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The Vitol Group has announced the opening of the Seaport Canaveral Terminal on the east coast of Florida.

The state-of-the-art terminal, built at a cost of around $130 million, will deliver an independent supply of petroleum products to the local market.

The terminal has a storage capacity of just under 3 million barrels of refined products in 24 tanks for fuel oil, gasoline, diesel, biodiesel, jet fuel. It will also have transportation infrastructure for the loading of barges, seagoing vessels and trucks.

The terminal has two jetties and a maximum draft of 12 meters. It will also be linked to a pipeline to serve cruise ships at Port Canaveral.

Commenting on the launch of the new terminal, Vitol Inc. President Mike Loya said "The Seaport Canaveral Terminal gives Vitol a significant new capacity in its American operations, allowing us to source products from around the world and deliver gasoline and other fuel products to the U.S. market. Just as importantly, the terminal brings more competition to the Florida market and increases energy security for the state by providing a new, dedicated supply of oil products.

"The Seaport Canaveral Terminal will have a significant impact on the state of Florida," added Loya. "It has been the vision of Port Canaveral CEO Stan Payne and the Port Canaveral Commissioners to work with Vitol to design, build, and launch this new terminal. We could not have asked for a better partnership and are delighted to see the vision turn into reality."

Merlin Figueira, the General Manager at Seaport Canaveral commented: "I am confident in Vitol's ability to compete and deliver a high quality product. The terminal is sure to benefit all involved throughout Florida and the U.S. and is another sign of Vitol's growing commitment to bringing energy to the U.S. market."