United Purchases Riverhead Deepdraft Products Terminal

press release
Thursday, November 08, 2012

United Completes Purchase Of Phillips 66 Riverhead Long Island 5 Million Barrel Oil And Petroleum Products Terminal; Deepwater Location Accommodates Any Ocean Going Vessel In The World.

United Riverhead Terminal, Inc., announced today that it has closed on the purchase agreement with Phillips 66 to acquire the Riverhead bulk storage terminal.  The facility, located on a 286 acre site in Suffolk County, New York, consists of 20 storage tanks, a truck transfer rack, and an off-shore barge/ship platform which is the only deepwater loading/unloading platform on the U.S. East Coast.  With an operating draft of 64 feet, the terminal's offshore platform routinely receives Suezmax vessels and is capable of handling VLCC tankers.

 

The facility features an 800 foot pier and a barge/ship loading platform one-mile from the shoreline. The loading platform is located in the deepest channel on the East Coast and is self-sustaining and provides its own electricity via generators. The storage capacities of the tanks exceed 5 million barrels which ranks the terminal as one of the largest facilities in the region and in the United States.  72 acres of the site is a waterfront tract located on the north side of Sound Shore Road and its 214 acre inland tract is located on the south side of Sound Shore Road in Riverhead, Long Island, New York.

 

The terminal's eastern Long Island location is significant as the Atlantic Ocean is approximately 30 miles to the east.  This enables large ships to come from the Atlantic from all points of the globe, thereby avoiding the Port of New York/New Jersey.  Delivered product can then be stored at the terminal and reloaded onto ocean-going barges   for all parts of the East Coast; its primary business is the central and north Atlantic region.  A significant amount of the product is received by ship, stored and delivered by ocean-going barge and tankers, and a minimal amount is delivered by transport truck, primarily for heating fuel for eastern Long Island.

 

Dan Gianfalla will continue to serve as Manager of the terminal, assisted by his 20 person crew. Mr. Gianfalla has been the manager at the terminal for 20 years, and many of the crew members have served more than 20 years. Mr. Gianfalla holds a Master Mariner's License and sailed for many years with Exxon Shipping Company.  The terminal has an exemplary environmental record.

 

John A. Catsimatidis, Chairman and CEO of the Red Apple Group, Inc. which includes the buyer, commented:  "We are pleased to acquire this important asset.  It permits us to diversify into a non cyclical fee-based business.  The terminal itself is well located strategically; access to low-cost and reliable marine transportation is vital to the competitiveness of its customers in petroleum and petrochemical operations.  Riverhead allows access to high capacity deepwater marine facilities that will give them a cost advantage over other locations."

 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

5th Floating Accommodation for Lerwick

A further accommodation ship, Ocean Atlantic, is due at Lerwick on Monday 27 April 2015 and is on its way from Portland in Dorset. As with the other floating accommodation at the port,

Double Order for Super Gloria Reachstacker

Kalmar, part of Cargotec, has gained an order for two Super Gloria reachstackers from Tadarsa Logistics S.L. in Aviles, Spain. The largest reachstackers ever built,

BIMCO Welcomes EU Decision on Migrants

BIMCO has stated today that it appreciates the new efforts by EU leaders to reduce increasing reliance on merchant shipping to rescue the growing numbers of

Contracts

Double Order for Super Gloria Reachstacker

Kalmar, part of Cargotec, has gained an order for two Super Gloria reachstackers from Tadarsa Logistics S.L. in Aviles, Spain. The largest reachstackers ever built,

Algoma Central Orders New Great Lakes Ships

Algoma Central Corporation announces $160 million investment in fleet expansion and fleet renewal   Algoma Central Corporation announced that it has acquired

Russia, France Close to Deal on Mistrals

Russia and France are close to reaching an agreement for Paris to cancel a frozen contract on the sale of Mistral helicopter carriers and reimburse Moscow, a Russian

Bulk Carrier Trends

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

The German Shipbuilding Rebound

German shipbuilding has made a significant turnaround. The country’s shipbuilding industry has seen increases in the number of employees, orders and deliveries compared to 2013,

Algoma Central Orders New Great Lakes Ships

Algoma Central Corporation announces $160 million investment in fleet expansion and fleet renewal   Algoma Central Corporation announced that it has acquired

Ports

5th Floating Accommodation for Lerwick

A further accommodation ship, Ocean Atlantic, is due at Lerwick on Monday 27 April 2015 and is on its way from Portland in Dorset. As with the other floating accommodation at the port,

Double Order for Super Gloria Reachstacker

Kalmar, part of Cargotec, has gained an order for two Super Gloria reachstackers from Tadarsa Logistics S.L. in Aviles, Spain. The largest reachstackers ever built,

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

Finance

Norwegian Car Carriers to Buy Two from Hyundai Samho

Oslo-listed Norwegian Car Carriers (NOCC) has signed a contract with Hyundai Samho Heavy Industries for the construction of two 6500 ceu Pure Car Truck Carrier (OCTCs).

Long Beach, Los Angeles ports host forum to gather input

More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for

Venezuela Probes ex-minister accused of corruption in Ferry Deals

A former minister in President Nicolas Maduro's government denied in an interview published on Friday accusations of corruption during the purchase of three

Mergers & Acquisitions

5th Floating Accommodation for Lerwick

A further accommodation ship, Ocean Atlantic, is due at Lerwick on Monday 27 April 2015 and is on its way from Portland in Dorset. As with the other floating accommodation at the port,

HII, Kinder Morgan Not to Pursue Avondale Joint Venture

Huntington Ingalls Industries and Kinder Morgan Inc. decide not to pursue joint venture on Avondale redevelopment   Huntington Ingalls Industries (HII) announced

MISC Says AET Tankers Unit Not for Sale

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers.

 
 
Maritime Contracts Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2325 sec (4 req/sec)