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Svitzer Seals USVI Tugboat Deal

A Caribbean-based Svitzer tugboat. CREDIT Svitzer

Svitzer Caribbean Dominicana has secured a 5-year contract with Limetree Bay Terminals due to commence on June 15th, 2019.

The company expands its market coverage providing tugboat services to some of the key oil refineries and terminals in the region - South Riding Point Terminal in Bahamas, Nustar Terminal in Statia, Buckeye Terminal in St. Lucia and now Limetree Bay Terminals (Limetree) in St. Croix, US Virgin Islands.

Svitzer Caribbean Dominicana is delighted to add this contract for two tugs to the company's portfolio and believes Limetree will benefit from adding these young vessels to their operation, providing increased capabilities and overall service offerings. For Svitzer Caribbean Dominicana, it displays continued support from key regional customers in recognition of our safe and reliable towage and marine services.

Separately, Limetree Bay Refining, LLC announced that it has reached a definitive agreement with BP's supply and trading arm - for tolling, supply and offtake of the restarted refinery located at Limetree Bay, St. Croix, U.S. Virgin Islands. This announcement follows on the press release issued on November 4, 2018, which communicated that the parties had reached agreement in principle. Limetree Bay Refining anticipates completion of the restart by late 2019.

Limetree Bay Terminals (LBT), located at Limetree Bay, St. Croix, U.S. Virgin Islands, is in the process of restarting an idled refinery with a previous peak processing capacity of 650,000 barrels per day and approximately 32 million barrels of storage capacity, located at a world-class deep-water port. Key restart work at the site began in 2018, and the refinery will resume operations in late 2019. At the restart, the refinery will be operating at a reduced capacity anticipated to be approximately 200,000 Barrels per day.

Svitzer Dominicana is in the process of preparing the tugs and operational set-up to ensure the delivery of the tugs in St. Croix in mid-June. The company has been providing Limetree with tugs on a spot basis through 2017 and 2018 and are familiar with the operation and environment.

Apr 19, 2019

 

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