Hornbeck-Leevac Expands Tug and Barge Fleet in Northeast U.S.
June 11, 2001
Hornbeck-Leevac Marine Services has acquired the Spentonbush/Red Star Group marine transportation fleet for $28 million, and has entered into a strategic alliance with Amerada Hess Corp. in the Northeast U.S. market. The vessels acquired include nine ocean-going tugs and ocean-going tank barges.
In addition to the acquisition of the Hess fleet, Hornbeck-Leevac has signed a long-term contract with Amerada Hess with the understanding that it will be excluseive marine logistics provider and transporter of petroleum products in the Northeast U.S. These vessels will be utilized primarily in the transportation of gasoline, and residual fuel oil between refineries, distribution terminals and ships lightering across the Eastern Seaboard. The transaction also covers the right to acquire Amerada Hess's marine facility in Brooklyn where Hornbeck-Leevac's regional operations will now be based.
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