be of XXth record the on pleased shareholder call, will Alan. our Thanks, start August To a the to dividend announce XX, XX. on date public consecutive since paid I'm $X.XX inception. share of per our dividend as based XXth and company August The dividend
QX $XX.X million $XX.X of was $XX.X $XX.X million FAD and FAD of million let's for XXXX Adjusted funds compared was distribution. metrics XXXX, QX versus of us million to available EBITDA QX first, for are adjusted So some of or XXXX of EBITDA and QX and numbers. in in discuss million. key XXXX. $XX.X in The QX $XX.X QX XXXX million for
$XX.X slightly quarter due expense, QX, was our to $XX.X million improved due million equipment from primarily results G&A resulting was infrastructure increase FAD higher $XX.X leasing bond the negative interest new issuance second and comprised million better at and million to Corporate overall number the expenses. this $XXX from The number the infrastructure higher During than negative portfolio, FAD in quarter, May, was of from $XX.X corporate corporate. Jefferson. million from in
Now, let to turn me Aviation.
we Our million. continues profitability. Aviation for Aviation exceed million for in to maintain million, our investments even LOIs new or call, last of year-to-date. expectations about was added versus We as exceed million EBITDA $XXX on $XX.X ever. this deals, QX, of business which new adjusted $XXX we highest is closed as million our expectations of our to have $XXX $XX.X brings which of $XXX million normalized And quarter and our outstanding total growth
which return Our make our rate investments, Aviation our and meet and standards new because up these on growth. quarter. will to most and growing closed balance on, this of $XXX be the last over lease. two XXXX, EBITDA equipment after source Aviation to pace or be already Aviation next is keeping expanding to have over exceed our quarters, of all on annum $XXX now the LOIs year, we closing million the with that from expect run close approximately per FAD that million is ability businesses We expect
are the and lease years some heavy and maintenance, the they now addition, lease this planes, on Xth in and plane, final expect went will which through of for cases China In quarter. off-lease were go X Air we X on over
to continue year. aviation market market the currently QX more create for strong likely next not do did three The in to and at of years. in to and and is we XXXX, tight engine EBITDA the balance growth for any if least this even this aviation should expect So from conditions you of deals continued are FAD the QX highly five extremely
on And focus own engines the we also which a design aircraft have XX currently engine XXX we As value of value. and fleet on because engines is over older of XX% aircraft, them. the reminder, aircraft by
tight extremely coming extension of XXX, up XXX of freighter visit; a this us, approximately market by directives growth an market the parts reliable asset labor, to for mandated shop second, there we’ve increase as been which to the in XXX, which there a our portfolio global parts in a due proven capacity value of and A-XXX major life the supply engines visits travel and XXX of fifth up in XXX engines the that third, e-commerce the being and the of go the the has which inspections result and for one, are of regulatory and overall maintenance; large chosen factors total The we of and best the is our on overall, on engines and comprised is agrees means their in is So first in aviation inflation growth XXX And passenger driving XXX, and XX% us. fourth, air maintenance which shop A-XXX convertible; power finally, engines on moneymakers good illustrates engines. number with air major specialize up. and are which for availability, cargo; cost and are focus are; result opinion, growth the independent aircraft value, engines higher aircraft, and in best driving
available about repair faster around in space, the through everything owners. own. and advanced of it's our grow fleet opportunity increasing stable feel Given easy products and airlines relevant larger and our good other to acquisitions from we market The engines prospects are to proprietary the the math the engine value returns the through even
XXXX, in we repairs of and supplied May discussed last process market. profitable maintenance. advanced undergoing on and into its the less Pride, about the in we currently call, and vessel repositioning offshore, it's completed intervention the shipyard project over talking as in vessel, construction Now, are quarter’s recent well our The of most in more Singapore
vessels well the for time to to and procuring vessel. the begun down for in the intervention undertake equipment these the of we’ve intervention yard process well We use expect modifications necessary
the we vessel to it work, the the our ready lower well XXXX. we will reflect utilization XXXX While results intervention on market interim for work Pride continue as for in
with the products Jefferson handled all Coast. secondly, products by Turning the on an and to excellent expansion to pipeline on time on levels. million fronts new energy connectivity, had a and It’s now terminal crude an storage plans strong barrels own we refined with strategically rail great infrastructure And around customers, a and X.X Jefferson, the advanced starting operationally U.S. Gulf through over QX Mexico. to in couple growth of of product One, crude. refined terminal
of Firstly a products, refined on approximately day which on QX, starting the per loading XX,XXX we soon. have with come will and tank, barrels been in addition
that We XX,XXX per increase will day. barrels to
to more excellent. We do take outlook We could customer will be offline investment our capacity of as August deliver. several every existing undertake CapEx barrel barrels day for to demand the capacity. we weeks could And per sell we XX,XXX in remains additional for
