Haiti-Based WIN Group, SEACOR Holdings Begin Emergency Project To Restore Import Capability At Haiti's Major Bulk Fuels Terminal
FORT LAUDERDALE, Fla., Jan. 25 /PRNewswire-FirstCall/ -- WIN Group, the Haitian conglomerate that owns and operates Terminal Varreux in Port-au-Prince, situated just five miles from the epicenter of the January 12 earthquake, and SEACOR Holdings Inc. (NYSE: CKH) (SEACOR) have launched an emergency response project to enable the crucial marine terminal to resume receiving bulk fuel and containerized cargoes thereby replenishing the stricken country's rapidly dwindling supplies of gasoline, diesel fuel, fuel oil, propane gas and edible oils used for cooking.
Terminal Varreux receives and stores in excess of 70% of Haiti's fuel oil used for power plants, gasoline and diesel used for land-based fueling stations, propane used for multiple applications and edible oils used for cooking. Terminal Varreux has a minimum of 18 large storage tanks with a total capacity of approximately 45 million gallons.
Terminal Varreux has been unable to unload any tankers since the January 12 earthquake destroyed the marine docking facilities and damaged a complex network of steel pipe connecting the marine operation to the tank storage area.
"SEACOR has agreed to provide the emergency support we need to return Terminal Varreux to operation in order to help us keep Haiti supplied with critically needed fuel. Their assistance in getting our marine operation stabilized and back to work, constructing a new temporary section of piping to connect Terminal Varreux's mooring facilities and the usable storage tanks and insuring the safe return of our storage tank operations is invaluable," said Youri Mevs, managing partner of WIN Group." Haiti needs to receive fuel supplies rapidly in order to avoid a shortage that would create panic and hamper the ongoing relief effort. The Haitian government is asking us to secure repairs of the facility as rapidly as possible in order to enable Terminal Varreux to receive supplies and equipment urgently needed in Haiti. While supplies and equipment are crucial, at the end of the day this is about saving lives first, and taking care of business later," Mevs concluded.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV