Cook Inlet Tug & Barge Acquiring Assets on Alaska’s North Slope
Cook Inlet Tug & Barge (CITB), an independently managed subsidiary of Foss Maritime Company, entered into an Asset Purchase Agreement with Crowley Vessel Sales Group and completed the purchase of all of Crowley’s Prudhoe Bay, Alaska assets – including tugs, barges, heavy machinery and other vehicles and equipment.“These assets are already positioned on the North Slope,” said John Parrott, President and CEO of Foss. “They are operationally ready to perform shallow draft tug and…
Samskip’s UK Investments Transcend Brexit Disruption
Two years of pre-Brexit investment in North Sea container shipping services is proving decisive in winning shippers away from cross-Channel ferry routes at a critical time for UK-EU relations, according to leading multimodal operator Samskip.With many questions remaining over the exact nature of the future EU-UK trading relationship, Samskip says that regular, reliable and cost competitive container services are a key element in planning for the future.“The months ahead will see…
Samskip Introduces New Shortsea Route to Antwerp,UK.
Samskip is launching a new shortsea service connecting Antwerp and Hull, in an expansion of its continent-UK multimodal network that also sees it debut at Belgium’s largest port.The intermodal logistics company said in a press release that the initial schedule offers a twice weekly short sea container service, with its first departure from Antwerp on the 12th October.The service will be operated by a 508TEU capacity vessel, sailing from ATO's multimodal terminal on Tuesday and…
MarAd Awards $2.5 Mln Grant to Port of New Orleans
The Port of New Orleans (Port NOLA) has been awarded a $2.5 million U.S. Maritime Administration (MARAD) grant to support the current container-on-barge shuttle service operated by SEACOR AMH between New Orleans, Baton Rouge and Memphis, and to launch a new container-on-barge shuttle service on the Inner Harbor Navigation Canal (IHNC) in New Orleans.The grant will be used to purchase marine terminal handling equipment for efficient loading and unloading of container-on-barge operations in New Orleans.
New Orleans' Big Plans Showing Dividends
A Container-on-Barge service intended to be an integral part of the regional intermodal equation is gathering momentum – and customers. Quietly, the Port of New Orleans (NOLA) has marked some important accomplishments in the past two years, across multiple business sectors. For example, in April 2016, NOLA’s Board dedicated a $25 million Mississippi River intermodal terminal, capable of handling 160,000 twenty-foot-equivalent (TEU) units per year by rail. CN Railroad signed a memorandum of understanding (MOU) a year earlier (2015)…
New Intermodel from Antwerp Port to Rhine-Ruhr-Main
The rail operator H&S Container Line is introducing an additional round trip between Andernach in Germany and the two container terminals in the Deurganck dock in the port of Antwerp. H&S already operates on this route, but is raising the frequency to twice per week thanks to financial support from Antwerp Port Authority. The support offered to H&S Container Line is the result of a Call for Proposals (CfP) launched in October last year by the Port Authority to attract projects…
Samskip, Pro-Log Double Barge Services
Multimodal network operator Samskip and inland waterway transport provider Pro-Log are celebrating the 10th anniversary of barge operations connecting Rotterdam and Duisburg by adding a second vessel, increasing service frequency to six times weekly. May 1, 2016 completes the first decade in the cooperation between the two unitised transport specialists, one a pan-European operator of ships, trains, trucks and multimodal equipment, and the other a dedicated river barge operator.
Biden Champions Maritime at Port of Virginia
Carrying 95 percent of U.S. foreign trade, our maritime transportation system, which includes America’s ports, is a crucial component of our nation’s economy. And with our growing population—and the associated need to increase the amount of freight our transportation network carries—maritime’s value will only grow in the future. This point is not lost on the Obama Administration, and it’s the reason why Vice President Joe Biden joined U.S. Senator Mark Warner (D-Va.), U.S. Rep.
Maritime & Offshore M&A
Workboat and offshore marine markets have been gaining strength over the past three years. A resurgence of oil production in the Gulf of Mexico has brought orders for new vessels, major oil companies are ramping up their presence in the region, and Gulf-oriented state governments are aligning to encourage offshore growth. Merger and Acquisition volumes have generally expanded in the US along with this growth as strategic companies seek to strengthen their positions in niche competencies (Figure 1).
Kirby Complete Penn Maritime Takeover
Kirby Corporation completes the acquisition of Penn Maritime Inc. & Maritime Investments LLC, US operators of tank barges and tugboats. Penn's fleet, comprised of 18 double-hulled tank barges with a capacity of 1.9 million barrels and 16 tugboats, operates along the East Coast and Gulf Coast of the United States. Penn's tank barge fleet has an average age of approximately 13 years with a product mix that consists primarily of refinery feedstocks, asphalt and crude oil. Penn's customers include major oil companies and refiners…
Kirby to Acquire Barge & Tankship Operator Penn Maritime
Kirby Corporation (Kirby) has signed an agreement to acquire Penn Maritime Inc. (Penn) and Maritime Investments LLC. Penn Maritime is an operator of tank barges and tugboats participating in the coastal transportation of primarily black oil products in the United States. The total value of the transaction is approximately $295 million (before post-closing adjustments and transaction fees) and will consist of cash, Kirby common stock and the retirement of Penn's debt. Penn operates a fleet of 18 heated…
Kirby Corp. to Acquire Allied Transportation
Kirby Corporation agrees to purchase assets of Allied Transportation Company, a subsidiary of Allied Marine Industries, & two affiliated companies. Kirby Corporation, based in Houston, Texas, is the nation's largest domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. Allied is an operator of offshore barges and tugboats participating in the coastal transportation of petrochemicals…
Kirby Announces 2Q Results
Kirby Corporation (NYSE: KEX) announced net earnings attributable to Kirby for the second quarter ended June 30, 2011 of $41.7 million, or $.77 per share, compared with $29.3 million, or $.54 per share, for the 2010 second quarter. The 2011 second quarter results included an estimated $.07 per share negative impact from high water and flooding issues throughout the Mississippi River System. Consolidated revenues for the 2011 second quarter were $437.3 million compared with $273.7 million reported for the 2010 second quarter.
McAllister Joins Marine Response Alliance
The directors of Marine Response Alliance LLC (MRA or Alliance) announced that McAllister Towing and Transportation Co., Inc. (McAllister) has joined the MRA as a full and equal member. McAllister is now united with the other MRA member companies—Crowley Marine Services, Inc. (Crowley), Marine Pollution Control Corporation (MPC), Titan Maritime LLC (Titan) and Marine Hazard Response (MHR) (a joint venture of Wild Well Control, Inc. and Williams Fire and Hazard Control, Inc.) to provide OPA-90 Salvage and Marine Firefighting services to the maritime community.
Crowley Restructures Senior Management
Crowley Maritime Corporation announced a restructuring involving three members of its senior leadership team. John Douglass and Rob Grune will move to new positions, with Douglass taking over as senior vice president and general manager of Crowley's Puerto Rico/Caribbean liner services, and Grune taking over as senior vice president and general manager of Crowley's petroleum transportation group. Both executives will remain domiciled in Jacksonville and continue to report to Tom Crowley, chairman, president and CEO.