Calumet Specialty Products Partners, L.P. Announces Feasibility Study for Crude Oil Shipping.
Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) ("Calumet") announced it will explore the feasibility of building and operating a crude oil loading dock on Lake Superior, near its Superior, WI refinery, designed to load ships with heavy Canadian and light Bakken crude oil for shipment through connecting waterways.
"Calumet is currently assessing the viability of the project and gauging interest in the marketplace. We would expect to have this project fully operational during the shipping season of 2015 and are currently in talks with potential customers and partners," said Todd Borgmann, VP of Business Development at Calumet.
Jennifer Straumins, President and COO of Calumet stated, "This exciting project would further diversify Calumet's refining, specialty, and packaged products businesses by adding an additional revenue source. The project would also provide connected refineries with another form of access to heavy Canadian and light Bakken crude oil."