January 24, 2024 [Star News Online]- Colonial Terminals, Inc., the largest, independent liquid and dry bulk storage facilities in the Southeast, and a division of Georgia-based company, Colonial Group, Inc., recently purchased a bulk liquid terminal at 1312 Front St. in Wilmington.
The facility was formerly owned by Buckeye Terminals, LLC — a company that owns and operates petroleum products and carrier pipeline networks.
Located on the Cape Fear River, the newly acquired terminal has around 550,000 barrels of storage capacity. Colonial Terminals already owns an existing terminal that they purchased in the mid-’90s and now sits adjacent to the new purchase, making the combined storage of the entire complex over 1 million barrels of liquid storage.
“This adjacent facility adds a new berth and substantial river frontage to our already large footprint on the Cape Fear River, and we’re eager to offer new capabilities for existing customers as well as attract new customers and products to the market,” said Ryan Chandler, president of Colonial Terminals.
Colonial Terminals plans to maintain all local employees who operated the facility before the acquisition to handle the products stored there, which include industrial chemicals, specialty chemicals, petroleum and more.
“Wilmington is a gateway to the growing Southeastern US market, and we believe this acquisition strongly positions our team to support current and new customer growth far into the future,” Chandler said.
According to Colonial Terminals, the newly combined storage complex is intended to offer marine, truck and rail access into the Southeastern portion of the states. This is because, along with the now 1 million barrels of storage, with the new acquisition the company covers 70 acres and half a mile of river frontage.
Tara Nobles, of Colonial Group, said that in the future, Colonial Terminals expects to add edible oils, renewables, and industrial and specialty chemicals.
“The terminal serves industries ranging from transportation to pharmaceuticals to consumer foods. While we currently only handle bulk liquids, Colonial sees an opportunity to expand into dry bulk goods as well,” Nobles said.
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