NEWS:SeaRiver Exits Inland Operations

Wednesday, January 29, 2003
National Steel and Shipbuilding Company (NASSCO) reached an agreement with SeaRiver Maritime, Inc. to develop a contract design for a 750,000-barrel capacity, double-hull crude oil tanker. Included with the contract design package will be NASSCO's price and delivery proposal for the detail design and construction of a minimum of two vessels. The SeaRiver tankers will be designed primarily for the movement of crude oil from Alaska to West Coat refineries.

Work on the contract design will begin immediately and will be delivered by September 2003. Subject to SeaRiver's acceptance of NASSCO's proposed price and delivery schedule, the agreement is expected to lead to a detail design and construction contract by the end of 2003. In a separate announcement SeaRiver Maritime divulged that it will discontinue its inland "River" Fleet operations on or about January 14, 2003. In addition, SeaRiver will close its inland operating offices in Baton Rouge, La., and Baytown, Texas. Related commercial activities coordinated out of SeaRiver's headquarters in Houston are not affected.

"This decision is the result of an ongoing evaluation of our operation," said SeaRiver President, Paul Revere. "We will be working closely with all affected employees and business partners to ensure that the transition is carried out in a smooth and orderly fashion. We will continue to focus our efforts to ensure that our customers receive safe, reliable and efficient marine transportation." About 200 SeaRiver fleet and shoreside personnel will be affected by the discontinuation of the River Fleet operations. "In addition to severance benefits, SeaRiver will provide career placement assistance to help employees through the transition period," Revere added. SeaRiver signed an asset purchase agreement with Kirby Corporation for the sale of SeaRiver's owned River Fleet assets. SeaRiver will sell 48 double hull inland tank barges and 7 inland towboats to Kirby for $35.4 million in cash. SeaRiver's two remaining towboats and two of its harbor tugs will also be sold, and in-chartered chartered equipment will be returned to its owners or assigned to service providers as a result of this announcement. Commercial contracts and other operating agreements will be initiated, as necessary. Additional details of the sales agreement and contract terms for transportation are confidential.

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

Ship Repair & Conversion

Sipu Muin Modernization Work to Begin in May

Canadian Coast Guard plans upgrades for Air Cushion Vehicle   A scheduled modernization of the Canadian Coast Guard CCGS Sipu Muin will see the Air Cushion Vehicle

Raytheon Anschütz Steering Gear Control for Luxury Cruise Ships

The German navigation system manufacturer Raytheon Anschütz was awarded a retrofit contract of steering gear control systems for two luxury cruise ships chartered by Noble Caledonia Ltd.

Ferry Drydocking Completed on 2-day Turnaround

Great Lakes Shipyard hauled out the Kelleys Island Ferry Kayla Marie on April 18 for its USCG five-year inspection survey. The yard completed all work, and refloated the vessel two days later,

Workboats

Harley Marine Orders Two Harbor Tugs

Harley Marine Services announced the construction of two new ship handling vessels to be built at Diversified Marine in Portland, Ore. The two tugs are sister class

Jensen Debuts New Tractor Tug Design

Crowley Maritime Corp.’s Seattle-based naval architecture and engineering firm, Jensen Maritime, reports it has designed a new tractor tug for Vessel Chartering

Skandi Paraty Delivered and On-hire

Skandi Paraty, owned by Norskan Offshore Ltda, has been delivered from the yard and went on-hire on a four years contract with Petrobras.   Skandi Paraty is an AHTS,

 
 
Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators 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: 0.0869 sec (12 req/sec)