In business, being in the right place at the right time is often a matter of the right strategy. A great example is Vecenergy’s new diesel fuel terminal at South Florida Materials, its Port of Palm Beach facility. It is the only such diesel terminal between Port Canaveral and Port Everglades on Florida’s east coast.
With two double-walled tanks holding more than six million gallons of low-sulfur and ultra low-sulfur diesel fuel, the expansion adds to the four liquid asphalt tanks the Vecellio Group built in 2004 to complete vertical integration of its heavy/highway operations.
“Adding a diesel terminal was the next logical step,” said Christopher Vecellio, who heads the division. “Diversification helps insulate the Group from the ups and downs of the market.” More than 150 guests joined Port of Palm Beach officials at a December luncheon to welcome the new terminal, which operates under a long-term supply agreement with Valero, the nation’s largest refiner.
“It’s a real boost to the local economy,” said Lori Baer, Executive Director of the Port, adding that it will be a local source for diesel if out-of-town supplies are disrupted by a hurricane.