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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

SGS Wet Welding Repairs Approved by DNV GL

DNV GL and Subsea Global Solutions LLC (SGS) say that they have completed an extensive joint research and development program, that will allow permanent repairs

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

Contracts

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand,

FTA Approves WSF Ferry Terminal Plans

In the latest Washington State Ferries Weekly Update, Capt. George A. Capacci, Interim Assistant Secretary WSDOT/Ferries Division briefs as follows: "FTA approves

Tanker Trends

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

Tankship-specific Version of FindaportCD Released

Harbour & terminal information providers, Shipping Guides Ltd, says its latest tanker-specific  addition enables customers to access the most comprehensive port

ClassNK's Noboru Ueda Attends KOTC Delivery Ceremony

Mr. Noboru Ueda, Chairman and President of ClassNK attended the delivery ceremony for the M/T Al Yarmouk, constructed at Daewoo Shipbuilding & Marine Engineering Co.

Ports

Tankship-specific Version of FindaportCD Released

Harbour & terminal information providers, Shipping Guides Ltd, says its latest tanker-specific  addition enables customers to access the most comprehensive port

Panama Canal Generates VER Carbon Credits

The Panama Canal Authority (ACP) informs it has certified Verified Emission Reductions (VERs) or carbon credits, within the framework of the Sustainable Forest

NZ's Lyttelton Port Recommends Offer, to Pay Special Dividend

The board of New Zealand's  Lyttelton Port Co. Ltd recommended minority shareholders accept an offer of NZ$3.95 a share offer from the commercial arm of the Christchurch city council.

Finance

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

Mergers & Acquisitions

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

NYK Opens New Planning Center in Kumamoto

On September 1, 2014, NYK and Kozo Keikaku Engineering Inc. established a stowage planning center for container shipping at the Kumamoto office of Kozo Keikaku Engineering Inc.

Dentressangle Acquire U.S. 3PL Provider Jacobson

France's Norbert Dentressangle says it has completed the previously announced acquisition of all the shares of privately held U.S. third party logistics (3PL) provider,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.1670 sec (6 req/sec)