Corpus Christi, Texas. – Port Corpus Christi and Martin Midstream Partners announced today the construction of Oil Dock 15 on the Northside of the Inner Harbor. A groundbreaking ceremony will be held Thursday, July 14 at 10:00 a.m. (See attached map for directions)
In 2012, long time Port customer, Martin Midstream, began increasing its presence by adding new crude oil storage tanks and trans-loading capabilities. These efforts have resulted in Martin Midstream being named one of the Port’s top five customers in 2015.
Now, just as the United States Government’s ban prohibiting the exportation of crude oil has been lifted, the Port and Martin Midstream have finalized negotiations for the construction of the new crude oil dock. Oil Dock 15 will accommodate trans-loading through a new 24” pipeline originating from Martin’s 900,000 barrel POCC crude oil terminal. Oil Dock 15 will be designed to accommodate up to 52 feet of draft and feature an 1,100 foot slip. The dock will be capable of crude loading at a rate of 30,000 barrels per hour. Three loading arms will be constructed to accommodate inland and ocean-going barges and ships including both Aframax and the new Panamax classes.
Ruben Martin, President and Chief Executive Officer of Martin Midstream GP LLC, the general partner of Martin Midstream Partners, said, “We are excited to have reached an agreement with the Port of Corpus Christi for construction of a new dock dedicated to Martin Midstream. This dock will further enhance the capability of our Corpus Christi Crude Terminal by giving us additional takeaway capacity and marketing opportunities.”
“Port Corpus Christi is continuously looking for opportunities to improve its infrastructure to remain competitive. The construction of a new oil dock is one of them. Martin Midstream Partners is a great customer of the port. We are excited to be able to provide the infrastructure they need to enhance their liquid movement capabilities through our port,” said Charles W. Zahn, Jr., Chairman of the Port Corpus Christi Commission.
About Martin Midstream Partners L.P. (NASDAQ: MMLP)
Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership’s primary business lines include: (1) terminalling, storage and packaging services for petroleum products and by-products; (2) natural gas liquids transportation and distribution services and natural gas storage; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) marine transportation services for petroleum products and by-products. Additional information concerning Martin Midstream is available on its website at www.martinmidstream.com
About Port Corpus Christi
As the primary economic engine of the Coastal Bend, Port Corpus Christi is the 5th largest port in the United States in total tonnage. Our mission; to “Leverage Commerce to Drive Prosperity.” Our vision; “To be the energy port of the America’s.” Strategically located on the western Gulf of Mexico, with a straight, 45’ deep channel, Port Corpus Christi provides quick access to the Gulf and the entire United States inland waterway system. The Port delivers outstanding access to overland transportation with on-site direct connections to three Class-1 railroads and uncongested interstate and state highways. Port Corpus Christi is protected by a state-of-the-art security department and an award-winning Environmental Management System. With outstanding management and operations staff, Port Corpus Christi is clearly “Moving America’s Energy.” http://www.portcorpuschristi.com/
Port Corpus Christi is a member of START (South Texas Alliance for Regional Trade), a collaborative effort that highlights business opportunities in South Texas in the manufacturing, energy, aerospace, international trade, military, and other sectors and the related strategic support provided by Port San Antonio, Port Corpus Christi, and Port Laredo. http://www.southtexastrade.com/