Maritime Partners to acquire ATHC from AMSC for $747m.

Maritime Partners, a maritime financing solutions provider, agreed to acquire ATHC, a nine handysize products tankers and one handysize shuttle tanker owner, from AMSC, a Norwegian-American shipping and shipyard company, for $747m. "We are thrilled to acquire AMSC's Jones Act business which is a natural fit for our platform and consistent with our investment strategy. The acquired vessels are critical long-lived assets engaged in the transportation of non-discretionary cargo throughout the United States. The vessels are employed on long-term bareboat charters with two strong counterparties. This acquisition will nicely complement our existing lease portfolio by diversifying lessee exposure, asset exposure and end market exposure within the protected Jones Act markets," Bick Brooks, Maritime Partners Co-Founder and CEO.