American Electric Power Co. Inc. signed a definitive agreement with Progress Energy Inc. to buy its MEMCO Barge Line Inc. for $270 million, in a deal AEP said would immediately add to its earnings. Columbus, Ohio-based AEP said its AEP Resources Inc. wholly-owned subsidiary will buy 1,200 hopper barges and 30 towboats from Electric Fuels Corp., a Progress subsidiary, making AEP one of the leading barge operators. "The coupling of the MEMCO barge assets with our existing fleet will add earnings and significant information flow in the sometimes-neglected transportation component of our business," said Paul Addis, executive vice president of AEP's Wholesale activities. The deals includes the early termination of lease financing related to certain assets of MEMCO and is expected to close in 60 days, the company said. AEP said the combined barge fleets annually will move 50 million tons of dry bulk commodities, including grain and coal. - (Reuters)
American Commercial Barge Line announces its decision to use Originals Online to enhance the exchange of barge freight commercial documents with its customers. The system uses the patented eOriginal technology, providing a secure, web-driven process for initiating, signing, endorsing, verifying and storing electronic barge freight transaction documents. James F. Farley, ACBL’s Senior V.P. of Marketing said, “We are pleased to offer our customers an opportunity to join us in reducing our
Crowley acquired the Alaska-based fuel distribution business of Northland Fuel, LLC. The purchase consists of the assets of Yukon Fuel Company, Northland Vessel Leasing and the stock of Service Oil and Gas, Inc. Crowley has also acquired the assets of Yutana Barge Lines, LLC from an affiliated company. The acquired businesses will be added to Crowley's newly formed Petroleum Services business segment. Service Oil and Gas will continue to operate under that brand name
JeffLabs, an affiliate of American Commercial Lines Inc, has signed an agreement with Jeppesen Marine to perform river trials of Jeppesen Marine's navigation software in conjunction with American Commercial Barge Line LLC under a beta test agreement between the two parties.
At its Annual Meeting held October 1 in Houston, the Board of Directors of Waterways Council, Inc. (WCI) elected the following officers and Executive Committee members for 2007-2008: Dan Mecklenborg, Senior Vice President, HR & Chief Legal Officer, Ingram Barge Company, Chairman; R. Barry Palmer, WCI, President and CEO; Steve Little, President and CEO, Crounse Corporation, General Counsel; Peter Stephaich, Chairman, Campbell Transportation Co
A Progressive Barge Lines 2400 hp 75 x 28-ft. pushboat has a bright new paint job and is nearly ready to be swung into the canal. A second boat, which was being built at Eymard Bros. Towing’s yard at along the opposite side of the canal, was gone from the yard. It is back down the canal at where it is being finished out. Lee Leboeuf had purchased the boat with all the steel work completed and the engines installed
Inland mariners are suppressing staged fires on a towboat superstructure in a new "hands-on" safety course developed by Seamen's Church Institute's Center for Maritime Education Paducah, Ky. SCI's creative initiative brought together the City of Paducah, a local college, and the maritime industry to create the first-ever fire safety course designed specifically for those who work the rivers. Developed in response to updated U.S
The U.S. Coast Guard issued a Notice stating that the regulations issued on April 23, 2002 establishing a special load line regime for river barges operating on certain Lake Michigan routes came into effect on June 20, 2002. Owners or operators of dry cargo river barges desiring to operate on those Lake Michigan routes must submit barge information to the Coast Guard in order to qualify for the special regime.
American Commercial Lines Inc. (ACL), one of the largest and most diversified inland marine transportation and service companies in the United States, announced today the appointments of Mark Knoy as President and Chief Executive Officer and David Huls as Senior Vice President and Chief Financial Officer. Industry veteran Mark Knoy, 52, is joining ACL following a seventeen year career at AEP River Operations, LLC, a subsidiary of American Electric Power Co., Inc
Industry and the federal government continue to work together to improve less than optimal conditions on the U.S. inland waterways. Measurable, although slow progress is being achieved. The summer of 2012 brought drought and poor navigating conditions to the inland waterways. Low water levels continued into the fall and threaten to move into winter, but the event has demonstrated how barge industry and government relations have changed over the years and what challenges remain.
