UMG sells Louisiana terminal

TAMPA — United Maritime Group, a Tampa-based company that specializes in transporting coal and petroleum products, has entered an agreement to sell the largest dry bulk terminal on the Lower Mississippi River, the company says in a news release.

An affiliate of Oiltanking Holding Americas Inc., owned by a German petroleum company, is purchasing the U.S. United Bulk Terminal in Davant, La., for an undisclosed amount. The terminal has more than 11 million tons of annual throughput capacity, the release says.

“In the four years since acquiring [the terminal], we have developed the business into a leading independent provider of terminal and transfer services to the domestic and export markets for coal and petroleum coke,” UMG Chairman and CEO Steven Green says in a release.