(SEATTLE) — Centerline Logistics, a leading maritime transportation provider and component of the United States’ energy and shipping supply chain, on Monday announced the acquisition of JMB Shipping.
JMB Shipping, a maritime asset holding company, owns a fleet of Jones Act assets, including liquid tank barges and tugboats. Previously, Centerline leased and managed the JMB Shipping fleet.
This acquisition grants Centerline long-term ownership and operational control, integrating the vessels into Centerline’s growing fleet, which now boasts over 3 million barrels of liquid tank barge capacity.
“JMB Shipping’s assets are among the most unique and desirable in the coastal Jones Act market,” said Matt Godden, CEO 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.
“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,” said Vikas Tandon, chief investment officer of JMB Capital Partners Lending LLC.
The transaction closed on Feb. 23 and was completed on undisclosed terms.
– Centerline Logistics
