“Our operating and financial performance has proved itself to be resilient in a variety of different commodity price environments. We continued to look to capitalize on any opportunities that emerge in the market due to changing pricing dynamics such as the expectation of contango and distillers in the second half of 2015,” said Rob Nijst, CEO of VTTI Energy, during the company’s first-quarter earnings call.

“Our current growth plans in the early years are based primarily on drop-downs of existing assets within the VTTI Group with over three times the existing capacity available. This will be supplemented by third-party acquisitions in the fragmented international terminal market as well as attractive organic growth projects,” he said.

VTTI Energy Partners is expected to receive its first asset drop-down from its general partner before August.

VTTI Energy Partners’ general partner is owned by Vitol and MSIC of Malaysia. It has a 35.5 million-bbl oil storage capacity worldwide, including Seaport Canaveral, Fla., Rotterdam, Antwerp, Amsterdam, Fujairah and Johor.

VTTI Energy Partners LP is a publicly traded master limited partnership formed in April 2014 by VTTI B.V. to own, operate, develop and acquire refined petroleum product and crude oil terminaling and related energy infrastructure assets on a global scale.

VTTI Energy Partners successfully completed an initial public offering at $21 per unit in August 2014.

Nijst also said that there are more logistics assets in the market for sale because of the current low oil prices. VTTI Energy Partners is looking at the entire range of available major and small assets for sale, he said.

“You do see a lot of upstream companies that are getting more into a direction of selling some of the mid- and downstream business,” Nijst said, adding it is difficult to say if the higher selling interest could translate to more deals getting done.

VTTI’s total operating income for the first quarter ended March 31, 2015, was $26.3 million, while net income was $15.7 million.

Adjusted EBITDA for the first quarter ended March 31, 2015, was $50.9 million and the partnership generated $11.6 million of distributable cash flow, exceeding the forecasts at the time of the IPO of $49.2 million and $11.5 million, respectively.

“Our strong performance in the first quarter was in line with expectation and was achieved despite the ongoing volatility in commodity and foreign exchange markets, demonstrating the stability of our business model and sound financial management,” Nijst said.

“Our future profitability and ability to pay an increased distribution is driven by growing product demand levels and the regional supply and demand energy imbalances that we continue to see in the global marketplace,” he said.