Enviva Partners extends contracts at Port Panama City through 2023

Enviva Partners announced an extension of its contracts with the Panama City Port Authority, the Bay Line Railroad and SSA Gulf through 2023. According to the announcement, the commitment to the port and the Panama City region is expected to support operations at the company’s Cottondale facility, which has a wood pellet production capacity of approximately 720,000 metric tons a year.

With the contracts’ extension, 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 will continue to provide stevedoring services, loading and unloading Enviva’s products at the port.

Wayne Stubbs, Executive Director of the Panama City Port Authority, commented:

“We are pleased that Enviva has committed to continue shipping wood pellets from Port Panama City. 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.

Earlier Enviva Partners acquired deep-water marine terminal in Wilmington in the US.

About Enviva Partners:

The company  is a publicly traded master limited partnership that aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. It sells a significant majority of its wood pellets through long-term, take-or-pay agreements with creditworthy customers in the U.K. and Europe. Enviva Partners  owns and operates six plants in Southampton County, Virginia; Northampton County and Ahoskie, North Carolina; Amory and Wiggins, Mississippi; and Cottondale, Florida  having a combined production capacity of approximately 2.3 Mt of wood pellets per year. 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 Mobile, Alabama and Panama City, Florida.

Source: Woodbizforum