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TransMontaigne Partners L.P. Acquires an Ownership Interest in the BOSTCO Houston Ship Channel Terminal Project

  TransMontaigne Partners L.P. Acquires an Ownership Interest in the BOSTCO
  Houston Ship Channel Terminal Project

Business Wire

DENVER -- December 20, 2012

TransMontaignePartners L.P. (NYSE:TLP) announced that effective today it
acquired a 42.5% ownership interest for approximately $79 million in
Battleground Oil Specialty Terminal Company LLC (BOSTCO), which is developing
a new black oil terminal facility on the Houston Ship Channel for handling
residual fuel, feedstocks, distillates and other black oils. In connection
with its acquisition, TLP has committed to make its pro rata share of the
future capital contributions required to complete the initial phase of the
BOSTCO project. The initial phase of the BOSTCO project, which is supported by
long term contracts with customers, involves construction of 50 storage tanks
with approximately 6.1 million barrels of storage capacity at an estimated
cost of approximately $425 million. The BOSTCO facility’s docks will benefit
from one of the deepest vessel drafts and nearest access points in the Houston
Ship Channel and will be well positioned to capitalize on increasing exports
of petroleum related products. Our investment in BOSTCO was funded with cash
on hand and borrowings under our amended and restated senior secured credit
facility provided by a syndicate of banks. In connection with our investment
in BOSTCO, our credit facility was amended to increase the maximum revolving
credit amount from $250 million to $350 million.

“TransMontaigne is excited to be able to rejoin Kinder Morgan in the BOSTCO
project. This project will significantly increase our asset base and is
expected to be accretive to the distributable cash flow of the Partnership
once terminal operations commence,” said Charles Dunlap, Chief Executive
Officer of TransMontaigne’s general partner. “This state-of-the-art oil
products storage terminal with deep water access will give us an important
foothold in the Houston Ship Channel with the opportunity to add capacity in
later phases at attractive rates of return.”

The BOSTCO facility is scheduled to begin initial commercial operation in the
fourth quarter of 2013. Completion of the full 6.1 million barrels of storage
capacity and related infrastructure is scheduled for early 2014. A subsidiary
of Kinder Morgan Energy Partners, L.P. (NYSE: KMP) will manage the day to day
operations of the BOSTCO project.

About TransMontaigne Partners L.P.

TransMontaigne Partners L.P. is a terminaling and transportation company based
in Denver, Colorado with operations primarily in the United States along the
Gulf Coast, in the Midwest, in Brownsville, Texas, along the Mississippi and
Ohio Rivers, and in the Southeast. We provide integrated terminaling, storage,
transportation and related services for customers engaged in the distribution
and marketing of light refined petroleum products, heavy refined petroleum
products, crude oil, chemicals, fertilizers and other liquid products. Light
refined products include gasolines, diesel fuels, heating oil and jet fuels;
heavy refined products include residual fuel oils and asphalt. We do not
purchase or market products that we handle or transport. News and additional
information about TransMontaignePartners L.P. is available on our website:
www.transmontaignepartners.com.

Forward-Looking Statements

This press release includes statements that may constitute forward-looking
statements made pursuant to the safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Although the company believes that
the expectations related to BOSTCO reflected in such forward-looking
statements are based on reasonable assumptions, actual results could differ
materially from those projected in the forward-looking statements as a result
of certain risk factors, including, but not limited to, adverse changes in
general economic or market conditions, construction delays or cost overruns,
and competitive factors such as pricing pressures and the entry of new
competitors. Morgan Stanley’s approval of our investment in BOSTCO was based
on the specific facts and circumstances of our investment in BOSTCO and is not
indicative of whether Morgan Stanley will approve any other acquisition or
investment that we may propose. Additional important factors that could cause
actual results to differ materially from the company's expectations and may
adversely affect its business and results of operations are disclosed in "Item
1A. Risk Factors" in TransMontaigne Partners’ Annual Report on Form 10-K/A,
Amendment No. 1, for the year ended December 31, 2011, filed with the
Securities and Exchange Commission on May 3, 2012.The company assumes no
obligation to, and does not currently intend to, update any such
forward-looking statements after the date of this release.

Contact:

TransMontaignePartners L.P.
Charles L. Dunlap, CEO, 303-626-820
or
Gregory J. Pound, COO, 303-626-820
or
Frederick W. Boutin, CFO, 303-626-8200