January 15 - Terminal operator ICS Logistics has acquired fellow terminal operator Coastal Maritime, a year after ICS Logistics was itself acquired by Babcock & Brown.
Coastal Maritime is a leading multi-user marine terminal operator and stevedore headquartered in Jacksonville, Florida. The company began operations in 1992 and today operates over 44.5 hectares of marine terminal property on the Port of Jacksonville's Blount Island marine terminal. In 2007, the Company handled 307 ship calls and over 1.1m tonnes of cargo, including container, heavy lift, project, roll-on/roll-off and military cargo. The company employs 236 full and part-time employees.
"Coastal Maritime is highly-regarded for its terminal operation and stevedoring services and we are excited about the opportunity to expand our presence in Jacksonville," said Terry Brown, ICS president.
The Coastal Maritime name will survive and founders Captain Magnus Lindeback and Kathy Wiley, will remain involved with the management of the business for a minimum of two years. The deal is expected to get regulatory approval in the first quarter, 2009.