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NEWS BULLETIN
STORAGE TERMINALS
CONTANDA AND BW COMBINE
Contanda and BW Terminals are to merge, following the acquisition of Contanda by institutional investors advised by JP Morgan Asset Management this past December, which brought the two companies under common ownership. The combined entity will be headed by industry veteran Mike Suder, currently BW Terminals’ CEO, with Jerry Cardillo planning to step down from his role at Contanda to pursue other opportunities. “Mike has a proven record of accomplishment at BW Terminals and has overseen tremendous growth at each of the companies he has led throughout his almost three-decade career in the terminals industry,” a statement from the board of directors says. “We believe he is the ideal leader for the Contanda–BW Terminals organisation. We have tremendous respect for what Contanda has achieved under Jerry’s leadership and wish him well in his future endeavours.” Suder adds: “Both Contanda and BW
HCB MONTHLY | APRIL 2020
Terminals have a reputation for exceptional service enabled by dedicated employees. By bringing Contanda and BW Terminals together, we are entering a new chapter of growth and success. I look forward to leading this combined organisation and I firmly believe that the combination will further enhance our customer service offering and create a leading platform in the industry.” Contanda currently operates 15 bulk liquids terminals in North America with a total tank capacity of more than 7m bbl. BW Terminals operates three facilities in Louisiana (above) and Georgia, storing a wide range of petroleum, chemical and agricultural products. www.contanda.com GOING OFFSHORE
Phillips 66 and Trafigura Corp have established a 50/50 joint venture, Bluewater Texas Terminal, to develop an offshore VLCC loading facility some 21 nm east of Corpus Christi for the export of crude oil. The plan is to install two
single-point mooring buoys, subject to a final investment decision expected later this year once permitting has been completed. As part of the move, Trafigura has withdrawn its application to develop the Texas Gulf Terminals deepwater port facility, lodged with the US Maritime Administration (MarAd) in July 2018. The Bluewater Texas joint venture combines the unique market position that Trafigura has built in the US as a leading exporter and marketer of crude oil with Phillips 66’s commercial expertise, existing infrastructure network on the US Gulf Coast, and proven operating experience, including the safe operation of a single point mooring buoy in the UK since 1971. www.phillips66.com INTER IN CHARGE
Inter Pipeline Fund has reported funds from its Inter Terminals division of C$115m for the full year 2019, up by C$49m over the 2018
