Ethanol trader sells Albany terminal for 300 percent return after 18 months; new owners say ethanol focus was key to their decision to buy

In New York, ethanol trader BioUrja Trading sold the LogiBio Albany Terminal for $46.5 million to Buckeye Partners, realizing a 300 percent profit million profit after buying the terminal out of bankruptcy in March 2007. BioUrja had converted 25 percent of the bankrupt terminal’s 1.8 million barrel capacity to ethanol and made it the dominant terminal for blending operations in the region.  Buckeye Partners CEO Forrest Wylie told the Daily Gazette that ethanol was the key factor in the purchase decision.

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