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

People & Company News

Obangame Express 2015 Concludes in the Gulf of Guinea

Maritime forces from Gulf of Guinea nations, Europe, South America, and the United States and several regional and international organizations concluded the multinational maritime exercise,

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

Contracts

USA Urged Not to Delay Arctic Drilling

The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, reports AP.

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Viking Bags Charter Deal for AHTS Brage Viking

Viking Supply Ships has entered into a contract with an Oil major for the charter of “Brage Viking” commencing 1stof April 2015. The duration is for 2 years and 8 months firm,

Tanker Trends

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Helios LPG Pool to Start Operating

Dorian LPG Ltd. today announced the commencement of operations of Helios LPG Pool LLC on April 1st, 2015.  Helios LPG is jointly run by Dorian LPG and Phoenix Tankers Pte.

Stolt-Nielsen Completes Bond Issues

Stolt-Nielsen Limited announced the placement of senior unsecured bonds in a total amount of NOK 1,100 million in a new five-year bond issue carrying a coupon of 3M NIBOR plus 4.

Bulk Carrier Trends

First Supramax Vessel for Japan-Italy Venture

'DACC Tirreno' was delivered at the Oshima shipyard in Japan yesterday, the first of four Supramax bulk carriers for the dACC Maritime Limited fleet, the joint

Ukraine Arrests Turkish Ship for Visiting Crimean Port

Turkey owned merchant ship flying the flag of Tuvalu was arrested by Ukrainian authorities over a visit it made to a port in Crimea, reports Reuters. The ship's captain detained.

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Ports

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

China Maritime Silk Road to Touch India for Namesake

Chinese officials on Saturday fleshed out some details for the country's ambitious 21st Century Maritime Silk Road (MSR) project in its “one belt, one road,” action plan.

Finance

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

India May Add Japanese Soryu-Class Submarines to its Fleet

India is reportedly considering a project to incorporate six Japanese Soryu-class diesel-electric submarines into its fleet, says The Japan Times.   The Defense

Mergers & Acquisitions

CSIC, CSSC Dismiss Shipbuilder Merger Rumors

China's state-backed shipbuilding giants said they have not received any merger-related information from authorities, after an executive swap between the firms sparked a market rally in their shares.

Swire Pacific Offshore Acquires 2 Newbuildings

Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) celebrated the naming of two new vessels, Pacific Centurion, an Anchor Handling Tug Supply (AHTS) vessel,

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

 
 
Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1754 sec (6 req/sec)