FOR IMMEDIATE RELEASE
Mt. Airy, Louisiana – Pin Oak Holdings, LLC (“Pin Oak” or the “Company”) is pleased to announce that it has executed an Engineering, Procurement, and Construction (“EPC”) contract with Massman Construction Co. (“Massman”) to build Pin Oak Terminal’s first dock and related equipment. Massman, a family owned and operated company, brings over 100 years of construction experience to the project and has a strong reputation to build the dock safely and on schedule. Pin Oak chose Massman after a rigorous decision process and is confident that their staff will adhere to the strict safety requirements that govern Pin Oak’s operations. Pin Oak will begin construction of the dock in June with it fully operational by May 2017.
Pin Oak’s first dock will be capable of loading industry standard Suezmax vessel given its 900 ft. dock capacity and will have up to six barge berths. Designed flow rates will be upwards of 30,000 bbl/hr making Pin Oak’s dock one of the newest and fastest docks in the country, which greatly reduces demurrage rates for its customers. The dock will be able to efficiently move heated and non ‐ heated products, refined products, crude, chemicals, and LPGs and will ensure Pin Oak remains a major transportation hub with competitive advantages for many years to come. Pin Oak’s second dock is permitted and will be constructed in the future.
“Massman is a world class EPC organization and its experience building ship docks on the Mississippi River is one of the main reasons we chose to partner with it,” said Mike Reed, CEO of Pin Oak. “Once the dock is fully constructed it will offer our customers a complete package that will ensure their product moves at high flow rates while maintaining safety and product integrity. We understand that our customers face high demurrage rates on the Gulf Coast and we want to ensure they can save money by storing product at our first class facility.”
Christian O’Neil, Pin Oak Board member and COO of Kirby Marine Transportation said “This is a major milestone for Pin Oak and given my experience operating vessels and barges throughout the U.S. this dock will be one of the most efficient and fastest docks in the country.”
“We are very excited to secure this contract and work with Pin Oak and their team in helping bring this project to fruition.” Said Paul Scharmer, Vice President of Operations for Massman. “It will be a big boost for the local economy and for our local workforce who live in the area.”
About Pin Oak
Pin Oak is a terminal company and is constructing a liquid and chemicals storage terminal, Pin Oak Terminals, on 431 acres along the Mississippi River in Mt. Airy, Louisiana. Pin Oak Terminals provides its customers with complete optionality through rail, ship, pipeline, and truck access. It will serve North America’s growing crude, refined product, and chemical industries and is strategically located next to major supply networks, demand centers, and provides desirable export capacity. Pin Oak will look to expand its footprint through the development or acquisition of additional terminals throughout North America.
Massman has been an EPC contractor on hundreds of marine construction projects along the Mississippi River, inland waterways and along the Gulf Coast. Massman has achieved consistent success on these projects by developing innovative construction techniques, using their extensive fleet of specialized marine and heavy lift equipment and with their many long term, highly skilled professionals and craft workers. Massman recently completed several dock projects just upriver from the Pin Oak facility, as well as major bridge projects like the Huey P. Long Widening in New Orleans, the new Biloxi Bay Bridge in Mississippi and the new Stan Musial Cable ‐ Stayed Bridge across the Mississippi River in St. Louis. Pin Oak
Contact: Tammy Milioto (985) 224 ‐ 7223