Maritime, terminals and logistics group Grupo Coremar and terminal building and operations company Zenith Energy announced the award of a contract for the construction of phase one of a multi-product liquids terminal called Palermo Tanks in the Port of Barranquilla in Colombia. Phase one of the project includes a new 50,000 deadweight tonnage ship dock, six lane truck racks and accompanying infrastructure, and will allow for 528,000 barrels (bbl) of refined and crude oil storage.

Palermo Tanks will hold a permitted storage of up to 2.5 million bbl for third party merchant storage at the site, allowing for acceptance of clean products, crude, asphalt, vegetable oil and petrochemical streams to and from the new dock with about 12.5 meters of draft alongside. Engineering and construction are underway on the project, and commissioning of the new terminal is expected in second-quarter 2015.