Coastal Maritime sells its businesses

Coastal Maritime, a multi-user marine terminal operator and stevedore headquartered in Jacksonville, Florida began operations in 1992 and today operates over 110 acres of marine terminal property on the Port of Jacksonville’s Blount Island Marine Terminal and currently employs 236 full and part-time employees.

In 2007, the Company handled 307 vessel calls and over 1.1m tonnes of cargo, including containers, heavy lift, project, roll-on/roll-off and military cargoes and according to Captain Magnus Lindeback, Coastal Maritime’s president, the deal is s a tremendous opportunity for growth with the combined companies having the scale and depth of management to handle every type of cargo in the Port of Jacksonville.

The company will retain the Coastal Maritime name and the founders, Captain Lindeback and Kathy Wiley, will remain involved with the management of the business for a minimum of two years. The transaction is subject to customary closing conditions including the receipt of certain government approvals. The parties currently anticipate the transaction will close in the first quarter of 2009.