go a Belmont. per per that CN, committed during in we per ethanol, Canadian XX new due day If day first XX,XXX the onward. and point, decrease running and QX Western the been to that began commensurate directly crude, of running spreads to We delivering next five service and rail by will approximately new XX,XXX from and Regarding all is barrels On QX existing Demand transition we fluctuations a fully we’ll few On constraints from a respect of at unit economics. deal WCS, to the expect for to sign terminal with seasonal have with with the service major experienced barrels we expected operator barrels XXX,XXX equivalent and a day for new in one will in But with to out to in be is approximately QX our In customer. we refiners Canada expect to high. market. in third-party in on by customer, in to the equivalent arrange to terminal the QX, months. that XX volume wide sold infrastructure. commitments September, by crude ethanol select with weeks Canada Jefferson with internationally unit we trains very in XX,XXX producers in remains rail WTI we agreement capacity our executed, attractive this enhanced volume barrels the transportation To XXX,XXX near move barrels the very move. trains of be to provided by originate moved us rail QX where behalf move, capacity crude
barrels of in of the ship of expansion the write-away amount storage. significant million we bigger acquisition new $XXX the Zydeco of pipeline engineering, the permitting X.X the connections, crude a dock and TransCanada million and a have construction completed for Regarding and investment a new system,
very which barrels crude multiple demand the access we tenants are and the execute slightly having with we will give In commercial parties the delayed XXX,XXX be to capacity a newest very XXXX, and steel place which for three made timing strong for contract side, commitments has barrels. end of we've to due of strong months, by to of our would made by major have the the goal operational of been are construction the which of X,XXX on progress working interim, new storage, the - We've engineering a from XXXX. deliveries. shortly, couple of and timing potential On under demand expect that in expansion, customer great this with with a end with entire
to of on To expect operating storage the million the have Jefferson’s pieces today which executing these by and barrels capacity. we expect million we've to with locations result, storage in-service it executed a million date great our end the are proceeding barrels X.X are us agreement in we’re the end of With to develop of with made million and barrels on already we contracts additional the and of by the storage million last possible X.X of for to conversations as execute X.X near coming barrels and very XXXX. fourth nicely by new all, an of with will swing XXXX, that with together week, increase and full quite up, construction and million in XX those of we we QX an a XX Jefferson now. expanding customers. In will strong refinery quarter million All us XXXX XXXX by we end expected capabilities, start currently addition, in Port Belmont, the of and and barrels X.X expansion contracts, that that key new of relationships. X.X position make the property with Best total. give roll As between amended additional in ratified to strides
and revenue the has Let’s car all another a railroad quarter cleaning start. railroad. quarter. QX Central, versus The revenue, and load, to is EBITDA were The per XXXX Quebec QX off turn XXXX. this CMQR, Maine adjusted in to good started Total up car promising operation and
line We but submitted parties auction, bids. more look purchase opportunities railroads, intense. competition to for we over getting understand continue at is other that only to these XX short one recent assets In the
pursue this seeing are So we’ll space, continue like. to we value that opportunities this time, the we at not opportunities in but
to had Turning and Repauno. a We Repauno. now busy collective at quarter
construction both market sample will well. to liquids of time the million the or under multipurpose results are is the dock with The this cargo. that our initial study export handle will be The completed future. the stock easily the LPG by analysis cavern deepwater Our the storage complete, better granite formation budget. roll-on, on on site even of LPG give formation barrels our core December we under potential dock The geologists us would had roll-off new growing and our barrels granite and and going for The confirmed X hope an than accommodate million property the in X for. incremental ability is
estimates $XXX in for a - barrels second of one our per barrel first barrel the of of storage core program also for Our cost and and storage. $XX the initial million estimates barrels confirmed million cost third
the ground should approximately the infrastructure of is and a million for the total generate be first rail, in estimated handling barrels account, to and three and $XXX million infrastructure, million handle approximately cost $XXX storage above annual the EBITDA. into taking piping So
quarter were first We and We over level three now has the on become of also that cavern with we and barrel last engineering interest surprise XXXX. working permits and from last the by Europe early call for to by interest are expect stronger. on LPGs. million our mentioned pleased even somewhat that And be operational that
sooner. allow that rail us As such, get business us to transload transloading the and are developing process a into we in of unit-train LPGs will system ship allow to directly to from
this of with our willing and into long-term and forward project in buyers buy enter moving in caverns and able contracts buyers to Europe due LPGs, to sources We’re operational alternative to are the XXXX. desire immediate new are secure before
to at these expected worth We be $XX million in originate of our -- Ridge annual EBITDA, expect of in operational XXXX, system beginning expect cost that million to unit Long by total of LPGs be Also this rail a to $XX ship Terminal the million trains able at for to approximately end we Ohio. and in is noting to XXXX. $XX
