Port Commissioners Approve Lease Agreement with Martin Operating Partnership, LP, for Vessel Staging Operations

Corpus Christi, TX – The export market for Eagle Ford Shale crude oil has significantly increased the demand for oil dock facilities at the Port of Corpus Christi. The PCCA’s Public Oil Docks 1 and 2 are particularly in high demand due to their proximity to the tank farm facilities owned by NuStar and Martin Operating Partners, LP and the lease agreement will increase the amount of cargo shipped across these two docks.

“Staff has been working with our customers to develop new facilities, renovate older docks, and maximize the efficiency of our dock operations. to facilitate the outbound movement of crude oil related to Eagle Ford Shale. ” Said John LaRue, Executive Director.

The short-term Lease Agreement will utilize the adjacent Cargo Dock 10 to stage vessels waiting to use Oil Docks 1 and 2. By pre-staging vessels at Cargo Dock 10, Martin and their customers will be able to reduce the time when cargo is not being loaded at Oil Docks 1 and 2. This non-productive time period occurs between the time a vessel departs the dock and the time when the next vessel arrives to begin cargo transfer. The lost time (an average of four to six hours) can be cut in half by pre-staging vessels at Cargo Dock 10.

The Lease Agreement is for $40,000 per month for leasing the slip at Cargo Dock 10 or the actual dockage paid by Martin and other Martin-designated Oil Dock 1 and 2 customers per month when Cargo Dock 10 is used for staging vessels for Oil Docks 1 and 2. The agreement also recognizes that Cargo Dock 10 presently is, and will continue to be, subject to preferential use by Sam Kane Beef Processors, the current lessee of the PCCA’s Refrigerated Storage Facility located at Cargo Dock 10.