The acquisition will grow the Caribbean business of King Ocean provides marine transportation and logistics solutions to close to 50 destinations across the Caribbean and South and Central America.
“Seacor Island Lines not only vastly enhances our existing platform adding new end-markets and marine and shoreside infrastructure, but also augments our team with highly qualified transportation and logistics professionals,” said Jose Da Costa Gomez, President, and Chief Executive Officer of King Ocean.
Seacor Island Lines serves as a marine gateway to nearly 30 destinations across the Bahamas and Turks & Caicos transporting a range of containerised and refrigerated cargoes, break bulk, and heavy equipment via weekly liner and charter service. Seacor acquired the liner company, formerly G&G Shipping, in 2011.
Seacor Island Line has a fleet of specialised, shallow draught vessels allowing its vessels to serve ports with limited draught and sites without infrastructure.
“As the next stewards of Seacor Island Lines, King Ocean has the values, vision, and resources to meaningfully invest in the Company’s future and create lasting opportunities for development and growth,” said Eric Fabrikant, Chief Executive Officer of Seacor Holdings.
The sale is one of several made in recent months by Seacor, a portfolio company of American Industrial Partners. In September the company sold its US harbour towage operations and assets from its Seabulk subsidiary to two parties, E.N. Bisso & Son, and Bay-Houston Towing Co., and in October it sold its inland river transportation and logistics business to Ingram Barge Company.
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