JP Morgan-controlled US-flag vessel operator Schuyler Line Navigation Co has expanded its fleet with the addition of a tanker linked to the New York-headquartered financial powerhouse
Equasis data shows 2017-built, 50,118-dwt MR tanker Largo Elegance has recently been renamed SL Hawaii and added to Schuyler Line’s fleet list. The vessel has also been
reflagged under the US registry.
According to multiple shipping data platforms, Largo Elegance was previously owned by Global Meridian Holdings, a Bermuda-based JP Morgan fund shipping-asset-owning company.
A post published last April on the American Maritime Officers website confirmed Schuyler Line’s acquisition of the tanker, noting it will join the Tanker Security Programme – a fleet of vessels available to the US government for transporting fuel and refuelling military assets worldwide.
Schuyler Line chief executive Dion Nicely stated the acquisition bolsters the US-flag fleet and supports former President Donald Trump’s initiative to “restore America’s maritime dominance.”
Background and fleet overview
Schuyler Line is part of the Bold Ocean group of companies, which JP Morgan Asset Management acquired last year. In 2018, a collection of US-flag shipping, technical management and crewing companies was consolidated under one parent entity. The Bold Ocean portfolio includes Schuyler Line, Schuyler Services, Schuyler Technical, Chesapeake Crewing, and Argent Marine Operations.
Bold Ocean is a Jones Act-compliant operator with vessels under long-term charter to the US government, delivering fuel, humanitarian food aid and other cargo.
Schuyler Line currently manages seven ships (excluding tugs), comprising a mix of product tankers, bulk carriers and general cargo ships. Prior to acquiring SL Hawaii, the company added 2018-built SL Midway – formerly BBC Louise, a tween-deck, heavy-lift vessel – to its fleet.
