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Pin Oak Executes Dock and Tank EPC Construction, Announces New VP of Operations

Pin Oak Holdings, LLC is pleased to announce that it has executed an Engineering, Procurement, and Construction (“EPC”) contract with Massman Construction Co. (“Massman”) to build Pin Oak Terminal’s first dock and related equipment. Massman, a family owned and operated company, brings over 100 years of construction experience to the project and has a strong reputation to build the dock safely and on schedule. Pin Oak chose Massman after a rigorous decision process and is confident that their staff will adhere to the strict safety requirements that govern Pin Oak’s operations. Pin Oak will begin construction of the dock in June with it fully operational by May 2017.

Pin Oak’s first dock will be capable of loading industry standard Suezmax vessel given its 900 ft. dock capacity and will have up to six barge berths. Designed flow rates will be upwards of 30,000 bbl/hr making Pin Oak’s dock one of the newest and fastest docks in the country, which greatly reduces demurrage rates for its customers.

The dock will be able to efficiently move heated and non-heated products, refined products, crude, chemicals, and LPGs and will ensure Pin Oak remains a major transportation hub with competitive advantages for many years to come. Pin Oak’s second dock is permitted and will be constructed in the future.

“Massman is a world class EPC organization and its experience building ship docks on the Mississippi River is one of the main reasons we chose to partner with it,” said Mike Reed, CEO of Pin Oak. “Once the dock is fully constructed it will offer our customers a complete package that will ensure their product moves at high flow rates while maintaining safety and product integrity. We understand that our customers face high demurrage rates on the Gulf Coast and we want to ensure they can save money by storing product at our first class facility.”

Christian O’Neil, Pin Oak Board member and COO of Kirby Marine Transportation said “This is a major milestone for Pin Oak and given my experience operating vessels and barges throughout the U.S. this dock will be one of the most efficient and fastest docks in the country.”

“We are very excited to secure this contract and work with Pin Oak and their team in helping bring this project to fruition.” Said Paul Scharmer, Vice President of Operations for Massman. “It will be a big boost for the local economy and for our local workforce who live in the area.”

Pin Oak Executes Tank EPC with Smith Tank & Steel

Pin Oak Holdings, LLC (“Pin Oak”) is pleased to announce that it has executed an Engineering, Procurement, and Construction (“EPC”) contract with Smith Tank & Steel, Inc. (“Smith”) to construct more than 2 million barrels of tank capacity with an option for more in order to be operational by the middle of 2017.

Smith, a family owned and operated company, brings national experience constructing tanks on a turn-key basis and is one of the leading tank construction companies in the U.S. Smith, coupled with Massman Construction on the Dock, ensures the terminal is built safely and on schedule.

Pin Oak is constructing tanks to meet its customer contracts, which initially include the following products: Gasoline, Gasoline Blendstock, Ethanol, VGO, and Fuel Oil. The terminal will be able to add additional product types as new contracts are executed. Pin Oak is permitted and capable of handling more than 10 million barrels of product.

“Smith is one of the leading EPC U.S. tank builders and its experience and knowledge constructing tanks in Louisiana and Texas will be invaluable to the construction and operations of our project,” said Mike Reed, CEO of Pin Oak. “Our tanks designs will offer many service options to our customers and ensures that Pin Oak will maintain a strong competitive advantage over its competitors. Smith is a major Louisiana company and we are excited to partner with a local company to bring additional jobs and commerce to the state.”

”We are excited to be able to provide our services for this project. Pin Oak is not only a great project for Smith Tank as a company but a great project for Louisiana and the town of Mt. Airy. The jobs that this project will provide now and in the future are great for the local economy.

With our corporate office, state of the art fabrication facility and equipment only minutes from the site, we will construct the facility in record time ensuring the terminal is built safely, and to the highest quality. I am glad to be a part of Pin Oak’s future success,” said Billy Smith, President of Smith Tank & Steel, Inc.

Carlos Munguia, former Executive at Kinder Morgan, Joins Pin Oak as VP of Operations

Mt. Airy, Louisiana – Pin Oak Holdings, LLC (“Pin Oak” or the “Company”) is pleased to announce that Carlos Munguia has been appointed Vice President of Operations of the Company, effective immediately. Mr. Munguia joins Pin Oak after a 30+ year career in the terminal business and recently held the post of Vice President of Operations for the Northern Area (Midwest and Northeast Regions) at Kinder Morgan Inc. Mr. Munguia brings an extensive background designing, constructing, and operating marine and pipeline connected liquid terminals and successfully managed construction and operations of numerous terminals across the U.S.

“Carlos is the ideal candidate for Pin Oak in that he has a long and successful background in construction and operations which ensures that Pin Oak Terminals will be constructed on schedule and to the specifications our customers and the market desire,” said Mike Reed, CEO of Pin Oak. “We are excited to bring this level of experience onto the executive team and know that Pin Oak Terminals will be the ideal hub for customers on the Mississippi River and the Gulf Coast.”

Mr. Munguia commenting on his arrival, “What Pin Oak is building in Louisiana and North America is a true midstream platform and a sustainable terminal logistics business that will be the premium location for customers,” said Mr. Munguia. “The same strict standards I have historically implemented will be brought to Pin Oak, which includes high safety and operational requirements to ensure the protection of our employees and the community and giving our customers optimal performance.”