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

People & Company News

2 Americans Rescued North of Cuba

A Coast Guard MH-60 helicopter crew rescued two American sailors whose vessel ran aground approximately 25 miles north of Gibara, Cuba, Friday. Watchstanders

Shell CEO Backs Fossil Fuels, Climate Change Warnings

The world's fossil fuel reserves cannot be burned unless some way is found to capture their carbon emissions, Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden said on Friday.

Severe Flooding Cuts Off Lone Road to Alaska's Oilfield

Alaska's lone road to North Slope oil field operations remains closed for the third time in two months while emergency crews continue to redirect flooding from an adjacent river,

 
 
Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1373 sec (7 req/sec)