K-Sea Completes Acquisition of Smith Maritime and Sirius Maritime

Wednesday, August 15, 2007
K-Sea Transportation Partners L.P. has completed the acquisition of Smith Maritime, Ltd. of Honolulu, Hawaii and Sirius Maritime, LLC of Seattle, Wash. President and CEO Timothy J. Casey said: “We are very excited about welcoming the Smith and Sirius operating teams to K-Sea. This acquisition immediately increases our barrel-carrying capacity by 770,000 barrels, or 22% of our capacity of 3.5 million barrels at June 30, 2007. In addition, our ongoing vessel newbuilding program, under which we have ten new tank barges under construction, will add 524,000 barrels over the next three and one-half years.

“These transactions strengthen our operations on the West Coast and also expand our geographical presence to Hawaii, thus providing a further platform for future growth. We have also enhanced our ability to service those of our customers who have marine transportation requirements in more than one U.S. coastal market. We believe this strengthens K-Sea’s position as a leading provider of refined petroleum products transportation services in the U.S., and expands our ability to provide reliable and efficient service to our customers.”

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Hamburg Süd Christens Containership in S. Korea

Hamburg Süd yesterday celebrated the christening of its new containership San Christobal with customers and business partners at the Hyundai Heavy Industries shipyard in Ulsan, South Korea.

Odfjell Drilling in Tighter 2Q North Sea Market

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Profit & loss Q2 2014 Operating revenue for Q2 2014 was USD 272 million (USD 289 million),

Brazil AHTS Contract Breakthrough for Havyard

Havyard says it is to deliver the ship design and equipment for four anchor handling tug supply (AHTS) vessels that are to be built and operated by the Brazilian

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Winch
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: 0.1734 sec (6 req/sec)