Kirby purchases barge fleet from Seaboats
GREENVILLE — Kirby Corporation has purchased the coastwise tank barge fleet of Seaboats Inc. and affiliated companies consisting of three 80,000-barrel coastwise tank barge and tug units for $42.3 million in cash. The three coastwise tank barge and tug units currently operate along the East Coast and have an average age of five years. Financing of the purchase was through Kirby’s $250 million revolving credit facility.
Joe Pyne, Kirby’s chairman and CEO, said, “The three tank barges are sister barges, built to the same design as our four 80,000-barrel tank barges and will expand our fleet capacity, service capabilities to our customers and provide additional flexibility.”
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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Ridgeland property rights tussle is expected to have wide impact
- Host families prepare for Mississippi Braves’ season
- JOSH MABUS — Mississippi’s Healthcare: Not a quality problem, a marketing problem
- Mississippi takes an incentives licking, keeps on ticking
- Investors in Northbrook complex say Ridgeland targeting its own collateral for demolition
- AWAITING ITS FATE: Gables complex may have to shrink to meet law
- PHIL HARDWICK: When will Mississippi change its culture?
- HUNTER ARNOLD: Mississippi, Gulf Coast states focus on global business markets
- Mississippi furniture makers on rebound with more exports