Early in 2023, A.P. Moller-Maersk decided to divest itself of U.S. Marine Management, Inc. (USMMI). USMMI, the U.S. government contractor and tanker owner/operator no longer “fit” with the new APMM/Maersk Group portfolio of business as the Group becomes the “Global Integrator of Container Logistics.” The Maersk Group hired an investment banking firm to solicit bids from potential buyers and Maritime Partners, LLC emerged as the successful bidder.
On September 20th, 2023, U.S. Marine Management, Inc. (USMMI) was acquired by Maritime Partners, LLC of Metairie, Louisiana. USMMI, a Limited Liability Company (LLC), is now a U.S. owned, Jones Act qualified ship operating company based in Norfolk, Virginia with a fleet consisting of five oil/product tankers on charter to Military Sealift Command (MSC). Maritime Partners, LLC is a U.S. company specializing in maritime financing solutions with a fleet of over 1,900 vessels.
“We are excited to add USMMI to our portfolio,” said Bick Brooks, co-founder and CEO of Maritime Partners. “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.” Maritime Partners said the deal is a “significant opportunity for portfolio diversification through the addition of a new vessel class with new capabilities, a new maritime market to serve and a new counterparty to its portfolio.”
USMMI’s management team remained fully intact throughout the recent ownership transition. As a result, there is valued continuity of existing personnel with the same standards of excellence and commitment in place that have served USMMI’s primary customers, MSC and the U.S. Army with distinction for more than 40 years, while operating a broad range of vessels efficiently and cost-effectively. U.S. Marine Management now qualifies as a Small Business concern.
USMMI will continue to grow existing business lines and create additional business lines that fit within the scope of USMMI’s ship ownership and management operations. USMMI will also seek growth in new markets that will result in growth in U.S. Flag shipping fleet and create more employment positions for U.S. Mariners.
“We are excited to add USMMI to our portfolio,” said Bick Brooks, co-founder and CEO of Maritime Partners. “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.”
—CEO of Maritime Partners