Buckeye Caribbean Terminal's Yabucoa Terminal is the leading petroleum products facility in Puerto Rico. We currently have approximately 4.0 million barrels of storage capacity. We provide storage tanks for customers to store gasoline, jet fuel, diesel, fuel oil and crude oil. These products are being supplied to the growing local market, Caribbean and Central America regions. The Yabucoa Terminal is ideally suited for blending, transshipping and terminaling operations for Puerto Rico, regional and international markets.
Buckeye's international terminal facilities provide certain import and export advantages for our customers.
In Puerto Rico, our facilities are permitted to provide services as a Foreign Trade Zone (FTZ). An FTZ is an area that is physically located within the customs territory of the US, but is considered outside of the customs territory of the US for certain purposes such as duties and certain taxes.
The economic advantages of participating in an FTZ are:
- Increasing cash flow - Duties and certain taxes on arriving product to an FTZ are deferred until the product leaves the FTZ for US consumption
- Eliminating duty - Imported and nonduty paid products brought into the FTZ and subsequently exported never enter the US customs territoy, and are therefore exempt from duty and certain taxes.
- Reducing costs - Using weekly rather than daily entries of products to be consumed in the US may reduce the fees associated with these imports.
Buckeye Carribbean Terminals LLC (BCT), the owner of Yabucoa Terminal, operates as FTZ subzone #61I. As a result, customers operating under an agreement with BCT for FTZ storage can achieve a number of benefits.