August 9, 2016 [OPIS] - Lincoln Energy Solutions, an eastern U.S. oil products, biofuels marketing and logistics company, has expanded CBOB storage capacity at its Fredericksburg, Va., terminal, and it has also added RBOB and PBOB at that Mid-Atlantic location, Josh Henderson, chief operating officer of Lincoln, told OPIS.
The total capacity at Fredericksburg was expanded from 150,000 bbl to 250,000 bbl recently. The inclusion of RFG products widens Lincoln’s product slate and offers more products flexibility. Fredericksburg is served via Plantation Pipe Line.
In addition to the terminal expansion, Lincoln recently hired an experienced supply and trading executive to support its continued expansion plans, Henderson said.
Michael Ferguson assumes a newly created position as director of risk management at Lincoln, which is located in Greenville, S.C.
Prior to joining Lincoln, Ferguson held multiple roles in Murphy USA’s supply and trading division and most recently was a commodities trader at Murex. In his new role, Ferguson will further refine Lincoln’s risk management expertise and will play a key role in identifying and executing supply opportunities primarily in the biofuels arena.
“Lincoln has experienced significant growth in our biofuels and logistics businesses. Michael’s background enhances our risk management capabilities and his recent focus on renewable fuels brings Lincoln an added level of granularity and optimization from producer to end user. Michael’s knowledge and skills advances our primary goal of providing supply and transportation solutions to our customers,” Henderson said.
Lincoln markets as well as trades biofuels across the Eastern U.S. through proprietary and third-party facilities. It is a regular shipper on Colonial and Plantation pipeline systems, and it is also expanding its rail deliveries to increase flexibility and diversification.
In February, Lincoln acquired the Eco terminal (former Crown) in Charlotte, N.C. Besides Charlotte and Fredericksburg, Lincoln owns and operates one more terminal at Chattanooga, Tenn., and it is building a storage/rail facility at Chattahoochee, west Atlanta.