Seattle’s Centerline Logistics will integrate JMB’s vessels into its fleet portfolio. Centerline Logistics announced the acquisition of JMB Shipping, a maritime asset holding company, which owns a fleet of ‘highly desirable’ Jones Act maritime assets, including liquid tank barges and tugboats, as the company said.
The maritime transportation provider Centerline didn’t disclose any financial details, but said it previously leased and managed the JMB Shipping fleet.
This acquisition grants Centerline long-term ownership and operational control, integrating the vessels seamlessly into Centerline’s growing fleet, which now boasts over three million barrels of liquid tank barge capacity.
The deal was sealed on February 23, and it was completed on undisclosed terms.
“JMB Shipping’s assets are among the most unique and desirable in the coastal Jones Act market,” said Matt Godden, chief executive of Centerline Logistics. “Given the growing emphasis on domestic energy security, these assets have been, and will remain, crucial additions to Centerline’s fleet.”
Prior to the acquisition, JMB Shipping was owned by JMB Capital Partners Lending, LLC, an investment firm focused on special situations investments.
Vikas Tandon, chief investment officer of JMB Capital Partners Lending, LLC, highlighted the fact that “Centerline has been a fantastic partner during our ownership of the assets, and we are pleased that the vessels will now be under Centerline’s full ownership and control.”
