TransMontaigne Partners L.P. Announces That It Has Entered into a Capacity
Lease Agreement Relating to the Razorback System
DENVER -- January 29, 2014
TransMontaigne Partners L.P. (“TLP”) (NYSE: TLP) announced today that its
wholly-owned subsidiary, TransMontaigne Operating Company L.P., has entered
into a 10-year capacity lease agreement with Magellan Pipeline Company, L.P.
(“Magellan”), effective March 1, 2014, covering 100% of the capacity of TLP’s
terminals in Rogers, Arkansas; Mt. Vernon, Missouri; and its Razorback
Pipeline, which runs from Mt. Vernon to Rogers. “We are very pleased to
complete this long term, fee-based transaction with such a high quality
customer like Magellan,” stated Chuck Dunlap, CEO of TLP. Morgan Stanley was
the previous customer and has been working with TLP over the last year to
ensure a smooth transition to a new customer. The existing agreement for these
facilities with Morgan Stanley will terminate effective February 28, 2014.
TLP’s management expects that the new agreement will generate approximately
the same total annual revenue as the Morgan Stanley agreement.
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 Houston and 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.
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. Our business and results of
operations are subject to risks and uncertainties, many of which are beyond
our ability to control or predict. Because of these risks and uncertainties,
actual results may differ materially from those expressed or implied by
forward-looking statements, and investors are cautioned not to place undue
reliance on such statements, which speak only as of the date thereof.
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 the company’s Annual
Report on Form10-K for the year ended December31, 2012, filed with the
Securities and Exchange Commission on March12, 2013.
TransMontaigne Partners L.P.
Charles L. Dunlap, CEO, 303-626-8200
Frederick W. Boutin, CFO, 303-626-8200
Gregory J. Pound, COO, 303-626-8200
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