Financing provider Maritime Partners has revealed that one of its “managed funds” has acquired US Marine Management (USMMI), a tanker and military support craft chartering corporation.
USMMI owns a portfolio of vessels and charters for a division of the US Navy called Military Sealift Command.
Go deeper with GlobalData
The Norfolk, VA-based company also engages in the operation and maintenance (O&M) of US government-owned vessels. It currently holds an O&M contract supporting US Army training crafts in Japan.
USMMI currently operates a fleet of five US-flagged vessels, including one owned maritime support vessel, three owned tankers and one bareboat chartered tanker.
The newly acquired company has recently won a contract with the US Maritime Administration and its Tanker Security Program. The agreement led to USMMI acquiring a fourth tanker, this one medium-range, to be delivered in Q4.
Bick Brooks, co-founder and CEO of Maritime Partners, said the company was “excited” to bring USMMI into its fold: “USMMI’s long-term contracts with a strong customer base will nicely complement our existing portfolio of assets by providing diversification across counterparties, assets and end markets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“We’re excited to partner with USMMI’s long-tenured and talented management team in the next phase of USMMI’s evolution.”
The acquisition will increase Maritime Partners’ portfolio of nearly 2,000 managed vessels leased from its New Orleans headquarters.
