These are compared to net earnings of $7.7 million, consolidated EBITDA of $23.3 million and distributable cash flow of $17.4 million for the third quarter of 2015.

TransMontaigne said that it is working on potentially doubling the capacity at its Collins, Miss., oil products terminal.

TransMontaigne is a terminaling and transportation company based in Denver, Colo., with operations in the United States along the Gulf Coast, in the Midwest, in Houston and Brownsville, Texas, along the Mississippi and Ohio Rivers and in the Southeast.

It provides integrated terminaling, storage, transportation and related services for customers engaged in the distribution and marketing of light refined petroleum products, heavy refined petroleum products, crude oil, chemicals, fertilizers and other liquid products. Light refined products include gasoline, diesel fuels, heating oil and jet fuels. Heavy refined products include residual fuel oils and asphalt. TransMontaigne does not purchase or market products that it handles or transports.

“Our business continues to perform extremely well and we were able to achieve record levels of revenue, EBITDA and distributable cash flow for the first nine months of 2016,” said Fred Boutin, CEO of TransMontaigne.

Operating income for the third quarter was $13.6 million compared to $10.1 million for the quarter ended Sept. 30, 2015.

Revenue increased approximately $3.4 million to $40.6 million due to increases in revenue at the Gulf Coast, River and Southeast terminals of approximately $1.8 million, $0.4 million and $2.2 million, respectively, partially offset by a decrease in revenue at the Midwest and Brownsville terminals of approximately $0.4 million and $0.6 million, respectively.

Boutin expects the first portion of its $75 million fee-based and fully contracted Collins terminal expansion to be in service next month and the remaining portions to be in service before the end of the second quarter of next year.

TransMontaigne previously entered into long-term terminaling services agreements with various parties for approximately 2.0 million barrels of new storage capacity at its Collins/Purvis, Miss., bulk storage terminal.

The revenue associated with these agreements will come on line upon completion of the construction of the new tank capacity, which remains on target for completion during the fourth quarter of 2016 through the second quarter of 2017.

The anticipated cost of the new storage capacity is approximately $75 million and is expected to generate annual cash returns in the high teens. Construction of the Collins/Purvis expansion project commenced in the first quarter of 2016, and the partnership spent approximately $30.4 million as of Sept. 30, 2016.

Its Collins/Purvis terminal is located for the bulk storage market and is the only independent terminal capable of receiving from, delivering to, and transferring refined petroleum products between the Colonial and Plantation pipeline systems.

Its facility has current active storage capacity of about 3.4 million bbl and is expected to increase to 5.4 million bbl once the 2-million-bbl expansion is completed.

TransMontaigne has also begun the process of permitting an additional 5 million bbl of new capacity at its Collins/Purvis terminal and is in active discussions with several potential customers regarding this potential future capacity.