Pin Oak Corpus Christi LLC has released a statement to say it received its first vessel on April 15 at the newly-commissioned Oil Dock 14 at the Port of Corpus Christi.
It said the new dock can accommodate fully laden bulk liquid tankers up to Suez-max class with loading rates in excess of 40,000 barrels per hour. The new dock construction was a joint effort between the Port of Corpus Christi Authority and Pin Oak Terminals.
The Port Authority constructed the dock, mooring structures and dredging while Pin Oak installed the topside handling equipment, the storage facilities, and the common carrier pipeline interconnects.
Pin Oak Terminals is a joint venture between Dauphine Midstream LLC and Mercuria Energy Group Ltd. Dauphine is a portfolio company of Pelican Advisors, LLC and is “focused on the development, acquisition, and operations of midstream assets throughout the world”, according to the statement.
Mercuria meanwhile is a global commodities group primarily focused on energy. In 2014, it acquired the physical commodities trading unit of JPMorgan Chase & Co.
Sean Strawbridge, Chief Executive Officer for the Port of Corpus Christi, said: “The Port of Corpus Christi congratulates Pin Oak Terminals on the arrival of their first vessel in Corpus Christi and looks forward to a successful partnership with Pin Oak and their ownership, Dauphine and Mercuria – continuing our mission of creating value for our customers while driving economic prosperity for Texas is our obsession, particularly as we move to a post-COVID-19 recovery era.”
Corey Leonard, Chief Executive Officer of Pin Oak, added: “We set out on this course roughly two years ago to execute on a significant capital development program in conjunction with the Port of Corpus Christi to create a world class multi-modal terminal company.
“Bringing Oil Dock 14 online for Suez-max class vessels is a key component of our strategy, and this week’s achievement marks a significant milestone in our efforts to become the premier terminal and logistics company in the South Texas market.”
“We are proud to have partnered with Pin Oak Terminals to make this milestone a reality,” said Charles W. Zahn, Chairman of the Port of Corpus Christi Commission. “As the Energy Port of the Americas, it is more vital now than ever that we continue to help facilitate commerce to help our nation and the rest of the world on the road to recovery.”
For more information visit portofcc.com
