The primary bunker fuel storage facility serving Miami’s marine industry has been sold for approximately $180 million. TransMontaigne Partners, Denver, Colo., disclosed in a recent SEC filing that it has reached an agreement to sell its Fisher Island fuel depot to an unnamed buyer. The deal is expected to close by mid-May 2025.
Following the sale, TransMontaigne will lease the terminal back from the buyer, ensuring continued operations at the site. The company initially put the 10-acre facility up for sale in May 2024 with a starting bid of $200 million.
The Fisher Island terminal is the largest bunker fuel storage facility in the Miami area, with a capacity of approximately 700,000 barrels. Under existing contracts, the site is expected to continue storing fossil fuels through 2027. The SEC filing did not indicate any future plans for the facility beyond that timeframe.
In the same SEC filing, the company announced the sale of its 500,000-barrel Fairfax refined products storage terminal for about $530.75 million. The Fairfax facility is used for gasoline, diesel, ethanol, and fuel additive storage.
While the Miami bunker fuel terminal’s long-term future remains unclear, the sale and leaseback arrangement suggest that TransMontaigne will maintain operations in the near term.
