US owner Seacor Holdings, a portfolio company of American Industrial Partners, has sold its Caribbean liner and logistics business, Seacor Island Lines, to Florida-based shipping player King Ocean Services.
The deal will see the Da Costa Gomez family-owned King Ocean, which delivers to close to 50 destinations across the Caribbean and South and Central America out of their base in Port Everglades, take over Seacor Island Lines’ operations and assets, including a fleet of nearly 10 ships, for an undisclosed sum.
“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 of King Ocean.
The Fort Lauderdale-based Seacor Island Lines ships a range of containerised and refrigerated cargoes, breakbulk, and heavy equipment with about 30 stops across the Bahamas and Turks and Caicos Islands. The company, formerly known as G&G Shipping, was acquired by Seacor in 2011.
In September last year, Seacor offloaded its US towage business from subsidiary Seabulk Towing, followed by selling inland shipping unit SCF in October.
