KIRBY BUYS BARGES, TOWBOATS FROM EXXONMOBIL AFFILIATE
Kirby Corp., the Houston-based inland barge and towboat operator, has announced an agreement to acquire 48 double-hull inland tank barges and seven inland towboats from SeaRiver Maritime, Inc., the U.S. transportation affiliate of ExxonMobil.
The price of the asset purchase is $35.4 million, in cash.
Kirby will also assume SeaRiver’s leases of 16 double-hull inland tank barges.
At closing, Kirby will enter into a contract to provide inland marine transportation services to SeaRiver, transporting petrochemicals, refined petroleum products and black oil products throughout the Gulf intracoastal waterway and the Mississippi river system.
The transaction between Kirby and SeaRiver marks the discontinuation of inland marine operations by SeaRiver. About 200 SeaRiver fleet and shoreside personnel will be affected by the discontinuation.
The SeaRiver tank barge fleet has an average age of 16 years.
Kirby stressed that the acquired inland tank barges are double-hull, whereas new regulations require the more rapid phase-out of single-hull tank barges.