The chassis pool manager Consolidated Chassis Management LLC (CCM), which earlier this year opened a fleet of nearly 50,000 chassis to motor carriers visiting ports throughout the South Atlantic region, has been acquired by the private equity firm Oaktree Capital Management L.P.
CCM has been owned since its inception by the Ocean Carrier Equipment Management Association Inc. (OCEMA), an association of 10 international container shipping companies. Under its new ownership, CCM said it will have a significantly expanded capital base providing the financial support it needs for the launch of the new South Atlantic Consolidated Chassis Pool (SACP 3.0), which began operations on October 1. CCM will serve as the exclusive manager and sole chassis provider for SACP 3.0 under a long-term management and supply agreement with South Atlantic Consolidated Chassis Pool LLC (SACP), an OCEMA affiliate.
SACP 3.0 is being established cooperatively by OCEMA, Georgia Ports Authority, Jacksonville Port Authority, North Carolina State Ports Authority, SACP, and CCM. The newly reconstituted pool will offer more than 45,000 new and refurbished chassis to truckers, beneficial cargo owners, ocean carriers and other users. SACP 3.0 will be one of the largest fully interoperable chassis pools in the U.S., with more than 75 locations in Alabama, Florida, Georgia, North Carolina, and South Carolina.
According to CCM, the pool’s interoperability and on-dock location provides meaningful ESG benefits to its users including fewer chassis moves, better terminal fluidity, shorter motor carrier wait times, and as a result, reduced truck GHG emissions.
“We are thrilled to be working with the port authorities, our ocean carrier customers and the CCM management team in forging this one-of-a-kind partnership to improve supply chain efficiency and provide a more robust and sustainable chassis pool in the U.S. South Atlantic region,” Emmett McCann, managing director and co-portfolio manager of Oaktree’s Transportation Infrastructure strategy, said in a release. “This investment is firmly aligned with our conviction in the long-term growth of the U.S. intermodal sector, and we welcome the vision of CCM, the Ports of Savannah, Jacksonville, and Wilmington, and OCEMA in creating SACP 3.0.”