Seacor Holdings News

KOTUG International, a marine services and towage provider based in the Netherlands, announced on Thursday it has concluded its acquisition of Kotug Seabulk Maritime (KSM), taking full ownership of the Caribbean marine towage business.KOTUG said it has acquired the interest of its joint venture partner, Fort Lauderdale, Fla.-based SEACOR Holdings via its Seabulk subsidiary KS Maritime Holdings, owner of the 50% share in KSM.Founded in 2017, KSM acts as the exclusive provider of maritime terminal support services for Buckeye Partners’ Bahamas Hub…

Marine Towing of Tampa announced it is expanding its ship assist services to Florida's east coast following a deal with E.N. Bisso & Son to acquire towing assets formerly owned by SEACOR Holdings' Seabulk arm.In September 2023, SEACOR divested its U.S. harbor towing operations, selling to Bisso 12 tugs across ports in Florida and Alabama.Under a recently executed asset purchase agreement with Bisso, Marine Towing of Tampa acquired the Port Canaveral operations and assets from the SEACOR-Bisso deal and will operate them in Canaveral under a newly formed affiliate…

Nashville-based Ingram Barge Company announced it has formed a new material handling and supply chain solutions subsidiary, Ingram Infrastructure Group.The move, fueled by the company's acquisitions of Inland River Transport Holdings (SCF) and NexStar Solutions, is intended to enhance Ingram's end-to-end supply chain solutions capabilities.Ingram acquired integrated river transportation and logistics services provider SCF from SEACOR Holdings following the signing of a purchase agreement last October.Ingram currently operates across more than 4,500 miles of the U.S.

SEACOR Holdings Inc. announced it has concluded the sale of its Caribbean liner and logistics business SEACOR Container Lines LLC (“SEACOR Island Lines”) to King Ocean Services Ltd. The transaction includes all operations and assets.King Ocean specializes in marine transportation and logistics solutions to close to 50 destinations across the Caribbean and South and Central America out of their Port Everglades facilities in Ft Lauderdale, Fla.“For 40 years, King Ocean, a multi-generational…

Fort Lauderdale, Fla. based SEACOR Holdings Inc. announced it has signed a definitive agreement to sell its inland river transportation and logistics business to Ingram Barge Company LLC, a division of Nashville-based Ingram Marine Group.Part of the SEACOR family of businesses for over two decades, Inland River Transport Holdings LLC (SCF) includes more than 1,000 covered dry cargo hopper barges, eight 6,000-plus horsepower towboats and a network of terminal and fleeting infrastructure along the Mississippi River.“I am extremely pleased to enter this transaction with Ingram…

SEACOR Holdings said Monday it had agreed to sell its U.S. harbor towing operations and assets from its Seabulk subsidiary to two parties, E.N. Bisso & Son, Inc. and Bay-Houston Towing Co.The E.N. Bisso transaction includes 12 harbor towing vessels across ports in Florida and Alabama. Bay-Houston is acquiring eight vessels operating in Texas along the Sabine Neches Navigation District and in the Port of Lake Charles, La."E.N. Bisso and Bay-Houston are two industry-leading harbor towing providers supported by many decades of safe and reliable operations…

U.S. maritime companies Crowley and SEACOR Holdings' Seabulk Tankers have created a new joint venture that combines their liquid energy and chemical transportation vessels, operations and related services into a new, independent U.S. Jones Act service provider.The new company, Fairwater Holdings, will serve the U.S. domestic market with vessels and marine transportation solutions across the petroleum and chemical trades, as well as related third-party ship management services. It will include 20 oceangoing, articulated tug-barges (ATB) and 11 tankers, many under long-term charter.

