SSA Marine and Waterson Terminal Services (WTS) are forming a joint venture that aims to support the latter’s growth as a provider of terminal management and stevedoring services for bulk, breakbulk, automobile and offshore wind customers in New England, USA.
WTS is the exclusive port operator and manager of ProvPort – the second largest deepwater port in New England, which operates the former municipal port of Providence. According to WTS, ProvPort has already been instrumental in helping to support offshore wind development along the Eastern Seaboard.
Marine terminal operator, meanwhile, SSA Marine has activities at more than 250 terminal facilities and rail operations throughout the USA, Canada, Mexico, Central America, South America, and Asia.
“We went through an extensive process to identify a strong partner that will help us achieve our strategic goals,” said Chris Waterson, who will be named president and ceo of WTS as part of the transaction. “SSA Marine quickly emerged as the ideal candidate and we are excited to enter into this next chapter as we work to expand our services regionally, with a focus on the emerging offshore wind industry.”
Lauren Offenbecher, president of SSA Marine’s conventional division, explained that the partnership will combine WTS’ regional terminal expertise with SSA Marine’s global experience in marine terminal operations. “We’re thrilled to invest in Waterson Terminal Services to help grow and enhance their current operations while also exploring expansion opportunities throughout the region,” she added.
The transaction is expected to close by the end of December 2023.
