TransMontaigne operates one of the largest independent terminaling networks in the United States — 54 terminal facilities, 850 storage tanks, and 42 million barrels of active storage capacity across six regional corridors, from the Florida Gulf Coast to Washington State’s Puget Sound. The Denver-headquartered company handled 225 million barrels of throughput in 2025 and reported total revenue of $645.9 million for the fiscal year ended December 31, 2025, according to its Form 10-K filed with the SEC on March 20, 2026.
Company Overview
TransMontaigne Partners LLC is a terminaling and transportation company providing storage, terminaling, and transportation services for refined petroleum products, renewable fuels, crude oil, chemicals, and fertilizers. The company is 100% owned by TLP Finance Holdings LLC, an indirect subsidiary of ArcLight Capital Partners through its ArcLight Energy Partners Fund VI vehicle.
Jesse Arenivas took over as CEO in September 2025, succeeding retiring Randal T. Maffett. Arenivas previously served as CEO of EnLink Midstream from 2022 to 2025 and held senior executive roles at Kinder Morgan, including President of Energy Transition Ventures. As of February 2026, TransMontaigne employs 537 people. The company is a voluntary SEC filer under the covenants of its $500 million 8.500% senior unsecured notes due 2030.
Terminal revenue for FY2025 reached $319.9 million, a marginal decline from $323.6 million in FY2024. Net earnings of $128.1 million were substantially inflated by a $169.6 million gain on the Fisher Island sale-leaseback transaction completed in October 2025. Consolidated EBITDA for the year came in at $204.9 million against long-term debt of $1.421 billion.
TransMontaigne Terminal Network
TransMontaigne’s six operating regions span the full breadth of US petroleum logistics infrastructure. The Southeast division is the largest by owned capacity, with 20 terminals totalling 12,478,000 barrels across Alabama, Georgia, Mississippi, North Carolina, South Carolina, and Virginia. Most are fed by the Colonial and Plantation pipeline systems. The standout asset is the Collins/Purvis, Mississippi complex — 6,280,000 barrels of capacity, making it among the largest single terminal sites in the independent storage sector.
The West Coast division contributes 7,208,000 barrels across three terminals: Martinez, California (5,034,000 barrels), Richmond, California (688,000 barrels), and Tacoma, Washington (1,486,000 barrels). The Tacoma facility holds a distinctive market position as the only independent terminal in the Puget Sound with a unit train facility and also sells refined and renewable products directly into the local market.
The Gulf Coast division operates eight terminals in Florida — Port Everglades North and South, Jacksonville, Cape Canaveral, Port Manatee, Pensacola, Tampa, and Fisher Island in Miami — contributing 6,865,000 barrels. The Brownsville, Texas division adds 1,632,000 barrels, including the Diamondback pipeline crossing into Mexico, currently idle and earmarked for recommissioning. The River division (nine terminals on the Mississippi and Ohio Rivers) and Midwest division (Cushing, Oklahoma City, and two Razorback pipeline terminals in Arkansas and Missouri) contribute a combined 3,592,000 barrels. For further context on the competitive landscape, see our analysis of the largest oil storage terminal operators in the US.
Joint Ventures and Pipeline Assets
TransMontaigne holds equity positions in four joint ventures that contribute materially to its total network. BOSTCO (Battleground Oil Specialty Terminal Company) is the most significant — a 42.5% Class A interest in a 7.1 million barrel distillate, residual, and black oil terminal on the Houston Ship Channel, day-to-day operations managed by Kinder Morgan. BOSTCO’s heavy product capability makes it a strategic complement to TransMontaigne’s primarily light products portfolio.
SeaPort Midstream (51% interest, TransMontaigne operates) covers Seattle and Portland with 1.3 million barrels of refined and renewable product storage. Frontera Brownsville (50% interest, TransMontaigne operates) holds 1.7 million barrels in Brownsville, Texas, with a PEMEX affiliate as co-owner — a structurally important position for US-Mexico fuel trade. Olympic Pipeline Company (30% interest) is a 400-mile FERC-regulated pipeline running from Blaine, Washington to Portland, Oregon, operated by BP. Including all joint venture interests, TransMontaigne’s total network reaches 42,271,000 barrels. Among independent tank terminal operators globally, that scale places it firmly in the top tier of US-focused operators.
2026 Strategy: Asset Disposals and Debt Reduction
TransMontaigne’s near-term financial strategy is structured around selective asset disposals to reduce its $1.421 billion debt load. The Fisher Island, Miami transaction — completed October 8, 2025 — saw the company sell the terminal land to HRP Fisher Island LLC for $180 million, using $175 million to prepay senior secured term loans while retaining operations under a lease through August 2027. The transaction generated a $169.6 million accounting gain.
