UMG Barge Line Acquired by Ingram

press release
Friday, April 20, 2012

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"), a wholly owned barge transportation subsidiary of UMG, to Ingram Barge Company. Based in Tampa, the subsidiaries of UMG operate businesses in the dry bulk transportation and logistics industry, including U.S. United Bulk Terminal, LLC, the largest coal and petroleum coke handling facility in the Gulf of Mexico, and U.S. United Ocean Services, LLC, which operates the largest Jones Act dry bulk ocean fleet by capacity.

 

"Since acquiring UBL in 2007, we have developed the business as an independent provider of barging services to the domestic and export markets for coal, petroleum coke, grain and other dry bulk commodities.  We are proud of the results we have achieved with UBL and believe that the long history and exceptional reputation of the Ingram Barge Company speak to the opportunity for continued reliable service for our customers and opportunities for continued growth for our employees at UBL," said UMG Chief Executive Officer Steven Green.

 

The transaction is expected to close in the second quarter of 2012, subject to receipt of applicable regulatory approvals and satisfaction or waiver or other customary closing conditions. Ingram Barge Company is a subsidiary of Ingram Industries Inc., based in Nashville, Tennessee, which is one of America's largest privately held companies.  It consists of diversified businesses in physical and digital book, on-demand printing, marine transportation, and digital fulfillment services.

 

BofA Merrill Lynch acted as the financial advisor to UMG, and Willkie Farr & Gallagher, LLP acted as legal counsel to UMG on the transaction.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Recent strength in dry bulk shipping to be short-lived - Drewry

Drewry forecasts dry bulk freight rates in 2016 will be, on average, lower than in 2015, as the medium-to-long term fundamentals for dry bulk shipping will remain challenging,

Baltic Dry Bulk Index Dips on Weak Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, continued to dip on Wednesday due to sluggish demand across vessel segments.

Two ODCs Loaded at Hamburg Port

On 25 April, two Over-Dimensional-Cargos (ODC) tanks manufactured by Chart Ferox were loaded by Wallmann & Co., the long-established Hamburg company specializing in handling heavy lift cargoes.

Barges

LUKOIL Marine Lubricants Launches Barge in Singapore

Experiencing continued success and growing demand for the supply of marine lubricants, LUKOIL Marine has launched an additional supply barge named LUKOIL Marine.

OMB - Subchapter M Cleared for Publication

The Office of Management and Budget (OMB) completed its review of the draft final rule entitled Inspection of Towing Vessels, also known as "Subchapter M." The

Liebherr Offshore Crane on “Giant 7”

The Liebherr offshore crane division installed a board offshore crane, type BOS 35000 on the heavy lift barge “Giant 7”. The state of the art offshore crane will

Mergers & Acquisitions

Yilport Acquires Sweden's Gavle Terminal

Turkish terminal operator Yilport Holding has gained full control of Gävle’s terminals.   Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG).

Bureau Veritas Acquires TMC Marine

Bureau Veritas has acquired international consultancy TMC Marine Ltd.    TMC has provided pre- and post-casualty advice and support to the marine industry since 1979.

Maersk Mulls Acquisitions after Surprising Profit

Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0808 sec (12 req/sec)