The Port of Barranquilla is located south of Pozos, which is the main discharge port for clean products, and north of Covenas, which is a major crude and fuel oil port in Colombia, and Mamonal, another clean products port.

Grupo Coremar and Zenith Energy said on Thursday that both companies were awarded a contract for the construction on the first phase of a new, multi-product liquids terminal in Palermo, Magdalena Department, Colombia.

The terminal will feature a new 50,000 DWT ship dock, six-lane truck racks, as well as accompanying infrastructure.

Palermo Tanks will hold a permitted storage of up to 2.5 million bbl for third party merchant storage, allowing for the acceptance of clean products, crude, asphalt, vegetable oil and petrochemical streams, to and from a 50,000 DWT dock with approximately 12.5 meters of draft alongside.

Engineering work and construction are underway on these initiatives, and commissioning of the new terminal is targeted for the second quarter of 2015.

Grupo Coremar is a maritime, terminals, and logistics group in Latin America, offering customers logistics solutions through proprietary infrastructure and experience.

Zenith Energy is a midstream energy company focused on building, owning and operating terminals and related assets in Latin America, Africa and Europe.