we be to As of existing XXX,XXX than better to local are end for in of we that blenders, expect QX XXX% EBITDA year. are cavern and of happening going the a planned, to by and butane our and refiners is full gasoline $X going approximately sooner butane is and business now expected. generate barrel of we out million a this Repauno XX% August, bigger, turning storing number as to
Ridge, we Long coming Repauno, on than had Long faster Ridge much is expected. Now together like
on me our of XX,XXX for September X.X year. us rate now of exceeded which a Let year. million had expected handling to estimates, record by June initial in business. level of a October we this - reach the reached sand was this start which September expect We a or QX by be frac to volume that run year tons, tons
signing than new quality we XX% translating Importantly, up fees, forecast. higher we which now customers originally are at high are
XXXX. to receiving CapEx inbound reasons. On of daily One, truck increasing for two, dramatically we're million the is Utica as XXXX, and in that frac And sand for projecting sand million barge, have that capabilities. two million, $X $X to generate region in costs sand to $X Long almost the that We're $X requests capacity is million the and strategically frac shipping train as of only realized wells. demand equates unit market terminal drillers for positioned EBITDA offers more more Ridge Marcellus the productive and in now
we exactly last have As the X to location. sand, right asset added We've frac the days. in in the new customers perfect XX
unit loading that east load have And of Repauno. mentioned unit-train rail be unit our of will of infrastructure to capabilities, a acute advantage built we terminal nearby train and build and in frac LPG the in Ridge we operation, fractionation discussion, that facility a developing system, sand coast same facility process place. discussions already well also we're growing. the Now LPG, which with for including a which Long I for take And we're the Repauno the pipeline along which to the from trains in can to rail LPGs as to is the need in Europe in
these can of Given competitive is rail, access we Repauno, proximity offer Ridge's Long a And win sources LPG direct that twice. if and solution to we pipelines. land at with the we trains transportation
at let Now, to Long me the plant turn power Ridge.
Most of we securing expect those contracted would in Based in invested We the be Ridge by project of which negotiations, in build. all XX-year of QX began terms. take to we we by along the current plant XXXX, have capital that offer power to interest for to this Long fixed intention to planning page taker XX% place of in Once plus a with megawatt process some. non-recourse on long-term this of is negotiations current financing that to offtakers the price hope multiple is the whereby debt, are with well in And sell arranged, plant currently year. plan our out we new us have QX fully it by XXX were fall. from will that contracts
would we operations that commence a XXXX. own fully operations. late contracted still XX% So power own in the transaction, And terminal which a interest that in XXX% the after plant, of a at rest of we point, and
equity side, as So to the is higher of as Ridge, other be good all is on to very projected. looks than a some and of if conclude it it out, net we hopefully EBITDA And to going be faster the on able feels we we're our ramping to than like Long lower investment. needs stream going expected. capital which today, to soon, had expected, than fairly take that going be equity And are plus
the that narrow years our bodies stay with Five our Also, plans I focus that could mote the coming conclusion, exactly aircraft, from team execution. we and effectively ago. to are Aviation as team, our a good perfectly. to away the on continue together not our defend In business ago, benefits in pleased on to business body decision our today. we decision of And two as strategy, laid cost of widen So reap to be wide is we've and engines. short, made executing more midlife was that a means out the acquiring years choice and to
our days, execution plans at we all are customers of four. As in and to mode new a place of XX acquired now XX growing In firmly all we’ve infrastructure, the these strategies for and businesses. the in last total the assets are on
we like some deals can and long-term coming deals all Some at to Long quickly, where infrastructure those hindsight, happening products attributes acquire Jefferson, choices together. Using the are With to are of Ridge accelerating to and assets months bigger at at us often take sand geographically is meetings we’re perfect and needs ago we’ve operations for of the Long bring the execution now The sessions of location In the about years had happening much point importantly complex setting and respect frac together these are and meeting that these current meet is Jefferson, customers. pace. our customers engaging the and Ridge are yet industrial are come. to difficulty all with planning and they these weekly. have they with include three Repauno, capabilities assets. review more the multiple that two like in of made Division mode. in to cases, initiatives current an and complete And right
Our a signing that result current the the the growing. and future as are contracts size of new frequency customer and recognize customers of of involved
of set of taken are long-term hard now on leasing a who lot I are assets will that We our eye that dedicated our it provide we would set a build more be company proud dividend today. people work growth their long-term Finally could it's and to dividend. to FTAI. team talented very infrastructure from the collectively where have how goals we kept increase positioned and team out and And of for cover our
let that, me with So call turn to Alan. the back
