Colonial Group
colonial_buckeye_acquisition_photo

Colonial acquires Buckeye’s Cape Fear terminal

Dec. 4, 2023
Addition of bulk liquid terminal in Wilmington, North Carolina, includes 550,000 barrels of storage capacity with riverfront access

Colonial Terminals (CTI), a division of Savannah, Georgia-based Colonial Group, recently acquired a bulk liquid terminal owned and operated by Buckeye Terminals on Cape Fear River in Wilmington, North Carolina.

The site, located adjacent to an existing CTI terminal, includes 550,000 barrels of storage capacity.

The combined complex will boast more than 1 million barrels of bulk liquid storage offer marine, rail, and truck access into the fast-growing Southeastern United States, CTI reported.

“Colonial Terminals is committed to growth in markets that support our team’s ability to deliver the highest levels of service to customers who value supply chain dependability and efficiency,” Ryan Chandler, CTI president, said in a news release. “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.”

The acquisition increases CTI’s storage infrastructure in Wilmington to 70 acres and more than a half-mile of river frontage, the company said. Products stored at these facilities include industrial chemicals, specialty chemicals, petroleum, and others. CTI will retain all employees who currently operate the acquired facility.

“Wilmington is a gateway to the growing Southeastern U.S. market, and we believe this acquisition strongly positions our team to support current and new customer growth far into the future,” Chandler maintained.

With the addition of the new facility, CTI now operates seven terminals, five in Georgia and two in Wilmington, with a total liquid capacity of approximately 8 million barrels and a total dry capacity of approximately 200,000 tons of vertical storage, 400,000 sq. ft. of covered flat storage, and significant outside storage acreage.