Two further disposals are in process. The Charlotte, North Carolina terminal (approximately 120,000 barrels, light refined products) was agreed March 18, 2026 for approximately $3.4 million, with closing expected around April 17, 2026. The Fairfax, Virginia terminal (approximately 500,000 barrels) was agreed January 22, 2025 for approximately $30.8 million, with closing expected around June 30, 2026. Both proceeds are directed to term debt repayment.
On the debt structure itself, TransMontaigne completed Amendment No. 6 to its credit agreement on February 6, 2026 — repricing and extending senior secured term loans to March 16, 2030 at Term SOFR plus 2.25%. Combined with the February 2025 refinancing of its $300 million 6.125% notes (replaced by $500 million at 8.500% due 2030), the company has substantially extended its maturity runway. New CEO Jesse Arenivas inherits a network rationalisation programme already underway, with the non-core Southeast and Mid-Atlantic disposals freeing capital while the high-capacity Southeast core and West Coast assets remain intact.
TransMontaigne Company Snapshot
| Headquarters | Denver, Colorado, USA |
|---|---|
| Ownership | ArcLight Capital Partners (via TLP Finance Holdings LLC) |
| CEO | Jesse Arenivas (appointed September 2025) |
| Employees | 537 (as of February 2026) |
| Total storage capacity | 42 million barrels (54 terminals, 850 tanks) |
| Annual throughput | 225 million barrels |
| Total revenue FY2025 | $645.9 million |
| Terminal revenue FY2025 | $319.9 million |
| Consolidated EBITDA FY2025 | $204.9 million |
| Long-term debt | $1.421 billion |
| Pipeline systems | 3 (including 30% interest in Olympic Pipeline) |
| SEC filing status | Voluntary filer — 8.500% senior notes due 2030 |
Financial data sourced from the TransMontaigne Partners LLC Form 10-K, fiscal year ended December 31, 2025, filed with the SEC March 20, 2026.
TransMontaigne enters 2026 as a leaner operator than it was twelve months ago — the Fisher Island monetisation and pending Southeast disposals reduce non-core exposure while the balance sheet extension removes near-term refinancing risk. With the Collins/Purvis complex anchoring the Southeast, Martinez anchoring the West Coast, and BOSTCO providing Houston Ship Channel exposure, the core network remains strategically well-positioned across the primary US refined product corridors.
What does TransMontaigne specialise in?
TransMontaigne Partners specialises in terminaling and transportation services for refined petroleum products, renewable fuels, crude oil, chemicals, and fertilizers. The company provides integrated storage and throughput services at 54 terminal facilities across six US regions.
Where are TransMontaigne’s terminals located?
TransMontaigne operates terminals across six US regions: the Southeast (20 terminals in Alabama, Georgia, Mississippi, North Carolina, South Carolina, and Virginia), the Gulf Coast (eight terminals in Florida), the West Coast (Martinez CA, Richmond CA, and Tacoma WA), the River corridor (Mississippi and Ohio Rivers), the Midwest (Cushing OK, Oklahoma City OK, and two Arkansas/Missouri locations), and Brownsville, Texas.
What is TransMontaigne’s total storage capacity?
TransMontaigne’s total storage capacity is 42 million barrels across 54 terminal facilities and 850 storage tanks. This figure includes the company’s proportional interests in four joint ventures: BOSTCO on the Houston Ship Channel, SeaPort Midstream in Seattle and Portland, Frontera Brownsville in Texas, and Olympic Pipeline in the Pacific Northwest.
Who owns TransMontaigne Partners?
TransMontaigne Partners LLC is 100% owned by TLP Finance Holdings LLC, an indirect subsidiary of ArcLight Capital Partners through its ArcLight Energy Partners Fund VI fund. The company is not publicly traded but is a voluntary SEC filer under covenants on its $500 million 8.500% senior unsecured notes due 2030.
What is TransMontaigne’s 2026 strategy?
TransMontaigne’s 2026 strategy centres on debt reduction through selective asset disposals. The company completed the $180 million Fisher Island land sale-leaseback in October 2025 and has agreed sales of its Charlotte, NC terminal (closing ~April 2026) and Fairfax, VA terminal (closing ~June 2026). Proceeds are directed to term debt repayment. The company also extended its senior secured credit facilities to March 2030 under Amendment No. 6 agreed in February 2026.