Pin Oak Corpus Christi loads 1st vessel at new oil dock
Pin Oak Corpus Christi, a joint venture between Dauphine and commodities trader Mercuria Energy Group, received its first vessel Wednesday at its newly commissioned oil dock at the Port of Corpus Christi.
The dock, capable of accommodating fully laden bulk liquid tankers up to Suezmax class with loading rates in excess of 40,000 barrels per hour, was inaugurated by the 2005-built Aframax tanker Pacific Dawn.
The 105,700 dwt tanker is part of Teekay Axramax Pool, according to the data from VesselsValue.
The dock construction was a joint effort between the Port of Corpus Christi Authority and Pin Oak Terminals. The Port Authority constructed the dock, mooring structures and executed dredging while Pin Oak installed the topside handling equipment, the storage facilities, and the common carrier pipeline interconnects.
“We set out on this course roughly two years ago to execute on a significant capital development program in conjunction with the Port of Corpus Christi to create a world-class multi-modal terminal company,” said Corey Leonard, Chief Executive Officer of Pin Oak.
“Bringing Oil Dock 14 online for Suez-max class vessels is a key component of our strategy, and this week’s achievement marks a significant milestone in our efforts to become the premier terminal and logistics company in the South Texas market.”
“As the Energy Port of the Americas, it is more vital now than ever that we continue to help facilitate commerce to help our nation and the rest of the world on the road to recovery,” said Charles W. Zahn, Chairman of the Port of Corpus Christi Commission.
Pin Oak Corpus Christi owns and manages the Pin Oak Corpus Christi and Pin Oak Taft Terminals.
Pin Oak’s Corpus Christi Terminal has 3.8 million barrels of heated and unheated storage (increasing to 5 million barrels) connecting to Suezmax capable docks.
In January 2019, Pin Oak acquired 236 acres near its terminal in Corpus Christi to provide additional storage for bulk liquids in excess of 10 million barrels.
The site is set to be connected through a short distance pipeline to the main site on the Corpus Christi Ship Channel and it is situated next to the main rail line and Corpus Christi rail yard.
Pin Oak’s Taft Terminal commenced construction on 1.7 million barrels of crude oil tankage, along with pipeline interconnections to EPIC, Red Oak, and Gray Oak Pipelines last year.
The terminal is aimed at complementing Pin Oak’s Corpus Christi Terminal with an approximately 4 million barrel storage facility, featuring export-capable Suezmax and MR docks.