Tim Clerc’s maritime career spans half a century, starting with his cadet training in 1969 in the U.K. He sees hybrid technology as one of the most transformational technological developments in maritime in that span, and the company is currently awaiting its 10th hybrid, the Seacor Yangtze. Clerc discusses the hybrid strategy and offers some practical insights.If you had to pick one technology that you think has made the business of running ships more efficient, more cost effective…

Port of New Orleans (Port NOLA) and CLEANCOR Energy Solutions LLC (CLEANCOR), a subsidiary of SEACOR Holdings Inc. (SEACOR), signed a memorandum of understanding (MOU) on August 17, 2021, to collaborate on ways to provide liquefied natural gas (LNG) fueling solutions to ship owners and operators within Port NOLA’s jurisdiction that would benefit from reduced environmental emissions. CLEANCOR, an alternative energy company, will work with Port NOLA to help provide LNG to Port customers and marine operators in Port NOLA’s jurisdiction.

SEACOR Holdings Inc. completed its acquisition of U.S. Shipping Corp (USSC), a privately owned provider of long-haul marine transportation for chemical and petroleum cargoes in the U.S. coastwise trade, operating under the Jones Act.

Florida-based transportation and logistics firm SEACOR Holdings Inc announced Monday it has entered into a deal with private equity firm American Industrial Partners (AIP) to take the company private in an all-cash transaction valuing it at about $1 billion, including net debt.SEACOR said New York-based AIP will commence a tender offer to buy all its outstanding shares at $41.50 apiece, a premium of about 14% to the company’s closing stock price on Friday, and a premium of approximately 31% over the 90-calendar day volume weighted average price.The agreement was approved by SEACOR’s board of directors and they recommend that SEACOR stockholders tender their shares in the offer.The deal is expected to close by the end of the first quarter of 2021.

The inland waterway system, flowing through the United States heartland, is a microcosm of all that has been happening in 2020: trade tensions, infrastructure issues, shifting trends in fuel consumption and the pandemic that has gripped us since the winter months. Shortly after the initial coronavirus outbreak here in the U.S., maritime workers were deemed to be “essential”, paving the way for cargo flows to recover from their springtime nadir. As COVID-19 infections turned up on U.S. shores, the boats continued plying the waterways, albeit with reduced volumes in some cases.

SCF Marine Inc., a subsidiary of SEACOR Holdings Inc., announced that its container on barge service, operated by SEACOR AMH, is participating in a 12-month accredited U.S.-based carbon offset program starting June 2020.“Through this initiative, diesel carbon emissions from AMH’s container service and the St. Louis, Memphis and Port Allen terminals will be offset to achieve carbon neutrality, a benefit AMH is proud to extend to its direct and indirect customers,” said Rich Teubner…

Seabulk Towing Holdings Inc., a subsidiary of SEACOR Holdings Inc., announced it is participating in a U.S.-based carbon offset project to neutralize carbon emissions from the physical operation of its harbor tugs in 2020.Daniel Thorogood, chief executive officer of Seabulk, said the company’s investment in an accredited carbon offset program is an initial step toward longer-term solutions that improve or eliminate direct emissions from its equipment. Seabulk, through its affiliates…

German propulsion manufacturer SCHOTTEL announced it has been awarded a contract from Alabama shipbuilder Master Boat Builders to supply a total of six rudderpropellers for a pair of new tugs being constructed for U.S.-based Seabulk Towing Inc, a subsidiary of SEACOR Holdings Inc.Both Robert Allan Ltd.-designed newbuilds will feature the Advanced Rotortug (ART) design triangular propulsion system.The tugs will be propelled by three SCHOTTEL Rudderpropellers type SRP 430 FP with a propeller diameter of 2.4 meters, each driven by a 1,771-kilowatt diesel engine.

Florida-based marine services company Seacor Holdings said that its indirect wholly-owned tanker subsidiary SEA-Vista entered into an amended and restated $200 million credit agreement, which refinanced its existing credit facilities, with a syndicate of lenders led by JPMorgan Chase.The agreement provides for a $100 million revolving credit facility and a $100 million term loan facility, both of which mature in December 2024. The agreement allows SEA-Vista to use the borrowings for general corporate purposes, including acquisitions, and contains a $50 million accordion feature subject to lender approval.At closing, the revolving credit facility remained undrawn, and approximately $76 million of the term loan proceeds were used to fund the repayment of SEA-Vista’s original credit facility.

