TransMontaigne Partners has entered into a five year terminalling services agreement with Morgan Stanley Capital Group at its Mississippi terminals.
The agreement is for 2.7 million barrels of product storage capacity at its Collins/Purvis, Mississippi terminals. The new agreement will be effective from January 1, 2016 and will replace TransMontaigne Partners’ existing agreement with Morgan Stanley Capital Group for the tankage.
The Colorado-based terminalling and transportation company also announced that it is in the initial stages of pursuing an expansion of the Collins terminal facility that would include an additional one million barrels of storage.
Fred Boutin, CEO of TransMontaigne Partners, says: ‘We are pleased to announce the extension of our long term customer relationship with Morgan Stanley and the near term opportunity to further expand the facility to accommodate additional shippers on the Colonial and Plantation pipelines.’
The terminal is currently capable of receiving from, and delivering to, both the Colonial and Plantation pipelines as well as between the two pipeline carriers.