Kinder Morgan Energy Partners LP (NYSE: KMP) agreed to acquire two private equity-backed shipping companies for $962 million in cash, underscoring the continuous consolidation taking place among tankers.

The targets, American Petroleum Tankers (APT) and State Class Tankers (SCT), were founded and expanded by the Blackstone Group (NYSE: BX) and Cerberus Capital Management. Both operate as marine transporters of crude oil.

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