Expansion of the Collins bulk storage terminal

TransMontaigne Partners has released details of its previously announced expansion of their Collins, Mississippi bulk storage terminal.

The firm entered long-term terminaling services agreements with various parties for approximately 2.0 million barrels of new storage capacity at the facility. In December 2016 it placed into service 0.9 million barrels of the 2.0 million barrels of new tank capacity, and in February 2017 completed construction on an additional 0.3 million barrels. Completion of the remaining 0.8 million barrels of storage will take place in the second quarter of this year.

The anticipated aggregate cost of the project is $75m and is expected to generate annual cash returns in the high-teens.

The terminal is strategically located for the bulk storage market and is the only independent terminal capable of receiving from, delivering to, and transferring refined petroleum products between the Colonial and Plantation pipeline systems. The complex has current active storage capacity of approximately 4.6 million barrels and is expected to increase to 5.4 million barrels once the remaining 0.8 million barrels of tankage is completed.

TransMontaigne has also begun the process of permitting an additional 5.0 million barrels of capacity for future construction at the Collins terminal and is in active discussions with several potential customers regarding this potential future capacity.

For more information visit www.transmontaignepartners.com

23rd March 2017