Jankovich Company Sold to Firm in Seattle

The sale of the Jankovich Co., a longtime San Pedro harbor business, was recently completed. The family-owned and operated company was established in 1933 as a full-service, land and marine lubricants, fuels and specialty products distributor.

According to a few relatives of the employees, the workers were given $10,000 as a thank you for their service. The company was sold to TJC LLC, a Washington Limited Liability Company owned by North Star, which is 100% owned by Saltchuk, a privately-owned family of diversified transportation and distribution companies headquartered in Seattle. Sources close to the sale said the Jankovich Company was acquired for $200 million. The company’s operations extended as far north as the San Francisco Bay Area and as far south as San Diego.

Jankovich’s 20-year permit to operate at the Port of Los Angeles, which became effective in 2017, was transferred to TJC LLC. The permits entitled Jankovich the right to use City of Los Angeles Harbor Department land, subsurface, and water areas at Berths 73A and B and Berth 74 in San Pedro for operating and maintaining a retail marine fueling service station that sells fuel and lubricants. This permit also included the operation of a small commercial watercraft mooring facility; the use of an office building and storage; truck access and storage; and docking of barges. Jankovich made the move upon the Harbor Department’s request to accommodate the redevelopment of Ports O’ Call. 

The port reported the remediation of Berth 74 as being substantially completed. The premises will require continued ground water monitoring and potential further toxic soil remediation depending on the results of monitoring. Through the termination agreement Jankovich has agreed to perform ground water monitoring and provide the Harbor Department a $350,000 security deposit to secure future monitoring and remediation. 

Upon completion of the remediation at Berth 74, there will remain small amounts of soil contamination along the seawall, which cannot be removed without compromising the integrity of the seawall. There is also residual soil contamination along the roadway that could not be accessed. 

Jankovich has been working on a remediation plan to address the limited amounts of remaining contamination. Some groundwater contamination will also remain, but is expected to attenuate in time since the source soil contamination has been removed.  

Jankovich will initially be required to monitor groundwater for two years and if after the first year groundwater contamination levels have not been substantially reduced, Jankovich will be required to take additional action to expedite remediation of the groundwater. Until such time as groundwater contamination has been reduced to acceptable levels for future unrestricted use, Jankovich will assume responsibility for the remaining contamination through the termination agreement. This will require a $350,000 security deposit that will not be refunded until the Berth 74 is returned to the Harbor Department in a condition that will allow for unrestricted use. 

Started by Thomas Jankovich as a San Pedro marine fuel business in 1933, the company grew from a one-man operation to an internationally recognized company. Jankovich’s son, Tom Jr., joined the firm in 1960 and was instrumental in the company’s continued growth.

Until 1970, the company was selling fuel and lubricating oil mainly to the fishing fleet in San Pedro. Then Jankovich and his son formed San Pedro Marine Inc. and started their own trucking business.

In 1982, Jankovich and his son formed a water taxi service, J & S Water Taxi Service. In 1983, Jankovich and Hal Noring formed Petro America Inc., a marketer and transporter of petroleum products to inland and international marine companies not serviced by San Pedro Marine Inc., as well as serving truck lines, railroads, airlines and petroleum exploration/production groups.

The firm also served as a fuel broker for the Jankovich companies, maintaining a working relationship with all major independent refineries and wholesale markets.