OIL TRANSSHIPMENT'S VIA THE BAHAMAS
With a convenient Caribbean location Buckeye Bahamas Hub offers customers economical alternatives and "unmatched flexibility,” their website notes. “Buckeye Bahamas Hub is the leading hub in the Caribbean region and the largest petroleum products terminal in the Western Hemisphere.”
It currently has “over 26 million barrels of storage capacity and 8 berths, including 2 VLCC-capable berths,” the website adds. Storage includes capacity for fuel oil, crude oil and VGO, diesel fuel, and gasoline and components. These products are introduced from positions around the world and kept or blended at Buckeye Bahamas Hub for export, including to regional customers, key import locations in the Americas, and long-haul markets in Asia. Due to the gauge of the location, Buckeye Bahamas Hub is ideally suited for combination, transshipping, and terminalling operations for international trade flows.
Additionally, Buckeye Bahamas Hub “provides certain import and export advantages for our customers, as it is situated within the Grand Bahamas Port Authority Freeport Free Trade Zone area and thus imports to the facility are granted exemption from customs duties.”