Press Release: The Port of Corpus Christi Approves Lease Agreement with Castleton Commodities International for a New Marine Terminal
Mar 22, 2018
Corpus Christi, TX, USA – On Tuesday, March 20, 2018 at scheduled Port Corpus Christi commission meeting, Commissioners approved a lease agreement with CCI Corpus Christi Infrastructure LLC (“CCI”) for approximately 55 acres of land on the north side of the Corpus Christi Ship Channel in the Inner Harbor, for purposes of constructing and operating a marine terminal facility for export of US crude oil, condensate and refined petroleum products via a new oil dock.
“This lease agreement aligns with the Port’s vision to be the Energy Port of the Americas and the strategic plan goal by supporting the infrastructure developments necessary to move increasing volumes of US-produced energy toward global markets.” Said Charles W. Zahn, Chairman Port Commission. “We look forward to expanding the business at the Port and continue to build a mutually beneficial relationship with CCI.”
“This initiative is the outgrowth of CCI’s long-standing relationship with the Port of Corpus Christi. We find the prospect of promoting energy producer access to global markets to be exciting,” said John Wang, Managing Director in the Strategy/Principal Investment Group of Castleton Commodities International.
Under the terms of the Lease Agreement, the port will construct a new oil dock (“Oil Dock 22”) and CCI will install the loading arms, handling equipment, storage tanks and other facilities. The Port will dredge a berth to accommodate Suezmax tankers at Oil Dock 22 and CCI will have exclusive use of the Dock 22 Berth.
From 2016 to 2017, the Port’s crude oil exports increased by 267%, from an average of 83,488 BPD, to 306,334 BPD.
About Port Corpus Christi
As the leading U.S. crude oil export port and a major economic engine of Texas and the nation, Port Corpus Christi is the 4th largest port in the United States in total tonnage. Strategically located on the western Gulf of Mexico with a 36-mile, 47-foot (MLLW) deep channel and a 54-foot (MLLW) deepening project underway, Port Corpus Christi is a major gateway to international and domestic maritime commerce. The Port has excellent railroad and highway network connectivity via three North American Class-1 railroads and two major interstate highways. With an outstanding staff overseen by its seven-member commission, Port Corpus Christi is “Moving America’s Energy.” http://www.portcorpuschristi.com/