Centerline Logistics Acquires JMB Shipping

Image: Centerline Logistics.

Seattle-based maritime transportation services provider Centerline Logistics has acquired maritime asset holding firm JMB Shipping from investment firm JMB Capital Partners Lending, giving Centerline ownership and control of sought-after Jones Act maritime assets such as liquid tank barges and tugs, Centerline Logistics announced Feb. 26.

“JMB Shipping’s assets are among the most unique and desirable in the coastal Jones Act market,” Centerline Logistics CEO Matt Godden said. “Given the growing emphasis on domestic energy security, these assets have been, and will remain, crucial additions to Centerline’s fleet.”

Before the acquisition, which closed Feb. 23, Centerline leased and managed the JMB Shipping fleet.

“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,” Vikas Tandon, the chief investment officer for Los Angeles-based JMB Capital Partners Lending, said.

The assets are expected to be incorporated into Centerline’s expanding fleet, which has more than three million barrels of liquid tank barge capacity.

Centerline Logistics operates throughout the country, including the U.S. West Coast, offering legacy petroleum products and modern alternative fuel transportation and storage.

By Karen Robes Meeks