February 06, 2025 [Mnifold Times]- Fisher Island terminal in Miami has an active capacity of 700,000 barrels for marine fuels storage and the purchase price is USD 180 million; firm also entered into an agreement for the sale of its Fairfax terminal.

TransMontaigne Partners (TransMontaigne) recently announced two of its wholly owned subsidiaries have entered into separate agreements for the sale of terminal facilities on Fisher Island, Miami and in Fairfax, Virginia.

The Fisher Island terminal has an active capacity of approximately 700,000 barrels for the storage of marine fuels. The purchase price is around USD 180 million.

The closing of the sale is expected to occur on or about 15 May subject to customary closing conditions. Following the closing, TransMontaigne will lease the terminal from the buyer to allow it to continue servicing its current customer agreements.

The Fairfax terminal has an active capacity of approximately 500,000 barrels for the storage of gasoline, diesel, ethanol, and fuel additives. The purchase price is approximately USD 30.75 million.

The closing of the sale is expected to occur on or about 30 June 2026, subject to certain rights for TransMontaigne to extend the closing date. The closing is subject to customary closing conditions.

Proceeds from the terminal sales will be used for repayment of certain term debt obligations.

“These terminal sales reflect the intrinsic value of TransMontaigne’s assets,” said Randy Maffett, Chief Executive Officer of TransMontaigne.

“The transactions will allow us to continue to focus on strategic growth to support our customer demand and facilitate energy transition related projects.”

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