TransMontaigne Partners L.P. (NYSE TLP) Wells Fargo 2013 12th Annual Energy Symposium December 10th, 2013
Company Overview
Overview of TLPs Business Primary operating regions: Key Partnership Metrics US Gulf Coast; Southeast; Midwest; ( in millions) Houston and Brownsville, Texas; and NYSE: TLP along the Mississippi and Ohio Rivers. 1 Market Cap : 679.2…
Area of Operations 5
Business Highlights Stable, fee-based cash flows from terminaling services agreements. Term contracts with customers. No material direct commodity price risk. Current size results in significant accretion potential from relatively…
Key Customer Relationships U.S. Government 7
Terminal Capacity Active Shell Capacity Geographic Region Number of Terminals Other Key Assets (Barrels) Gulf Coast 8 6,937,000 Midwest 4 1,569,000 Razorback Pipeline Brownsville * 2 2,355,000 Diamondback & Ella-Brownsville…
Bostco Overview Bostco is currently constructing a new black oil terminal in the Houston Ship Channel with approximately 7.1 million barrels of capacity (Phase I and Phase IA) and a total expected capital investment of approximately…
Houston Ship Channel Refinery Complex In 2011, Texass 26 petroleum refineries had a capacity of over 4.7 million barrels of crude oil per day and accounted for 27 percent of total U.S. refining capacity. 10
Bostco Phases Phase II, with an additional 3 million barrels of black oil and distillate storage, is in the early planning stages and could cost approximately 250 million. Approximate TLP's share Capacity total cost of total…
Growth Opportunities Drop downs from TransMontaigne Inc. Ethanol systems in the Southeast. Hydrant system in Port Everglades. Available capacity at River terminals. Butane blending at multiple locations. Conversion of the…
Results of Operations Three Months Ended (in thousands) Sept. 30, Dec. 31, Mar. 31, June 30, Sept. 30, 2012 2012 2013 2013 2013 Revenue: Terminaling services fees, net 30,167 30,688 30,725 29,324 28,682 Pipeline transportation fees…
Structure of Terminaling Services Agreements Three Months Ended (in thousands) Sept. 30, Dec. 31, Mar. 31, June 30, Sept. 30, 2012 2012 2013 2013 2013 Firm commitments: Terminaling services fees, net: External customers 8,300 8,308…
Duration of Firm Commitments The remaining terms on the terminaling services agreements that generated firm commitments for the three months ended September 30, 2013 were: At Sept. 30, 2013 Less than 1 year remaining 5,700 1 year or…
Quarterly Distribution History 0.75 60 0.65 50 0.55 40 0.45 30 (1) 0.35 20 0.25 10 0.15 - Quarterly distribution per unit (left axis) Unit price (right axis) 19
Distribution Coverage Three Months Ended (in thousands) Sept. 30, Dec. 31, Mar. 31, June 30, Sept. 30, 2012 2012 2013 2013 2013 Distributable cash flow 15,341 10,219 17,834 13,471 13,500 Total distributions 10,596 10,596 10,596…
Organizational Structure
Ownership Structure Morgan Stanley Public Unitholders and Affiliates 100% Interest TransMontaigne Inc. and Affiliates 76% 19% Interest Interest 100% Interest (Limited (Limited 2% Interest TransMontaigne GP L.L.C. Partner)…
Business Activities MSCG is the principal commodities trading arm of Morgan Stanley. Its trading Morgan Stanley and risk management activities cover a broad spectrum of the energy industry and Affiliates with extensive resources…
Key Considerations Leading presence in five core geographic regions. High Quality, Term contracts with high-quality industry participants. Diversified Assets Focus on fee-based contracts with commitments. Limited direct commodity…
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