Tank Terminals News

Gateway Terminals Announces Acceptance of Canadian Crude Oil

Port Storage Group Information Services — Fri, 17 May 2013 09:01:51

May 17, 2013 [Marketwired] - Gateway Terminals LLC, a subsidiary of SEACOR Holdings Inc., yesterday announced it has updated its terminal mechanics to now accept Canadian crude oil (Heavy Sour-Unconventional).

Jindal, Wolverine Terminals Announce $30M Crude Oil Terminal

Port Storage Group Information Services — Fri, 17 May 2013 08:55:28

May 17, 2013 [Bloomberg] — A $30 million crude oil terminal and blending operation is coming to St. James Parish. Louisiana Gov. Bobby Jindal and Wolverine Terminals LLC General Manager Terry Wilson said Wednesday the company will set up on a 15-acre site along the Mississippi River.

China Seen Boosting Emergency Oil Storage Capacity, IEA Says

Port Storage Group Information Services — Tue, 14 May 2013 14:23:23

May 14, 2013 [Bloomberg] - China will probably commission additional storage sites for its strategic petroleum reserve this year, boosting crude demand even as construction work on the program takes longer than expected, according to the International Energy Agency.

Kinder Morgan to Invest $106M for TX Condensates, Refined Products Projects

Port Storage Group Information Services — Tue, 14 May 2013 11:27:19

May 14, 2013 [OPIS] - Kinder Morgan Energy Partners (KMEP) will invest some $106 million to buy some 20 acres of land adjacent to its Pasadena, Texas, terminal along the Houston Ship Channel, the company said Monday.

Mashreq Inks Agreement to Build Fuel Bunkering Terminal and Logistics Hub

Port Storage Group Information Services — Tue, 14 May 2013 11:15:36

May 14, 2013 [CPI Financial] - Citadel Capital has announced that core platform company Mashreq Petroleum has signed a 25-year concession agreement (extendable for a further five years) with the East Port Said Port Authority that will allow it to build the first independent tank terminal in Egypt.

Yara Expands Storage Capacity with Diesel Exhaust Fluid (DEF) Terminal Opening

Port Storage Group Information Services — Mon, 13 May 2013 16:27:39

May 13, 2013 [The Sacramento Bee] - Yara North America Inc., the world's largest Diesel Exhaust Fluid (DEF) producer, today announced the opening of a new storage terminal in Chesapeake, Va.

Benalec Set to Seal Two Major Deals - Malaysia

Port Storage Group Information Services — Mon, 13 May 2013 12:03:38

May 13, 2013 [Malaysia Chronicle] - Marine construction company Benalec Holdings Bhd is close to inking two major deals for its land reclamation project off Tanjung Piai in Johor, which will translate into investments exceeding RM35 billion.

Oiltanking's Q1 Financial Results

Port Storage Group Information Services — Mon, 13 May 2013 09:22:57

May 13, 2013 [PRNewswire] – Oiltanking Partners, reported first quarter 2013 net income of $20.2 million, an increase of 26.7% over first quarter 2012 net income of $15.9 million. Adjusted EBITDA increased 27.5% to $25.7 million for the first quarter of 2013, compared to $20.2 million for the first quarter of 2012.

With Pipelines on Hold, Storage Services Boom

Port Storage Group Information Services — Mon, 13 May 2013 09:02:56

May 13, 2013 [The GLobe and Mail] - A combination of growing oil sands production and congested pipelines is creating new opportunities for midstream companies that have cavern or tank capacity to spare.

BORCO Revenues Up 14% For Q1

Port Storage Group Information Services — Fri, 10 May 2013 08:46:19

May 10, 2013 [Tribune 242] - The Bahamas Oil Refining Company (BORCO) produced a 14.3 per cent year-over-year revenue increase to $52.7 million for the 2013 first quarter, as it awaits the likely recovery of a $5 million insurance deductible.

Ground Breaking Set For Expansion of Seward Fuel Terminal - Alaska

Port Storage Group Information Services — Thu, 09 May 2013 10:59:27

May 09, 2013 [Anchorage Daily News] - Seward - Shoreside Petroleum announced an expansion to its fuel storage terminal in Seward of up to 8 million gallons. The project will raise the facility’s capacity to some 10 million gallons. Shoreside will partner with Petro Marine Services, with the first phase of construction scheduled to begin this summer.

Gibson Energy Boosts Q1 Profits from All Business Segments

Port Storage Group Information Services — Thu, 09 May 2013 10:39:43

May 09, 2013 [OPIS] - Gibson Energy Inc. said late on Tuesday that it has posted record financial results for the first quarter 2013, supported by profit increases across all businesses.

Klaipedos Nafta Reloads 6% More Oil Products in April

Port Storage Group Information Services — Wed, 08 May 2013 17:16:57

May 08 2013 [Baltic Course] - In April 2013, Lithuania-based oil company Klaipedos Nafta reloaded 575,000 tons of oil products into its storage tanks, that was by 6% less than in April 2012 – 614,000 tons, the company said in a statement, informs LETA.

Enbridge to Build Tanks for Surmont Oil Sands Project

Port Storage Group Information Services — Wed, 08 May 2013 10:14:51

May 08, 2013 [Reuters] - Enbridge Inc, Canada's largest pipeline operator, said on Tuesday it will spend C$300 million ($299 million) on infrastructure to handle expanded production from the Surmont oil sands project owned by ConocoPhillips and French oil major Total SA.

Odfjell: Improvements in Shipping and Terminals

Port Storage Group Information Services — Wed, 08 May 2013 10:05:48

May 08, 2013 [Euro Investor] - EBITDA of USD 27 million reflects a slightly better chemical tanker market and higher terminal earnings. Time charter results up 8% compared to last quarter.

Odfjell, Lindsay Goldberg Ink Final Agreements for Tank Terminal JV Expansion

Port Storage Group Information Services — Tue, 07 May 2013 14:15:10

May 6, 2013 [SeeNews] - Norwegian shipping group Odfjell SE and US private equity firm Lindsay Goldberg LLC have sealed final transaction agreements for their joint venture (JV) to include substantially the whole tank terminal business of Odfjell, the latter said today.

Sri Lanka Wants to Partner IOC in Oil Tanks Pact

Port Storage Group Information Services — Mon, 06 May 2013 08:23:59

May 06, 2013 [Indian Express] - Hardening its stance after India backed a UN resolution against Sri Lanka, Colombo has indicated that a decade-old MoU on a strategic oil tank farm in the island nation would have to be re-negotiated to include a Lankan partner in its operation.

RPT-Buckeye Says Perth Amboy-Linden NJ Connection Ahead of Schedule

Port Storage Group Information Services — Mon, 06 May 2013 08:05:54

May 06, 2013 [Reuters] - A project to connect Buckeye Partners LP's Perth Amboy, New Jersey terminal with a pipeline transportation hub in Linden is about three months ahead of schedule, Buckeye Chief Executive Officer Clark Smith said on Friday.

Magellan Midstream Earnings Jump 20% in First Quarter

Port Storage Group Information Services — Mon, 06 May 2013 07:49:22

May 6, 2013 [Tulsa World] - Magellan Midstream Partners LP boosted first-quarter earnings by shipping more refined products through its pipelines. The Tulsa-based company Thursday reported a 20.8 percent increase in net income from a year ago, earning $113.0 million for the quarter.

Gibson Energy Inc. Announces Additional Storage Tankage at Hardisty Terminal

Port Storage Group Information Services — Fri, 03 May 2013 13:50:27

May 3, 2013 [News Wire] - Gibson Energy Inc. is pleased to announce that it has received committed customer support for an additional 500,000 bbl crude oil storage tank at the Company's Hardisty Terminal.