Good day, everyone, and welcome to the PBF Logistics LP Fourth Quarter 2021 Earnings Conference Call and Webcast. At this time, all participants have been placed in a listen-only mode, and the floor will be open for your questions following management's prepared remarks. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note, this conference is being recorded. It is now my pleasure to turn the floor over to Colin Murray of Investor Relations. Sir, you may begin. Thank you, Chamali. Good morning, and welcome to today's call. With me today are Matt Lucey, Erik Young, and several other members of the partnership senior management team. If you'd like a copy of our earnings release, it is available on our website. Before we begin, I would like to direct your attention to the forward-looking statements disclaimer contained in today's press release. In summary, it outlines that statements in the press release and on this conference call that state the partnership's or management's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions under federal securities laws. There are many factors that could cause actual results to differ from our expectations, including those we've described in our filings with the SEC. As a reminder, PBF Logistics 10-K should be available in a week's time. As noted in today's press release, we'll be using certain non-GAAP measures while describing the partnership's operating performance and financial results. For reconciliations of non-GAAP measures to the appropriate GAAP figure, please refer to the supplemental tables provided in today's release. I'll now turn the call over to Matt Lucey. Thank you, Colin. Good morning, everyone, and thank you for joining us on today's call. PBF Logistics operated well in 2021. We finished the year with another strong operational quarter and continued to deliver consistent results. We expect that our strong relationship, supported by contractual revenues, will continue to deliver consistent results in 2022. We expect partnership full year 2022 revenue to be approximately $320 million-$340 million. Partnership revenues reflect lower minimum volume commitments for the East Coast rail facilities, which took effect as of January 1, 2022. The contract extension and adjusted minimum volume commitments were originally announced in February 2019. Revenues in this range are expected to generate EBITDA of approximately $200 million-$210 million. The partnership's consistent revenues and cash generations provide strong distribution coverage and the ability to continue reducing our net debt. We will remain focused on our balance sheet. In doing so, we maintain flexibility to increase our ability to potentially grow the partnership in the future. Today, we announced a distribution of $0.30 per unit. We will continue to review our distribution policy going forward with respect to company performance, market conditions, and alternate use of funds. With that, I'll turn it over to Erik. Thank you, Matt. We reported Q4 net income attributable to the limited partners of $42.3 million. Adjusted partnership EBITDA was $60.8 million, which includes approximately $1 million of non-cash unit-based compensation and environmental remediation costs associated with the East Coast terminals, as well as a $2.8 million dollar gain on the sale of assets. Partnership net income for the full year 2021 was $153.3 million, with adjusted EBITDA of $237.7 million. During the Q4, we spent roughly $1.7 million in total CapEx, including approximately $1.1 million for maintenance. In 2021, total capital expenditures were approximately $8.6 million. For 2022, we currently expect capital expenditures to be approximately $14 million, including $12 million for maintenance and $2 million of regulatory spend. We ended the quarter with approximately $430 million in liquidity after repaying an additional $25 million in debt during the Q4 for a total of $100 million in debt repayments in calendar 2021. Our liquidity consists of a cash balance of $34 million and just under $400 million of availability under our revolving credit facility. Net debt to annualized adjusted EBITDA was 2.4x. We expect to continue using excess cash to improve leverage ratios and strengthen the balance sheet. Consistent with our commentary on the PBF Energy earnings call this morning, our near-term finance efforts are focused on the successful refinancing and long-term credit extension of the revolver and unsecured notes due in 2023. Operator, we've concluded our opening remarks and now we'll open the call for questions. Thank you. In a moment, we will open the call to questions. If you'd like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you'd like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment please while we poll for questions. Our first question comes from the line of Spiro Dounis with Credit Suisse. Please proceed with your question. Hi, this is Chad on for Spiro. Just first question. With PBF sanctioning the renewable diesel projects and moving forward with it, just wanting to get your latest thoughts on if you plan to use the PBFX entity to help fund the renewable diesel project? Currently, required allowable income for the MLP does not include renewable diesel activities. That being said, PBFX has zero, you know, non-qualifying income. So there's some room for PBFX to participate in the project just using a non-qualifying income bucket. But there's also the prospect that legislation can change around what's defined as qualifying income. So we'll stay close to that. You know, that essentially summarizes where PBFX could play in it today. Okay, thanks. That's helpful. Then just on the second question, I'm just curious. I think the 2022 EBITDA guidance implies, you know, a little more than $30 million EBITDA decline from 2021 levels. Is that just the rail contract rolling off or are there any other factors that go into that guide? I think the easy math is just to assume it's roughly $20 million associated with the rail step down and the remainder is primarily gonna be driven by the reduction, right? We've got this Maersk contract historically over the past couple of years as that rolls off, there was a portion of that that hit 2021, and that is not in existence as we sit here today in 2022. Okay, that's helpful. Thanks for the time. We have reached the end of the question and answer session. I'll now turn the call over to Matt Lucey for closing remarks. I appreciate everyone's time today. Have a great day. This concludes today's conference, and you may disconnect your lines at this time. Thank you for your participation.
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