Argosy Barge Lines, LLC of Bellaire, Texas, accepted the Madelaine-D 2502 as the newest addition to their fleet in March 2013. The ABS-classed deck barge was built by Sterling Shipyard of Port Neches, Texas. The barge was designed by Bristol Harbor Group, Inc
MarineCFO, a division of VerticaLive Inc., announced today that Tidewater Barge Lines has chosen to implement the full MarineCFO Enterprise software suite, including Personnel, Operations, Maintenance and Vessel Live! Tidewater is a provider of marine transportation and terminal services on the
Vigor Fab has been awarded a contract by Tidewater Barge Lines of Vancouver, Wash, to construct 3 new tugboats. Construction of the first tug will start on Jan. 24, 2014, with the keel laying (the formal recognition of the start of a ship’s construction) at Vigor’s facility in
Answering the needs of longstanding clients, bulk transport giant AEP dips its toes into the liquid transport arena. AEP River Operations needs no introduction for most MarineNews readers. One of the true river giants operating on America’s domestic
United Maritime Group, LLC Announces Agreement to Sell U.S. United Barge Line, LLC to Ingram Barge Company. United Maritime Group, LLC ("UMG") today announced that it has entered into a definitive agreement to sell U.S. United Barge Line, LLC ("UBL")
New York, April 24, 2012 -- Moody's issued a press release on the planned sale of United Maritime Group, LLC's ("UMG", B2 stable) inland river barge operation, United Barge Line, LLC ("UBL") to Ingram Barge Company (not rated) for $222 million
Ingram Barge Company today completed its acquisition of U.S. United Barge Line, LLC (“UBL”), a barge transportation company headquartered in Tampa, Florida. The proposed transaction was announced on April 19 and, following the receipt of necessary government approval and
W&O and Emerson Process Management have announced that a Micro Motion MID-Certified (Measurement Instrument Directive) Marine Bunker Measurement Solution has been installed on a barge operated by Progressive Barge Line, Inc. in the Port of New Orleans, La.
American Commercial Lines (ACL) is pleased to announce that it will begin transporting crude oil by barge on the U.S. inland waterways for MEG Energy (U.S.) Inc. (MEG Energy), a subsidiary of the Canadian oil company MEG Energy Corp.
The Ports of Indiana named Rick Heimann Port Director for the Port of Indiana-Burns Harbor effective January 16. Heimann recently served as Sourcing Manager, specializing in rail and water transportation, for ArcelorMittal USA in East Chicago.
American Commercial Lines Will Transport Petroleum Products by Inland Barge for SeaRiver Maritime Inc. American Commercial Lines (ACL) is pleased to announce that it has entered into an agreement with SeaRiver Maritime Inc., a marine affiliate of Exxon Mobil Corporation
Highlights Adjusted EBITDAR of $232.1 million for the year -- a 33% increase over prior year Operating income of $61.1 million for the year -- an increase of $57.4 million compared to prior year
Foss Maritime Co. will lay off its 60 workers and leave the Columbia River, OregonLive.com reported. OregonLive said the Seattle company will sell its Columbia River business to Tidewater Barge Lines, which moves grain and other cargo along the Columbia-Snake river system
PBL 3421 was delivered by Raymond & Associates, LLC, Bayou La Batre, AL, to Progressive Barge Line, Inc., New Orleans. PBL 3421 is the first of two barges, both 297.5 x 54 x 12 ft. inland service double skin tank barges, each witha cargo capacity of about 4700 short tons at 11.5 ft
American Commercial Lines (ACL) has been selected to serve as a representative on the Inland Waterways Users Board (IWUB), an advisory board established to monitor the Inland Waterways Trust Fund (Fund) and make recommendations to the Army Corps of Engineers and to Congress on investment