Seattle’s Centerline Logistics is beefing up its Jones Act fleet with the takeover of domestic group JMB Shipping.
JMB owns “highly desirable” Jones Act maritime assets, including liquid tank barges and tugs, the company said.
No financial details were given, but Centerline 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 3m barrels of liquid tank barge capacity,” the buyer added.
Centerline has 123 vessels under its control.
Articulated tug barges are barges coupled to tugs via a secure pinning system that enables the combined unit to operate jointly to form a tanker-like vessel.
“JMB Shipping’s assets are among the most unique and desirable in the coastal Jones Act market,” Centerline Logistics chief executive Matt Godden said.
“Given the growing emphasis on domestic energy security, these assets have been, and will remain, crucial additions to Centerline’s fleet,” he added.
Prior to the acquisition, JMB Shipping was owned by JMB Capital Partners Lending, an investment firm focused on “special situations investments”.
‘Fantastic partner’
JMB Capital chief investment officer Vikas Tandon said: “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.”
Centerline operates along the US West Coast, including Alaska and Hawaii, the US East Coast including Puerto Rico, and the US Gulf Coast.
