Prostar Capital’s GTI Statia (GTIS) storage terminal has entered into a long-term strategic relationship with Vitol Inc., a Dutch energy and commodity trading company.
Under the partnership, Vitol will operate the marine fuel bunker supply business at the GTIS terminal. GTIS, one of the largest independent crude and refined product storage terminals serving the U.S. Gulf Coast and Caribbean markets, will continue to provide storage, services and logistics infrastructure as before.
GTIS is a major player in the bunker fuel market, serving customers in the cruise and cargo shipping industries.
Steve Bickerton, senior managing director at Prostar, said the transaction builds on a $100 million capital investment plan for the terminal the company announced in March.
“This strategic relationship allows the facility to focus on being a world-class terminal operator and will leverage our strategic vision to enhance the service, quality and value of the facili
