Colonial Terminals has announced another terminal acquisition
Published by Oliver Kleinschmidt,
Editorial Assistant
Tanks and Terminals,
On 1 December 2023, Colonial Terminals, Inc. (CTI), a division of Savannah-based Colonial Group, Inc., acquired a bulk liquid terminal owned and operated by Buckeye Terminals, LLC (Buckeye). The terminal is located on the Cape Fear River and has approximately 550 000 bb of storage capacity.
The facility is adjacent to an existing bulk terminal owned and operated by CTI. The combined terminal complex will have over one million bb of bulk liquid storage and offer marine, rail, and truck access into the fast-growing Southeastern US.
“Colonial Terminals is committed to growth in markets that support our team’s ability to deliver the highest levels of service to customers who value supply chain dependability and efficiency,” said Ryan Chandler, president of Colonial Terminals. “This adjacent facility adds a new berth and substantial river frontage to our already large footprint on the Cape Fear River, and we’re eager to offer new capabilities for existing customers as well as attract new customers and products to the market.”
The acquisition has increased CTI’s storage infrastructure in Wilmington to more than one million bb, 70 acres, and over a half mile of river frontage. Products stored at these facilities include industrial chemicals, specialty chemicals, petroleum, and others. CTI will retain all local employees who currently operate the acquired facility.
“Wilmington is a gateway to the growing Southeastern US market, and we believe this acquisition strongly positions our team to support current and new customer growth far into the future,” said Chandler.
With the addition of the new facility, CTI operates seven terminals, five in Georgia and two in Wilmington, with a total liquid capacity of approximately eight million bb and a total dry capacity of approximately 200 000 t of vertical storage, 400 000 ft2 of covered flat storage, and significant outside storage acreage. Each terminal is strategically located in close proximity to a container port and provides access to ocean and landside (road and rail) logistics networks, as well as global and regional sourcing and distribution pathways.
Read the article online at: https://www.tanksterminals.com/terminals/04122023/colonial-terminals-has-announced-another-terminal-acquisition/
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