Seaway Loads First VLCC Ship
June 28 2018 - 9:55AM
Business Wire
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180628005759/en/
Seaway Crude Pipeline Company LLCInvestor RelationsRandy
Burkhalter, 713-381-6812 or
866-230-0745rburkhalter@eprod.comorMediaRick Rainey,
713-381-3635rrainey@eprod.com
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