World Point Terminals, LP, (WPT), is a fee-based, growth-oriented limited partnership formed to own, operate, develop and acquire terminal assets relating to the storage of light refined products, heavy refined products and crude oil. WPT provides integrated terminal use and storage to oil refiners, distributors, marketers and traders that require access to large, strategically placed storage capacity with efficient access to transportation infrastructure and in close proximity to refineries, demand markets and/or export hubs.
WPT has a strong customer base, which affords recurring base revenues and renewals: "Some of our terminal services agreements currently in effect are operating in the automatic renewal phase of the contract that begins upon the expiration of the primary contract term. While a significant portion of our tankage may only be subject to a one-year commitment, historically these customers have continued to renew or expand their business. Our top ten customers have used our services for an average of more than ten years."
Source: Seeking Alpha
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