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 March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Cargotec Solely owns China Crane

Cargotec and CAG Marine Holding Limited, which is in turn wholly owned by Carlyle Asia Growth Partners IV, L.P. and CAGP IV Coinvestment, L.P. (jointly referred

Hamburg Süd Completes CCNI Takeover

Effective 27 March 2015, Hamburg Süd has taken over the container liner activities of Compañía Chilena de Navegación Interoceánica S.A. (CCNI) including the

MacGregor Appoints Høyesen as VP

MacGregor reorganised into seven operative divisions in the beginning of 2015 to improve customer focus. Offshore Mooring and Loading Division drives the development

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1471 sec (7 req/sec)