Jones Act leasing business launched by Libra subsidiary

Seapath, part of Libra Group, has launched a Jones Act leasing business with $25m of initial transactions already concluded. 

Seapath’s leasing portfolio includes an order of six Jones Act-compliant barges, which are currently under construction. It also has a platform supply vessel (PSV) under bareboat charter to ThayerMahan. 

Joshua Lubarsky, president of Seapath, said the aim was to grow to a $100m portfolio over the coming months. 

Manos Kouligkas (pictured), CEO of Libra Group, said, “Seapath builds on Libra Group’s extensive leasing capabilities across maritime and aerospace.”

In September 2023, Seapath and Pilot LNG announced a joint venture to develop a new facility, the Galveston LNG Bunker Port, that will fuel LNG-powered vessels in the greater Houston/ Galveston area with an initial investment of approximately $200m. 

Seapath is one of three maritime subsidiaries of the US-based Libra Group.  Libra Group’s other maritime holdings include Lomar Shipping, and Americraft Marine, which owns and operates a Jones Act-compliant shipbuilding facility in Palatka, Florida.