World Point Terminals Invests in Storage Capacity

World Point Terminals to Operate at Port of Mobile

World Point Terminals, LP, a Delaware limited partnership, has announced the acquisition of two terminals in Mobile, AL, with a total shell capacity of 1,826,000 barrels once necessary repairs and upgrades are made to the tanks.

Port of Mobile

World Point Terminals will pay approximately $14m in cash for the acquisition.

The Blakeley Island terminal has a total storage capacity of 1,182,000 barrels for the storage of crude oil, distillates and residual fuels.

The terminal is currently served by ship and barge with the ability to add truck access. None of the tankage is currently under contract.

The Chickasaw terminal has a total storage capacity of 644,000 barrels for the storage of asphalt, crude oil, and residual fuels.

The terminal is served by ship, barge, truck and rail. Approximately 450,000 barrels is currently under contract.

The partnership expects to incur between $8m and $12m capital expenditures, including the purchase of land that is currently leased, to return both terminals to full operational capacity.

World Point Terminals believes these terminals will align well within its existing geographic footprint, and support its strategy for growth through stable fee-based revenues.

While these assets will not immediately have a significant impact on EBITDA or distributable cash flow of the partnership, they provide a 14% increase in their available storage capacity.

June 19, 2014, Image: ASDD

Share this article

Follow World Maritime News

In Depth>


<< Nov 2019 >>
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >