ILTA Changes its Name to Match its Broad Membership and Expanding International Focus

 

By David Doane, ILTA President

 

On June 1, 2008, ILTA changed its name to the International Liquid Terminals Association.  Our logo, which is now a registered trademark, remains the same.  By removing the word “Independent” and replacing it with “International,” we have a name that does a much better job of describing our terminal members.  The ambiguity created by the term “independent” is now gone, and our name conveys the global scope of our membership.  As a practical matter, ILTA has been an international association for many years.  As explained below, we are planning to expand our international operations and increase the number of our terminal members from other countries.

 

Our former name invited the question, “From whom are your members independent?”  In response, we explained that ILTA’s membership has evolved over the years, and the term “independent” is no longer an accurate description.  Today, we do not define our terminal members by a bright line of demarcation, such as the historic separation of “independent” oil and gas producers from the major oil companies.  In terms of size and ownership structure, our members cover the full gamut.  While many are relatively small, privately owned companies, many others are not.  ILTA members now include operating subsidiaries of large companies.  These subsidiaries operate as separate corporate entities, such as limited partnerships, but they are also part of the management structure of the parent company.  Another group of ILTA members consists of large, vertically integrated companies that operate terminals as part of their product distribution network.

 

ILTA is pleased to have a highly diversified membership.  In terms of size, our members range from one terminal with 2,065 barrels of storage to a company that operates dozens of terminals with over 59 million barrels of total capacity.  The owners of our terminal members include individuals, families, investor groups, private equity firms, partnerships, domestic corporations, and companies based in other countries.  Our terminal members also differ widely in terms of the products they handle and the nature of their operations.  In spite of these differences, our members have a great deal in common.  They operate the same basic type of facility, so they all face similar challenges and encounter similar problems.  All bulk liquid terminal operators need an ongoing stream of information to facilitate their regulatory compliance and improve their operations, safety and environmental performance.  Helping our members obtain this information is a key part of ILTA’s mission. 

 

Our new name accurately reflects the fact that we have welcomed international companies into our membership for the past 31 years.  Today, 19 of our terminal members are based in other countries.  Eleven operate exclusively in their home countries.  The remaining eight operate terminals here in the U.S. and are owned mostly by companies headquartered in the European Union.  We also have three additional terminal members that are based in the U.S. and operate facilities in both the U.S. and other countries.

 

Another international tradition is ILTA’s annual operating conference.  It has been an “international” event since 1992.  Each year, we attract attendees from all over the world.  At our 2007 conference, 152 attendees came from 31 other countries.  Also, many of ILTA’s supplier members are either U.S. companies with global operations or U.S. subsidiaries of companies based in other countries.  These companies add another important international component to our association.

 

The bulk liquid terminal industry operates in an international market, and global trends are creating fresh opportunities for ILTA and its members.  Worldwide shipments of crude oil and refined petroleum products are increasing in proportion to global economic growth.  Enormous amounts of capital are now flowing among countries, and global transfers of technological expertise are expanding.  One of ILTA’s goals is to develop knowledge-sharing partnerships with terminal industry groups in other countries.  A number of countries are now in the process of strengthening their safety and environmental rules.  Terminals in these countries have the opportunity to work with ILTA in acquiring new technologies and learning new procedures that can streamline the compliance process.  As we develop this potential new market for our informational services, we hope to add more international members.  We are looking forward to pursuing these opportunities as we expand our international activities and our member services in the months and years ahead.