Gulf Stream Marine, Inc. announced the strategic acquisition of the Alabo Street Terminal operations located in the eastern section of the Port of New Orleans. This is the second terminal, along with its Lake Charles terminal, that GSM is operating in Louisiana, and the first at the world-class Port of New Orleans.

"Expanding GSM's reach and bringing our specialized expertise to serve break-bulk and project cargo customers at the Port of New Orleans was the next step in our growth plan," explained Michel Miron, Executive Vice-President. "We worked very closely with the leadership team at the port to find the perfect fit for our service offering and we look forward to working together to grow this viable gateway."

The Port of New Orleans is a deepwater port located on the Mississippi river near the U.S. Gulf and offers customers seamless supply chain solutions from river to rail to truck. The Alabo Street Terminal is connected to Class 1 rail and highway systems and serves markets in the southern states and the U.S. Midwest, serving shippers from around the world. With GSM's growing network of nine terminals in ports in Texas, Louisiana and Mississippi, the addition of the Alabo Street Terminal offers further options for customers looking to access new markets.

"Gulf Stream Marine is highly respected for their operational expertise with breakbulk, bulk and heavy-lift cargo, and they are a welcome addition to our tenant portfolio," said Brandy D. Christian, President and CEO of Port NOLA and CEO of the New Orleans Public Belt Railroad. "Our partnership with GSM reinforces and strengthens Port NOLA and the region's position in the global supply chain."

About GSM

GSM is a leading U.S. Gulf cargo handling, stevedoring and terminal operator specializing in handling wind energy components, general, bulk and break-bulk cargoes and is headquartered in Houston, Texas, operating in 13 terminals at 7 ports.