Maritime Partners acquires J. Russell Flowers portfolio

Louisiana-based Maritime Partners has acquired a diversified portfolio of over 1,000 marine vessels operating on bareboat charter from J. Russell Flowers and its affiliates (JRF).

JRF’s fleet includes a variety of towboats, tank barges, hopper barges and deck barges. With this acquisition, Maritime Partners’ portfolio has grown to approximately 1,600 vessels with an estimated fair market value of $1.2bn, making the firm the largest lessor of marine equipment in the US.

Austin Sperry, co-founder and COO of privately held Maritime Partners, founded in 2015, noted: “Six years ago, we established a vision to become the leading equipment provider to the domestic marine industry. This acquisition represents the culmination of our vision. We are excited to continue to partner with the Jones Act operator community to serve as a provider of flexible vessel financing solutions.”

Kim Biggar

Kim Biggar started writing in the supply chain sector in 2000, when she joined the Canadian Association of Supply Chain & Logistics Management. In 2004/2005, she was project manager for the Government of Canada-funded Canadian Logistics Skills Committee, which led to her 13-year role as communications manager of the Canadian Supply Chain Sector Council. A longtime freelance writer, Kim has contributed to publications including The Forwarder, 3PL Americas, The Shipper Advocate and Supply Chain Canada.
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