Inland Barge Business News

“In God we trust. All others must have data.”When Ed Grimm took the helm of Southern Towing Company (STC)as President and CEO, he inherited an enviable team of leaders, engineers, mentors, communicators and analysts. Today STC is a clear leader on the inland waterways, pioneering and proving the business and safety value of Z-Drives on the river towboats.How did you come to the top spot at Southern Towing Company?I started in the energy industry at 16 working at an oil storage depot in New York Harbor, working there through high school and putting myself through college.

Genesis Energy, L.P. has agreed to acquire for approximately US$230-million all the assets of the downstream transportation business of Hornbeck Offshore Transportation, LLC (“Hornbeck”). The business is primarily comprised of nine barges and nine tug boats which transport crude oil and refined petroleum products, principally serving refineries and storage terminals along the Gulf Coast, Eastern Seaboard, Great Lakes and Caribbean. At the closing of the transaction, Hornbeck and Genesis expect to enter into transition service agreements to facilitate a smooth transition of operations and uninterrupted services for both employees and customers.

Seacor — through an unprecedented string of strategic and financially sound acquisitions — has emerged as one of the world's premier operators of a fleet of vessels that provide marine services to the oil and gas exploration and production industry, and oil spill response services in the U.S. Gulf of Mexico, North Sea, offshore West Africa, the Far East and Latin America. For the fiscal year ended December 31, 2000, the company announced net earnings of $11.1 million on revenues of $88.3 million. For the 12 months ended December 31, 2000, net earnings were $34.1 million on revenues of $339.9 million. The improvement in the fourth quarter…

MarineNews presents an old-fashioned roundtable discussion — collected via high-tech means — presenting the thoughts and concerns on the minds of six top executives from leading marine companies. MarineNews thanks Tom Allegretti, President and CEO, American Waterways Operators; Merritt Lane, President & CEO, Canal Barge Co.; Craig Philip, President & CEO, Ingram Marine Group; Joe Pyne, President & CEO, Kirby Corporation; Mark Knoy, President, Memco Barge Line; and Barry Palmer, President & CEO, Waterways Work! for sharing their views and expertise with our readers. MN: What is the most pressing challenge you feel is facing the barge/towing industry today?

In an update to previously disclosed litigation in their inland barge business group, Trinity filed a Form 8-K noting that another lawsuit had been filed involving barges valued at approximately $14 million. The following is an update to the issues raised in a previously reported lawsuit filed against the Company and a coating manufacturer by Florida Marine Transporters, Inc., a tank barge customer, seeking recovery of damages related to corrosion problems with eighteen barges purchased from the Company's subsidiary, Trinity Marine Products, Inc. The company has been advised that J. Russell Flowers, Inc. (JRF), a barge leasing customer of Trinity Marine…