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
NEW YORK, Nov. 8, 2012 /CNW/ - 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."
The terminal experienced very minimal damage in the recent storm and has
storage tanks available for immediate storage. Customers interested in
discussing their storage requirements should contact Dan Gianfalla at
SOURCE: United Riverhead Terminal, Inc.
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CO: United Riverhead Terminal, Inc.
ST: New York
NI: MAR TRN OIL UTI MNA
-0- Nov/08/2012 13:08 GMT
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