VLCC Terminal to be Created in Caribbean

Connecticut-headquartered Prostar Capital has indicated it will invest $100 million to modernize and expand a deepwater petroleum terminal located on the Dutch island of St. Eustatius it acquired from San Antonio-based NuStar Energy last year to load Very Large Crude Carriers (VLCCs).

The expansion work, to include storage tank upgrades and improvements to jetties and docks, will allow customers to move crude oil in and out of the United States to world markets using VLCCs, which can haul 2 million barrels of oil in a single load.

By Pacific Maritime