Centerline Logistics acquires JMB Shipping

Seattle, Wash., headquartered Centerline Logistics has acquired JMB Shipping, a maritime asset holding company that owns a fleet of Jones Act vessels including liquid tank barges and tugboats.

Previously, Centerline leased and managed the JMB Shipping fleet. The acquisition gives Centerline long-term ownership and operational control, integrating the vessels into Centerline’s growing fleet, which now has a liquid tank barge capacity of over three million barrels

“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.”

“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 Shipping’s previous owner, JMB Capital Partners Lending, LLC, an investment firm focused on special situations investments

The transaction closed on February 23, 2024 and was completed on undisclosed terms.