August 6, 2018 [Bulk Transporter] - Ikon Midstream says it will provide high-quality blended fuels “at a lower price point than competitors” at its newly established fuel terminal in Laredo TX.
The fuel-blending company, which owns a patent on gasoline detergents, is the first independent blender to cross gasoline into Mexico, and the new privately held terminal is the first of its kind in Laredo, the company said.
“We are excited to launch the first fuel terminal of Laredo,” said Rhett Kenagy, CEO and managing partner of Ikon Midstream.
“We observed that the city lacks a fuel terminal and the fuel distributors here usually have a hard time in sourcing fuels. The lack of competition also offers an open market for us to scale up our growth in the region. We promise high end blended fuels at competitive prices for the local US distributors here who cater to a large client base in Mexico.”
Ikon specializes in buying and blending gasoline and diesel fuel from raw materials sourced from Houston-based refineries. As a registered supplier into Mexico, the company supplies all NOM 16 approved ULSD, High Sulfur Diesel, Gasoline, bio-diesel and LPG to the Mexican market through its unloading stations in Mexico. Ikon is registered through SAM with the federal government.
To meet the growing demand for blended fuel, Ikon currently is in an “expansion spree,” growing its production capacity from 20 fuel trucks a day to 100 a day. In line with its expansion, Ikon recently moved to a new address in Houston, which now is its new corporate location.
“Mexico is now deregulated for the first time and fuel is not controlled by their government anymore,” Kenagy said. “Our Laredo terminal will enable more Mexican distributors to import their own fuel easily from now on.”
Ikon says its focus on blending fuels at higher specifications than required by the government separates it from competitors. According to Kenagy, it’s their collaboration with raw material suppliers that enables them to provide premium products at affordable rates. Under Kenagy’s leadership, Ikon’s market share in Mexico grew 12 percent in the first quarter of 2018, the company said.
Ikon Midstream’s Houston terminal houses seven fuel storage tanks with a collective capacity of 160,000 barrels of product (6,720,000 gallons). In regard to blending services, the company holds three automated diesel and bio-diesel loading stations. Two of the three bays are backed by a recently updated automated bottom loading facility.
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