Westshore Terminals Income Fund - Q4 DISTRIBUTION AND FUND RESTRUCTURING UPDATE

About this update from Westshore Terminals Investment Corporation

[{"type":"text","content":"\n\n\n\n Dec. 14, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Dec. 14 /CNW/ - Westshore Terminals Income Fund (TSX: WTE.UN)\n (the "Fund") announced today that a cash distribution of $36,011,258\n (representing $0.485 per trust unit) will be paid on or before\n January 15, 2011 to unitholders of record at December 31, 2010 as\n compared to $29,700,006 (representing $0.40 per trust unit) for the\n same period in 2009.  $0.405 per unit of the Q4 distribution is derived\n from the results from operations of Westshore Terminals Limited\n Partnership ("Westshore") in the current period, and $0.08 per unit\n comes from Westshore's cash reserves. For 2010, total distributions of\n $1.40 per unit were derived from the results from operations and $0.375\n per unit from Westshore's cash reserves. For 2011, it is anticipated\n that distributions will be solely based on after-tax operating results\n and no additional amounts will be paid from any remaining cash\n reserves.\n\n\nFor the fourth quarter of 2010, Westshore anticipates that its tonnage\n throughput will be approximately 6.3 million tonnes as compared to\n 5.2 million tonnes for the same period in 2009.  Tonnage throughput for\n 2010 as a whole is anticipated to be approximately 24.6 million tonnes\n compared to 20.1 million tonnes for 2009. \n\n\nBased on estimates provided periodically to Westshore by its customers,\n Westshore anticipates that tot...

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