Seabulk Towing Holdings Inc., a subsidiary of SEACOR Holdings Inc., announced Wednesday it has contracted with Alabama-based Master Boat Builders, Inc. for the construction of four 80 metric ton bollard pull harbor tugs with an expected delivery beginning in the second half of 2021 through early 2022.Two of the newbuilds will augment the company’s existing Rotortug fleet and feature updates to the Rotortug design, Seabulk said.The other two Azimuth Stern Drive newbuilds will be equipped with diesel mechanical and electric motor propulsion systems. These vessels represent Seabulk’s initial investment in hybrid power towing assets and will operate alongside the company’s existing harbor fleet in the U.S. Gulf of Mexico and the U.S. East Coast.

The advent of industry wide tightening of allowable sulfur emissions is getting nearer. Suddenly, with the deadline now little more than one year away, the countdown clock will very soon be ticking much louder. Simply stated, the cap on allowable sulfur content in marine fuels, presently at 3.5 percent in many geographical regions, will be reduced to 0.5 percent in January 2020. The 0.1 percent sulfur cap, already in effect since 2015 in coastal Emissions Control Areas (ECAs) in Europe and North America…

The U.S. towing and tug business is 5,500 boats, more than 31,000 barges with an estimated total impact on U.S. GDP of $33.8 billion.“At a macro level, the bigger ships are causing downward pressure on the ship assist business because there are fewer ship calls given the increased capacity of these vessels. However, certain ports have seen tremendous growth, based on strategic location and infrastructure investments that have attracted these larger ships and been a net plus for these areas.”Kate Fuhrman…

Seacor Holdings Announces Acquisition of Joint Venture Partner’s Interest in Sea-Vista.SEACOR Holdings Inc. announced that it has become the sole owner of its consolidated SEA-Vista joint venture, acquiring through a subsidiary the 49% interest that had been owned by an affiliate of Avista Capital Partners (the “Seller”). Purchase consideration consisted of $106 million in cash and 1,500,000 shares of the Company’s common stock (the “Consideration Shares”).In connection with the purchase…

Brazilian investigators said on Friday a Greek-flagged ship carrying Venezuelan crude was the source of oil tarring thousands of kilometers of coastline over the past two months.While prosecutors and police did not name the vessel, a prosecutors' document obtained by Reuters identified the ship as the Bouboulina, owned by Greece's Delta Tankers Ltd. Police said the tanker appears to have spilled the crude about 700 km (420 miles) off Brazil's coast between July 28-29, bound for Singapore with oil loaded at Venezuela's San José terminal.Delta Tankers did not immediately respond to a request for comment.Brazil's solicitor general said the country would seek damages in the case…

Cleancor Energy Solutions, a unit of the the marine services company SEACOR Holdings, launched a joint initiative with the logistics and barge transportation company SCF Marine to increase the use and supply of LNG and CNG natural gas throughout the Mississippi River system.SCF’s in-depth knowledge of the U.S. Inland Waterways and its strategically located ports, terminals, barge fleets, and existing customer relationships provide Cleancor with a robust platform from which to deploy modern and mobile LNG and CNG equipment. In addition to bunkering towboats, LNG can serve as a viable and scalable alternative fueling solution for a variety of inland manufacturing…

Seabulk Tankers, a subsidiary of SEACOR Holdings, has announced the successful delivery of its first methanol parcel chemical shipment aboard the articulated tug-barge (“ATB”) Sea-Power/Sea-Chem I.The Sea-Power/Sea-Chem I loaded a 10,500 metric ton methanol parcel in the U.S. Gulf of Mexico and discharged the parcel in Charleston, South Carolina and Chesapeake, Virginia. The vessel can load up to 30,000 metric tons of cargo into eleven segregations and is equipped with stainless steel cargo piping and MarineLINE 784 cargo tank coating. She is one of the most modern, fuel efficient, and capable chemical parcel vessels in the Jones Act fleet today.Methanol is a liquid chemical produced from conventional fossil sources as well as sustainable raw materials like biomass…