AEP to Sell AEP River Ops To ACL
American Electric Power (AEP) has signed an agreement to sell its commercial barge transportation subsidiary, AEP River Operations LLC, to American Commercial Lines (ACL), owned by Platinum Equity, for approximately $550 million. AEP River Operations is a commercial inland barge company delivering about 45 million tons of products annually, including 10 million tons of coal. AEP River Operations has 56 towboats, 2,301 barges and 1,090 employees. The company is headquartered in Chesterfield, Missouri, with operations in Paducah, Kentucky, and Convent, Algiers and Belle Chasse, Louisiana. AEP announced in March that the company was exploring strategic alternatives for AEP River Operations, including a potential sale.
The ‘Greening’ of America’s Marine Highways
Ingram Barge Company sees two kinds of green in their newest venture on the inland rivers. In late March, the Paducah-McCracken County Riverport Authority and Ingram Barge Company announced plans to assess the viability of Intermodal River Transportation, utilizing the largest flat-top crane in North America and Ingram’s towboats and barges. On March 27th, that plan came to life as the Paducah Riverport Authority’s 200-ton crane lifted 54 empty containers and stacked them neatly on an Ingram-owned barge. An Ingram towboat then transported the container laden barge to the port of St. Louis and then back to Paducah for unloading. The highly successful trial run tested the logistics of moving the intermodal containers via barge in the nation’s heartland.
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…
