Seaway Crude Pipeline Company LLC, operated by Enterprise Products
Partners L.P. (NYSE: EPD), today announced the loading of its first Very
Large Crude Carrier (“VLCC”), which has the capacity of approximately 2
million barrels of crude oil. The loading took place at the company’s
marine terminal in Texas City, Texas June 22-24. The FPMC C Melody,
chartered by Vitol, Inc., is the first VLCC to be loaded at a Texas
port. The Texas City facility features two docks, a 45-foot draft, an
overall length (LOA) of 1,125 feet, a 220-foot beam (width) and the
capacity to load crude oil at a rate of 35,000 barrels per hour.
Approximately 1.1 million barrels of crude oil were loaded onto the FPMC C
Melody at the Texas City marine terminal and the remainder of the
crude oil shipment was loaded onto the VLCC in a lightering zone in the
Gulf of Mexico.
“The loading of our first VLCC ship represents an important milestone
for Seaway, as well as North American crude oil producers who benefit
from greater efficiencies and cost savings,” said Brent Secrest, senior
vice president, Liquid Hydrocarbons Marketing for Enterprise’s general
partner. “Accommodating VLCC vessels reflects the midstream industry’s
commitment to providing an integrated solution that supports continued
development of growing domestic crude oil reserves, while enhancing
market access and solidifying the Houston Ship Channel region as the
premier location for exports.”
Seaway Crude Pipeline Company LLC is the owner of a pipeline system that
transports crude oil from Cushing to the Gulf Coast, as well as a Gulf
Coast distribution network, which serves local refineries and dock
facilities at Freeport and Texas City, Texas.
This press release includes “forward-looking statements” as defined
by the Securities and Exchange Commission and “forward-looking
information” within the meaning of applicable Canadian securities
legislation (collectively, “forward-looking statements”). All
statements, other than statements of historical fact, included herein
that address activities, events, developments or transactions that
Seaway expects, believes or anticipates will or may occur in the future,
including anticipated benefits and other aspects of such activities,
events, developments or transactions, are forward-looking statements.
Although Seaway believes that the forward-looking statements included
herein are based on information and assumptions which are current,
reasonable and complete, these statements are necessarily subject to a
variety of risks and uncertainties, including required approvals by
regulatory agencies, the possibility that the anticipated benefits from
such activities, events, developments or transactions cannot be fully
realized, the possibility that costs or difficulties related thereto
will be greater than expected, the impact of competition and other risks
and uncertainties included in the reports filed with securities
regulatory authorities. While Seaway makes these forward-looking
statements in good faith, should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may differ materially from those expected. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of their dates. Except as
required by law, Seaway does not intend to update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180628005759/en/
Copyright Business Wire 2018
Source: Business Wire
(June 28, 2018 - 9:55 AM EDT)
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