After more than two years of feasibility study, Houston Fuel Oil Terminal Company has optioned and committed to build a new ship dock #5, adjacent to the Houston Ship Channel, under a 30-year lease with the Port Authority.
The new ship dock will support the import and export of liquid petroleum products for the company’s current and potential customers. In conjunction with this dock development, the Port Authority has extended the adjacent lease with Coastal Cargo of Texas at the Port Authority’s Care Terminal general cargo facility for an additional 10 years.
“This project adds significant value to the Port Authority and to Houston Fuel Oil Terminal Company’s export capabilities, primarily for crude and refined products,” said Port Houston Chief Commercial Officer Ricky Kunz.
Houston Fuel Oil Terminal Company Chief Executive Officer Shaun Revere said, “This project will allow our terminal to increase our contribution to the rapidly growing crude oil distribution infrastructure in the Houston Ship Channel area.”
Houston Fuel Oil Terminal Company is a leading marine terminal for storage of residual fuel oil and crude oil and one of the largest providers of residual fuel oil storage in the U.S. Gulf Coast.