Keppel Sells Logistics Units to Sinotrans
Keppel Telecommunications & Transportation (Keppel T&T) has entered into agreements to divest its entire stakes in Keppel Logistics (Foshan) Co (KLF) and Keppel Logistics (Hong Kong) to Sinoway Shipping, a subsidiary of Sinotrans Limited, for about S$39 million.Expected to be completed in 2019, the proposed divestments are in line with Keppel T&T's strategy to unlock value and recycle capital, allowing the company more flexibility to pursue other opportunities.Thomas Pang, CEO of Keppel T&T, said, "The divestments are part of Keppel T&T's efforts to sharpen its focus and reallocate capital to grow other parts of its businesses. We would like to thank Sinotrans…
Lynden to Provide Barge Service for Tulsequah Mine Project
Lynden Logistics, LLC signed a letter of intent with Chieftain Metals Corp. to provide barge services in support of the construction and production of the Tulsequah Mine in British Columbia. The services will include the barging of materials and supplies up the Taku River to the mine site and, when the mine is in production, the barge shipment of concentrate down the Taku River for transport to smelters in Asia. The polymetallic concentrate will be loaded at the mine site in bags and placed in sealed marine containers for the entire transportation move. "It is exciting to see another mine project proceed toward development with economic benefits for Southeast Alaska…
UMG Barge Line Acquired by Ingram
United Maritime Group, LLC Announces Agreement to Sell U.S. United Barge Line, LLC to Ingram Barge Company. United Maritime Group, LLC ("UMG") today announced that it has entered into a definitive agreement to sell U.S. United Barge Line, LLC ("UBL"), a wholly owned barge transportation subsidiary of UMG, to Ingram Barge Company. Based in Tampa, the subsidiaries of UMG operate businesses in the dry bulk transportation and logistics industry, including U.S. United Bulk Terminal, LLC, the largest coal and petroleum coke handling facility in the Gulf of Mexico, and U.S. United Ocean Services, LLC, which operates the largest Jones Act dry bulk ocean fleet by capacity.
U.S. United Barge Line Sold
United Maritime Group agrees to sell its U.S. United Maritime Group, LLC ("UMG") announces that it has entered into a definitive agreement to sell U.S. United Barge Line, LLC ("UBL"), a wholly owned barge transportation subsidiary of UMG, to Ingram Barge Company. Based in Tampa, the subsidiaries of UMG operate businesses in the dry bulk transportation and logistics industry, including U.S. United Bulk Terminal, LLC, the largest coal and petroleum coke handling facility in the Gulf of Mexico, and U.S. United Ocean Services, LLC, which operates the largest Jones Act dry bulk ocean fleet by capacity. "Since acquiring UBL in 2007…
ACL Closes the Sale of its Venezuelan Operations
American Commercial Lines Inc. (ACL) announced that it has closed the previously announced sale of its interest in ACBL Venezuela, LTD and GMS Venezuela, C.A. . The sale results in the divestiture of the Company’s barge, towboat and related assets that were used to provide barging services on the Orinoco River in Venezuela. The sales proceeds are approximately thirty-two million United States dollars (US $32,000,000), subject to post-closing adjustments. The ownership interest was sold to a consortium of businessmen.
