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United States

Profile: TransMontaigne Partners LP (TLP.N)

TLP.N on New York Stock Exchange

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24 Jul 2017
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TransMontaigne Partners L.P. (TransMontaigne Partners), incorporated on February 23, 2005, is a terminaling and transportation company with operations 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. The Company operates its business in five principal business segments: Gulf Coast terminals, Midwest terminals and pipeline system, Brownsville terminals, River terminals and Southeast terminals. The Company provides integrated terminaling, storage, transportation and related services for companies engaged in the trading, distribution and marketing of light refined petroleum products, heavy refined petroleum products, crude oil, chemicals, fertilizers and other liquid products.

The Company is controlled by its general partner, TransMontaigne GP, which is an indirect subsidiary of ArcLight Energy Partners Fund VI, L.P. (ArcLight). The Company uses its terminaling facilities to receive refined products from the pipeline, ship, barge or railcar making delivery on behalf of its customers, and transfer those refined products to the tanks located at its terminals; store the refined products in its tanks for its customers; monitor the volume of the refined products stored in its tanks; distribute the refined products out of its terminals in vessels, railcars or truckloads using truck racks and other distribution equipment located at its terminals, including pipelines, and heat residual fuel oils and asphalt stored in its tanks, and provide other ancillary services related to the throughput process.

Gulf Coast Operations

The Company's Gulf Coast operations include eight refined product terminals located in Florida. At its Gulf Coast terminals, it handles refined products and crude oil on behalf of, and provide integrated terminaling services to, customers engaged in the distribution and marketing of refined products and crude oil. Its Gulf Coast terminals receive refined products from vessels on behalf of its customers. In addition, its Jacksonville terminal also receives asphalt by rail and its Port Everglades (North) terminal also receives product by truck. The Company distributes by truck or barge at all of its Gulf Coast terminals. In addition, it distributes products by pipeline at its Port Everglades and Tampa terminals. An oil company retains an ownership interest, ranging from 25% to 50%, in specific tank capacity at its Port Everglades (South) terminal. The Company manages and operates the Port Everglades (South) terminal.

Midwest Terminals and Pipeline Operations

In Missouri and Arkansas, the Company owns and operates the Razorback pipeline and terminals in Mount Vernon, Missouri, at the origin of the pipeline and in Rogers, Arkansas, at the terminus of the pipeline. It refers to these two terminals collectively as the Razorback terminals. The Razorback pipeline is a 67 mile, eight inch diameter interstate common carrier pipeline that transports light refined product from its terminal at Mount Vernon, where it is interconnected with a pipeline system owned by Magellan Midstream Partners, L.P., to its terminal at Rogers. The Razorback pipeline has a capacity of approximately 30,000 barrels per day. The Company also owns and operates a terminal facility at Oklahoma City, Oklahoma. Its Oklahoma City terminal receives gasolines and diesel fuels from a pipeline system owned by Magellan Midstream Partners, L.P. for delivery through its truck rack for redistribution to locations throughout the Oklahoma City region.

Brownsville, Texas Operations

The Company owns and operates approximately 0.9 million barrels of additional tankage and related ancillary facilities in Brownsville independent of the Frontera joint venture, as well as the Diamondback pipeline, which handles liquid product movements between Mexico and south Texas. At its Brownsville terminal, it handles refined petroleum products, chemicals, vegetable oils, naphtha, wax and propane on behalf of, and provides integrated terminaling services to, customers engaged in the distribution and marketing of refined products and natural gas liquids. Its Brownsville facilities receive refined products on behalf of its customers from vessels, by truck or railcar. It also receives natural gas liquids by pipeline.

The Diamondback pipeline consists of an eight-inch pipeline that transports liquefied petroleum gas (LPG) approximately 16 miles from its Brownsville facilities to the United States/Mexico border and a 6 inch pipeline, which runs parallel to the eight-inch pipeline. The eight-inch pipeline has a capacity of approximately 20,000 barrels per day. The six-inch pipeline has a capacity of approximately 12,000 barrels per day. The Company leased the capacity on the Ella Brownsville pipeline from Seadrift Pipeline Corporation, which transports LPG from two points of origin to its terminal in Brownsville: from the King Ranch natural gas processing plant owned and operated by a third party in Kleberg County, Texas for 121 miles to Brownsville and an additional 11 miles beginning near the King Ranch terminus to the DCP LaGloria Gas Plant in Jim Wells County, Texas.

The Company also operates and maintains the United States portion of a 174 mile bi directional refined products pipeline owned by a third party. This pipeline connects its Brownsville terminal complex to a pipeline in Mexico that delivers to a third party terminal located in Reynosa, Mexico and terminates at the third party's refinery, located in Cadereyta, Nuevo Leon, Mexico, a suburb of the large industrial city of Monterrey. The pipeline transports refined products and blending components. It operates and manages the 18 mile portion of the pipeline located in the United States. The customers it serves at its Brownsville terminal facilities consist principally of wholesale and retail marketers of refined products and industrial and commercial end users of refined products, waxes and industrial chemicals.

River Operations

The Company's River facilities included 12 refined product terminals along the Mississippi and Ohio Rivers and the Baton Rouge, Louisiana dock facility as of December 31, 2016. At its River terminals, the Company handles gasolines, diesel fuels, heating oil, chemicals and fertilizers on behalf of, and provide integrated terminaling services to, customers engaged in the distribution and marketing of refined products and industrial and commercial end users. Its River terminals receive products from vessels and barges on behalf of its customers and distribute products primarily to trucks and barges.

Southeast Operations

The Company's Southeast facilities included 22 refined product terminals along the Plantation and Colonial pipelines as of December 31, 2016. At its Southeast terminals, the Company handles gasolines, diesel fuels, ethanol, biodiesel, jet fuel and heating oil on behalf of, and provide integrated terminaling services to, customers engaged in the distribution and marketing of refined products. Its Southeast terminals primarily receive products from the Plantation and Colonial pipelines on behalf of its customers and distribute products primarily to trucks with the exception of the Collins/Purvis bulk storage terminal. The Collins/Purvis bulk storage terminal is the only independent terminal capable of receiving from, delivering to, and transferring refined petroleum products between the Colonial and Plantation pipeline systems.

The Company competes with BP p.l.c., Buckeye Partners, L.P., Chevron U.S.A. Inc., CITGO Petroleum Corporation, Exxon Mobil Corporation, HollyFrontier Corporation, Holly Energy Partners, L.P., Kinder Morgan, Inc., MPLX LP, Motiva Enterprises LLC, Murphy Oil Corporation, NuStar Energy L.P., Phillips 66, Phillips 66 Partners LP, Sunoco, Inc. and Sunoco Logistics Partners L.P.

Company Address

TransMontaigne Partners LP

1670 Broadway Ste 3100
DENVER   CO   80202-4815
P: +1303.6268200
F: +1303.6268228

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