Kinder Morgan opens BOSTCO oil terminal on Houston Ship Channel


Kinder Morgan Partners (KMP) says commercial operations are underway at phase one of its 185-acre Battleground Oil Specialty Terminal project on the Houston Ship Channel.

Twenty of the 51 storage tanks built during phase one construction are being placed into service this month, and the remaining tanks will come online during the next six months; a two-berth ship dock and 12 barge berths also are scheduled to be in service this month.

The project is a JV of operator KMP and TransMontaigne Partners (TLP), the near-$500M terminal is fully subscribed for a total capacity of 7.1M barrels - including the project's phase two expansion - and can handle ultra low sulfur diesel, residual fuels and other black oil terminal services.

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Comments (8)
  • durango58
    , contributor
    Comments (275) | Send Message
     
    Rich Kinder keeps doing everything right. So glad I'm invested in his companies.
    7 Oct 2013, 05:11 PM Reply Like
  • sarichter
    , contributor
    Comments (587) | Send Message
     
    here here... definitely my largest holding....
    8 Oct 2013, 12:22 AM Reply Like
  • jerrywengler
    , contributor
    Comments (656) | Send Message
     
    Ditto, durango58.
    7 Oct 2013, 05:31 PM Reply Like
  • toomuchgas
    , contributor
    Comments (996) | Send Message
     
    Are they underspending on maintenance yet to make the tanks leak?
    7 Oct 2013, 07:23 PM Reply Like
  • hallereugene@gmail.com
    , contributor
    Comments (588) | Send Message
     
    Can anyone explain why the stocks just keep trending down after the report by Hedgeye and why Charles Schwab has KMI listed as a "D" even before report?
    8 Oct 2013, 05:51 AM Reply Like
  • sarichter
    , contributor
    Comments (587) | Send Message
     
    because the rest of the market it taking a dive dragging KMI down with it...
    8 Oct 2013, 08:41 AM Reply Like
  • sportscliche
    , contributor
    Comments (249) | Send Message
     
    Remember that the majority of market action (I've heard that it may exceed 80% of the daily volume) is due to robotic trading, i.e. computer programs that have never read an analyst report. Real (long-term) investors are well-served by not trying to analyze short-term price action.

     

    I think TLP (current yield: 6.3%) is the intriguing opportunity here, more so than the Kinder companies. Because they are comparatively small, the BOSTCO project will have a bigger impact on their bottom line. Add to that what looks like a trend for consolidation in the MLP space: eg. Kinder's acquisition of El-Paso and Copano. On top of that, it is no secret that TransMontaigne's general partner Morgan-Stanley is shopping the partnership, which looks like a natural fit into the Kinder empire.
    8 Oct 2013, 12:06 PM Reply Like
  • tarheelboy
    , contributor
    Comments (348) | Send Message
     
    Ditto again, Durango!
    8 Oct 2013, 07:25 AM Reply Like
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