US-based petrochemical manufacturer and storage operator Bigler Terminals has declared bankruptcy and is now selling its sole Houston Ship Channel terminal owing to a ruptured feedstock supply chain.
The company opened a new petrochemicals complex linked to the terminal, which shut down after LPG feedstock supplier Lyondell went bankrupt, bringing down the terminal business.
The terminal is currently operating 100,000 m3 of storage for LPG, petrol blends and speciality chemicals.
It has been officially bankrupt since 30 October and is now attracting interest for bidders through US investment bank Parkman Whaling.The terminal has the design and permitting almost complete for an additional 1.5 million m3 storage.
Bigler currently has no plans to recommence terminal activities following the sale.