Company Website:
http://www.transmontaignepartners.com
DENVER -- (Business Wire)
TransMontaigne Partners L.P. (“TLP”) (NYSE: TLP) announced today that
its wholly-owned subsidiary, TransMontaigne Operating Company L.P., has
entered into a 10-year capacity lease agreement with Magellan Pipeline
Company, L.P. (“Magellan”), effective March 1, 2014, covering 100% of
the capacity of TLP’s terminals in Rogers, Arkansas; Mt. Vernon,
Missouri; and its Razorback Pipeline, which runs from Mt. Vernon to
Rogers. “We are very pleased to complete this long term, fee-based
transaction with such a high quality customer like Magellan,” stated
Chuck Dunlap, CEO of TLP. Morgan Stanley was the previous customer and
has been working with TLP over the last year to ensure a smooth
transition to a new customer. The existing agreement for these
facilities with Morgan Stanley will terminate effective February 28,
2014. TLP’s management expects that the new agreement will generate
approximately the same total annual revenue as the Morgan Stanley
agreement.
About TransMontaigne Partners L.P.
TransMontaigne Partners L.P. is a terminaling and transportation
company based in Denver, Colorado with operations primarily in the
United States along the Gulf Coast, in the Midwest, in Houston and
Brownsville, Texas, along the Mississippi and Ohio Rivers, and in the
Southeast.We provide integrated terminaling, storage,
transportation and related services for customers engaged in the
distribution and marketing of light refined petroleum products, heavy
refined petroleum products, crude oil, chemicals, fertilizers and other
liquid products.Light refined products include gasolines, diesel
fuels, heating oil and jet fuels; heavy refined products include
residual fuel oils and asphalt.We do not purchase or market
products that we handle or transport.News and additional
information about TransMontaigne Partners L.P. is available on our
website:www.transmontaignepartners.com.
Forward-Looking Statements
This press release includes statements that may constitute
forward-looking statements made pursuant to the safe harbor provision of
the Private Securities Litigation Reform Act of 1995. Our business and
results of operations are subject to risks and uncertainties, many of
which are beyond our ability to control or predict.Because of
these risks and uncertainties, actual results may differ materially from
those expressed or implied by forward-looking statements, and investors
are cautioned not to place undue reliance on such statements, which
speak only as of the date thereof.Important factors that could
cause actual results to differ materially from the company’s
expectations and may adversely affect its business and results of
operations are disclosed in “Item 1A. Risk Factors” in the company’s
Annual Report on Form 10-K for the year ended December 31, 2012, filed
with the Securities and Exchange Commission on March 12, 2013.
Contacts:
TransMontaigne Partners L.P.
Charles L. Dunlap, CEO,
303-626-8200
or
Frederick W. Boutin, CFO, 303-626-8200
or
Gregory
J. Pound, COO, 303-626-8200
Source: TransMontaigne Partners L.P.
© 2024 Canjex Publishing Ltd. All rights reserved.