EXPANSION The annual HCB roundup of global terminal expansion and construction projects sees refinery closures continuing to cause a structural shift in terminal demand, while nervousness over the future rate of economic recovery is keeping a lid on optimism
MERGERS & ACQUISITIONS It has been another year of switching, swapping, investing and divesting storage terminal assets, with more money pouring in from private investors
ArcLight Capital Partners has agreed to acquire Blackwater Midstream Corp for some $44m in cash. Blackwater’s board of directors has unanimously approved the deal and is recommending that stockholders accept the offer.
EXPANSIONS This year’s annual round-up of expansion work at the world’s bulk liquids storage terminals is similar in extent to last year’s and many of the key drivers for growth remain unchanged
Blackwater Georgia, a wholly owned subsidiary of Blackwater Midstream Corp, it to build a 60,000-bbl (9,500 m3) expansion at its Brunswick, Georgia, terminal.
Blackwater Midstream Corp, through its Blackwater Maryland LLC subsidiary, has completed the acquisition of NuStar’s 177,000-bbl (28,140 m3) terminal in Salisbury, Maryland.
Blackwater Midstream Corp has agreed to buy an existing bulk liquids terminal in Salisbury, Maryland for $1.6m. The terminal, currently owned by NuStar Energy
Blackwater Midstream Corp reports revenues of $1.76m for the second quarter of its financial year (three months to end September), up from $1.02m last year.
