than an in-house storage facility, as the range of products it is likely to store is much wider and far less constant.