The natural gas boom is driving increased domestic chemical production and demand for new tank barges.
Ingram Barge Company announced it will build 20 tank barges in 2015 to meet growing demand for chemical shipments.
“While most of the company’s recent tank barges have come through acquisitions, this continued expansion in their barge fleet coincides with a 10-year plan that began in 2007 to build barges with Trinity Industries,” the company said.
Ingram said with its building strategy, it has been able to maintain their fleet size as barges reach retirement age.
“Over the past several years, inexpensive natural gas has increased domestic chemical production and demand for new tank barges” on the inland river system,” it continued.
“The petrochemical industry remains strong and is one of our strategic areas for investment,” said Orrin Ingram, the company’s chief executive officer. “We’re building to replace retiring barges and to grow with our customers.”
Overall, Ingram has nearly 5,000 barges and 140 towboats.
Last week, in testimony before the House Transportation and Infrastructure Committee Subcommittee on Coast Guard and Maritime Transportation, Matthew Paxton, the president of the Shipbuilding Council of America, said increased oil and gas production has “been a boom for shipyards, who are currently building out 19 (options included) large petroleum product carriers representing billions of barrels new capacity for coastwise transportation. These vessels are both self-propelled and articulated tug/barge units; however, the inland and coastal barge market is also strong, with 341 tank barges delivered in 2013, up over 250 in 2012.”
Ingram Barge to build 20 tank barges
