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NuStar Energy reports that fuels marketing operating income rose by $1,389,000, or 40.5 percent, during the second quarter of 2014 compared to the corresponding period last year.

Operating income for the company's fuels marketing segment was $4,821,000 during the three months ended June 30, 2013, compared to $3,432,000 last year. This was despite a $176,953,000 decline in product sales and other revenue to $493,651,000, down from $670,604,000 in 2013.

In a comparison of the first six months of the year, operating income was $14,379,000 compared to $1,839,000 last year. This was also despite lower sales of $1,114,622,000 compared to $1,443,612,000 in 2013.

In terms of the company's overall results, second quarter net income applicable to limited partners was $43.6 million, or $0.56 per unit, compared to $21.6 million, or $0.28 per unit, in the second quarter of 2013. For the six months ended June 30, 2014, net income applicable to limited partners was $71.7 million, or $0.92 per unit, compared to $34.9 million, or $0.45 per unit, for the same six-month period last year.

Second quarter earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations was $140.1 million compared to second quarter 2013 EBITDA of $114.3 million. For the six months ended June 30, 2014, EBITDA was $266.8 million, compared to $208.5 million for the six months ended June 30, 2013.

Commenting on the results, Brad Barron, President and Chief Executive Officer of NuStar Energy L.P. and NuStar GP Holdings, LLC., said: "All three of our operating segments continued to perform well in the second quarter. In May, we completed Phase 1 of our South Texas Crude Oil Pipeline expansion and set a new single-vessel loading record at our Corpus Christi North Beach Terminal, when we loaded over 750,000 barrels. These were significant milestones for us and contributed to improved results in both our pipeline and storage segments.

"Our coverage ratio in the second quarter was our highest since the third quarter of 2011 and was better than we initially projected. Higher-than-expected throughput volumes in both our pipeline and storage segments, as well as the deferral of some maintenance expenses and reliability capital spending to the back half of 2014 helped drive the coverage ratio to 1.10 times."