USD Partners well capitalised in the storage market

USD Partners’ terminalling services segment generated strong adjusted EBITDA from its terminals in Hardisty, Casper, San Antonio and West Colton.
The company generated an adjusted EBITDA of $16.1 million and a net income of $6.4 million.
At the Hardisty terminal substantially all of the capacity is contracted under multi-year, take-or-pay terminal services agreements that extend through to mid-2019. Adjusted EBITDA attributable to the Hardisty terminal was negatively impacted by the lower average value of the Canadian dollar relative to the US dollar.
At the San Antonio terminal, average throughput was approximately 10,000 barrels per day while at the West Colton terminal, average throughput was around 5,600 per day.