Castle Commodities international MArks its foreign trade zone anniversary

CCI Braithwaite Storage partners with Port of South Louisiana to embrace foreign trade subzone.

 

In the summer of 2012, Castleton Commodities International purchased an idle parcel of property on the Mississippi River known as Port Nickel. The property was originally used to process nickel as part of the war effort during World War II.

Today, that property is a bustling import destination for industrial commodities known as CCI Braithwaite Storage enjoying Foreign Trade Zone status thanks in large part to the support of the Port of South Louisiana.

In order to be a more efficient storage facility for imported goods, in June 2016 CCI Braithwaite Storage applied for and received Foreign Trade Zone designation (FTZ) for the storage of industrial commodities. The storage facility, which has direct access for barges from the Mississippi River at mile marker 76, worked closely with the Port of South Louisiana on obtaining the FTZ designation and it has been an asset to both the company and its clients.

For importers of goods and commodities, an FTZ site is the same as any other import and storage facility that can hold and store commodities before introducing products into the stream of commerce. However, an FTZ can provide benefits that include deferrals and reductions on taxes and import duties until the goods are introduced into the stream of commerce. In some instances, raw materials can be processed into finished goods at an FTZ, allowing the importer to avoid taxes and duties on the improvements altogether.

CCI Braithwaite Storage believes in coming up with more efficient ways to conduct business for clients who are engaging in the import and storage of industrial commodities, and the Foreign Trade Zone provides additional efficiencies. Ms. Amanda England, Senior Vice President of Operations at CCI Braithwaite Storage, said the FTZ designation wouldn’t have been possible without the help and resources at the Port of South Louisiana.

“The Port of South Louisiana was tremendously helpful in establishing a foreign trade zone subzone,” England said. “We worked very closely with them and without their assistance it wouldn’t have happened.”

Other exciting things happening at CCI Braithwaite Storage include its deep water dock, with berthing LOA of 774-feet along the Mississippi River. “The facility’s biggest milestone upgrade is to the loading dock and pier,” England said. “It’s very capable of deep draft and deep water ships with a new mooring system, it’s a big accomplishment that we are very proud of.”

CCI Braithwaite Storage is also looking into accessing its direct rail to and from the facility. The storage facility can be a terminus of Norfolk Southern railroad.

“We are working on a project to establish the rail to go right into the plant — and then anywhere to the United States,” England said. “Our vision for the future is to have a dock that unloads and loads vessels with the railroad right there. Being located right on the Mississippi River is a wonderful location to have a rail installment that would let us transport to the rest of the United States and would be a tremendous benefit.”

The CCI Braithwaite Storage facility is a 67-acre dry bulk commodity storage facility located in Plaquemines Parish. “We work with local people who come in and handle the trucking aspect, loading and unloading and helping store the goods creating employment now and in the future,” England said. “I love working here, I love the environment and friendliness of people and the overall business climate,” she said. “I also want to highlight that we collaborate so well with the Port of South Louisiana — we can get a hold of them and ask questions anytime.”

Castleton Commodities International is an international commodity merchant headquartered in Stamford, Connecticut. Castleton Commodities International has offices in Houston, London, Singapore, Geneva, Shanghai and Montevideo.

 

By Jenny Peterson

 

 

Categories: Maritime