Seabulk Intl. Finalizes Sale of Inland Barge and Towboat Fleet

Monday, April 01, 2002

Seabulk International has completed the sale of the inland barge and towboat fleet of its Sun State Marine Services, Inc. subsidiary to Colonial Towing, which is a subsidiary of Colonial Group, Inc. of Savannah, Ga. The proceeds from this sale, which amount to approximately $3.8-million will be used by Seabulk to pay down debt.

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