- TransMontaigne Partners LLC has sold its Fisher Island terminal in Miami, a facility with 700,000 barrels of marine fuel storage capacity.
- Post-sale, the company will continue operations at the terminal under a lease agreement with the new owner.
TransMontaigne Partners LLC (“TransMontaigne”) announced the closing of the sale of its terminal facility located on Fisher Island, Miami, reports Business Wire.
The Fisher Island terminal has active capacity of approximately 700,000 barrels for the storage of marine fuels. The purchase price was $180 million. Effective as of the closing, TransMontaigne leased the terminal from the buyer to allow TransMontaigne to continue its existing operations servicing its current customer agreements.
Proceeds from the sale of the terminal were used for the repayment of certain term debt obligations.
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Source: Business Wire
