BORCO is the leading hub oil terminal in the region. We currently have over 21 million barrels of storage capacity and 8 berths. We provide storage tanks for customers to store gasoline, diesel, crude, fuel oil and related products. These products are imported from around the globe at key refineries or oil hubs and stored here for export mainly to regional countries and some distant ones for ultimate consumption. This location is ideally suited for blending, transshipping and terminaling operations for the Arabian Gulf, Northwest Europe and West Africa trade to the United States' Gulf Coast and East Coast, as well as for North America trade to Europe, Latin America and Pacific.
Buckeye's International terminal facilities provide certain import and export advantages for our customers.
In The Bahamas, our facility is situated within the Grand Bahama Port Authority Freeport Free Trade Zone area. Imports to the facility are granted exemption from customs duties. The economic advantages of participating in a Free Trade Zone are:
- Increasing cash flow - Duties on arriving product to the BORCO Free Trade Zone are deferred until the product leaves the facility for island destinations.
- Eliminating duty - Imported products brought into the BORCO Free Trade Zone and subsequently exported never enter the Bahamian Customs territory, and are therefore exempt from duty.
BORCO operates under a license with the Grand Bahama Port Authority.
Customers can benefit from BORCO's use of the Free Trade Zone for imports of petroleum products for storage within the facility.