From Wells Fargo......
Tankers: Kinder Morgan Investing $170MM To Expand Houston
Tanker Terminal. On January 14, Kinder Morgan Energy Partners (KMP, Not
Rated) announced that it would invest $170MM to expand its Houston Tanker
terminal network. The project includes the purchase of 42 acres, a new ship dock,
and 1.2M barrels of liquid storage, which Kinder Morgan expects to provide
additional export capacity (up to 12 vessels per month). Increasing U.S.
production has provided greater scope for product exports, which we expect to
continue to contribute to a gradual recovery in the product tanker segment.