US United Bulk Terminal sold

FLORIDA-headquartered United Maritime Group has sold a massive Louisiana dry terminal facility to Oiltanking Holding Americas division Bulk Handling USA for an undisclosed sum.
US United Bulk Terminal sold US United Bulk Terminal sold US United Bulk Terminal sold US United Bulk Terminal sold US United Bulk Terminal sold

Image courtesy of United Maritime Group

Donna Schmidt

With a throughput capacity of over 11 million tons, US United Bulk Terminal in Davant is the largest dry terminal on the Lower Mississippi, and stores, blends and transfers coal and petcoke products domestically and internationally.

It is considered a critical logistic link in the international supply chains of both sectors.

“In the four years since acquiring UBT, we have developed the business into a leading independent provider of terminal and transfer services to the domestic and export markets for coal and petroleum coke,” chairman and chief executive of owner UMG Steven Green said.

“Oiltanking is a leading provider of terminal and storage services for liquid petroleum and chemical products globally and is an excellent successor to continue to grow and enhance UBT's position in the market.”

OTA president and CEO Carlin Conner said that the company feels UBT will serve as a foundational asset to drive further organic opportunities and acquisitions.

“We anticipate significant growth at this terminal over the next two years and plan to spend approximately $70 million to increase throughput capacity, improve handling flexibility and develop world-class blending capabilities.”

The sale is expected to close during the second quarter, pending regular approvals and closing conditions.

Bank of America Merrill Lynch was financial advisor to UMG on the deal, and Willkie Farr & Gallagher acted as its legal counsel.  

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