Kinder Morgan tapping private equity to come onboard product tanker venture

Kinder Morgan tapping private equity to come onboard product tanker venture

Investment bank Wells Fargo is reporting that New York-listed Kinder Morgan is in discussions with private equity companies to invest in its 16-strong fleet of Jones Act MR product tankers. Kinder Morgan has eight product tankers in the water and another eight set to deliver from US yards through to November next year.

“The sale [of the Kinder Morgan stake] could be the first major valuation data point for larger Jones Act coastal assets since the lifting of the US crude ban in December 2015,” Wells Fargo noted in a report yesterday.

A spokesperson for Kinder Morgan admitted the company had been looking for joint venture partners over the past few months.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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