Vitol enters bunkering partnership with GTI Statia

Vitol enters bunkering partnership with GTI Statia

Energy and commodity trader Vitol has entered into a long-term strategic relationship with Prostar Capital-backed GTI Statia (GTIS) storage terminal to operate bunkering services at the terminal.

GTIS is one of the largest independent crude and refined product storage terminals serving the US Gulf Coast and Caribbean markets. Under the agreement, GTIS will continue to provide storage, services and logistics infrastructure.

GTIS says the strategic relationship with Vitol allows the parties to leverage GTIS’ highly flexible infrastructure and Vitol’s global marketing network to expand the GTIS bunker market while continuing to provide high quality service to its existing customer base.

“It is part of Prostar’s continuing strategy to focus on GTIS’ storage operations and to reinvest capital into capacity expansion to meet strong customer demand. Vitol is one of the largest energy traders in the world and is a significant customer at GTIS and at Prostar’s other storage terminals globally. This new initiative will strengthen our relationship with Vitol and will be immediately accretive for both organizations while bringing significant value to GTIS’ customer base in the regional bunker market,” said Dave Noakes, senior managing director of Prostar Capital.

GTIS was acquired by Prostar last year and has 60 commercial tanks with a total storage capacity of 14m barrels.

Vitol trades over 8m barrels per day of crude oil and products and has around 250 ships transporting its cargoes.

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