Enviva Partners Extends Contracts at Port Panama City
World’s Largest Wood Pellet Producer Will Continue Commitment in Panama City Region
Bethesda, Md. – July 12, 2017 – Enviva, the world’s largest producer of wood pellets, announced that it is extending its contracts with the Panama City Port Authority, the Bay Line Railroad, LLC and SSA Gulf, Inc. through 2023. This commitment to the port and the Panama City region supports operations at the company’s Cottondale facility, which has a production capacity of approximately 720,000 metric tons a year.
Enviva will continue to ship its products through Port Panama City, with two to three ships a month carrying approximately 30,000 metric tons each. The Bay Line Railroad will continue to provide short line freight services, transporting approximately 7,200 railcars per year.
SSA Gulf, Inc. will continue to provide stevedoring services, loading and unloading Enviva’s products at the port.
“We are pleased that Enviva has committed to continue shipping wood pellets from Port Panama City,” said Wayne Stubbs, Executive Director of the Panama City Port Authority. “The wood pellet industry provides tremendous economic benefits throughout the region. We are looking forward to supporting this trade by providing Enviva with a safe and efficient port operation that meets their needs now and for years to come.”
All pellets produced at Enviva’s Cottondale plant are exported from Port Panama City to international customers who use Enviva’s product to reduce lifecycle greenhouse gas emissions. The renewable energy resource is used in power plants across the globe, enabling the reduction of their lifecycle carbon footprint by close to 80 percent.
About Enviva Partners, LP
Enviva Partners, LP (NYSE: EVA) is a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. The Partnership sells a significant majority of its wood pellets through long-term, take-or-pay agreements with creditworthy customers in the United Kingdom and Europe. The Partnership owns and operates six plants with a combined production capacity of nearly three million metric tons of wood pellets per year in Virginia, North Carolina, Mississippi, and Florida. In addition, the Partnership owns a deep-water marine terminal at the Port of Chesapeake, Virginia, which is used to export wood pellets. Enviva Partners also exports pellets through the ports of Wilmington, North Carolina; Mobile, Alabama; and Panama City, Florida.