K-Sea Partners buying Sirius Maritime

Wednesday, June 27, 2007
K-Sea Transportation Partners LP said it's buying Sirius Maritime LLC of Seattle and Smith Maritime Ltd. of Honolulu for $205m. New York-based K-Sea is buying 11 petroleum tank barges and 10 tugboats in the deal. The ships have 777,000 barrels of capacity. Sirius Maritime is owned by Gordon Smith, Robert Dorn and Wayne Sundberg. Smith also owns the Honolulu operation. K-Sea said it's paying $195m in cash and assumed debt and is issuing $10m in common stock for the companies, adding the deal should close in July or early August. Source: BizJournals
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USCG Free Boat from Ice Near Woods Hole

A Coast Guard crew responded to a fishing vessel trapped in ice in Woods Hole Passage, Woods Hole, Massachusetts, Saturday. At about 3 p.m., the crew of the fishing boat Capt.

Tug Boat Owner Jailed After Crew Man Dies

A tug boat owner was today was given an 8 month custodial sentence after his crew member died trying to reattach a tow line in a violent storm. During today’s hearing at Southampton Crown Court,

COMPIT to Showcase Smarter Ships, Systems & Solutions

The 14th International Conference on Computer and IT Applications in the Maritime Industries (COMPIT) will take place from 11th to 13th May 2015 in Ulrichshusen, Germany.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2679 sec (4 req/sec)