Saltchuk News

Great Lakes Dredge & Dock Corporation and Saltchuk Resources, Inc. announced a definitive agreement for Saltchuk to acquire Great Lakes at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies, Saltchuk will commence a tender offer to acquire all outstanding shares of the Company for $17.00 per share in cash. The per share purchase price represents a 25% premium to Great Lakes’s 90-day volume-weighted average price as of February 10…

Eastern Shipbuilding Group (ESG) launched the first of the four Saltchuk escort tugs.“We are proud to advance this important project for Saltchuk Marine and look forward to continued progress as we move toward delivering these high-quality escort tugs,” said Joey D’Isernia, CEO of Eastern Shipbuilding Group, Inc. “These four vessels set a new maritime standard that will positively impact the industry by meeting new rigorous environmental requirements.” said Jason Childs, Saltchuk…

Shipbuilding in the United States has seen a heightened profile with increased attention from Congress and the Trump 2.0 Administration. The ongoing dialogue regarding reinvigorating the U.S. deep sea fleet has brought mainstream attention to vessel construction, which has been nearly absent in recent years. In contrast, the marketplace for domestic vessel construction, for vessels serving rivers and harbors, is alive and well. Recent newbuilds for linehaul trades, and also Z-drive vessels for ship assist work, show the resilience of this sector.

With a diverse maritime and logistics operation supporting more than 8,000 careers on land and at sea, Saltchuk has a robust workforce development initiative across its brands. Mark Tabbutt, Chairman, Saltchuk, discusses a pair of specific recent investments in Puerto Rico, as well as workforce development as a corporate imperative.Watch the full interview with Mark Tabbutt, Chairman, Saltchuk, on Maritime Reporter TV:Saltchuk is a driving force on the U.S. maritime scene, a diverse maritime and logistics conglomerate with revenues topping $5 billion in 2024 and a workforce of approximately 8…

In a significant investment in Puerto Rico's education and workforce development, Saltchuk has partnered with both the University of Puerto Rico at Mayagüez (UPRM) and the Polytechnic University of Puerto Rico (PUPR) to establish two programs focused on transportation and logistics. These strategic initiatives seek to develop skilled professionals, enhance industry research, and support long-term economic and social progress on the island.Saltchuk has entered into a Memorandum…

The bipartisan, bicameral bill will fuel U.S. economy, strengthen national security by responding to China’s threat over the oceans. Currently, the number of U.S.-flagged vessels in international commerce is 80; China has 5,500.Today, Senator Mark Kelly (D-AZ), Senator Todd Young (R-IN), Representative John Garamendi (D-CA-8), and Representative Trent Kelly (R-MS-1) introduced the Shipbuilding and Harbor Infrastructure for Prosperity and Security (SHIPS) for America Act, comprehensive legislation to revitalize the United States shipbuilding and commercial maritime industries. After decades of neglect, the United States has a weakened shipbuilding capacity, a declining commercial shipping fleet that is dwarfed by China, and a diminished ability to supply the U.S. military during wartime.

Eastern Shipbuilding Group (ESG) reached an exciting milestone today, initiating steel cutting for the first of four advanced escort tugs for Saltchuk Marine at its Allanton Facility. Attending the ceremony were key members of Saltchuk's leadership team. These high-performance vessels are scheduled for delivery in 2026."Our team is excited to begin construction on these state-of-the-art escort tugs for Saltchuk," said Joey D’Isernia, Chairman and CEO of Eastern Shipbuilding Group, Inc.

Schottel won an order to supply azimuthing thrusters for four new escort tugs for Seattle-based Saltchuk Marine, the beginning of the renewal of the Saltchuk fleet for operations on the US West Coast, Hawaii, and Alaska.To be built by Eastern Shipbuilding, the vessels are a RApport 2600 design by Canadian naval architect Robert Allan and will measure 25.6 x 12.8m with a 5.5-m draft. Accommodation will be provided for eight persons, and they will be operated by Foss Maritime.Each tug will be equipped with two azimuthing Schottel RudderPropellers of the type SRP 510 each.

Seattle-headquartered Saltchuk on Wednesday announced it has completed its acquisition of Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—previously OSG’s largest shareholder—said it completed a $950 million transaction to purchase all outstanding shares of OSG common stock at $8.50 per share in cash, making OSG a wholly owned subsidiary. OSG common stock is now delisted and deregistered from the from New York Stock Exchange.OSG…

Eastern Shipbuilding Group (ESG) on Monday announced it has been awarded a contract to construct four new escort tugs for Saltchuk Marine's Foss Maritime. The vessels will be built at ESG’s Allanton and Port St. Joe facilities, in Florida, with delivery expected in 2026.The order marks the beginning of Saltchuk Marine’s long-term fleet renewal project, with the new tugs set to support West Coast port operations and comply with EPA Tier 4 and California Air Resources Board (CARB) environmental requirements.The newbuilds will be RApport 2600 ship assist/escort tugs designed by Robert Allan Ltd.

Seattle-headquartered Saltchuk on Monday announced it has entered into a definitive agreement to acquire Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla., in a deal worth $950 million.Privately-held Saltchuk—OSG’s largest shareholder—said the transaction assigns OSG an aggregate equity value of approximately $653 million. Under the deal's terms, Saltchuk will commence a tender offer to acquire all outstanding shares of OSG it does not already own for $8.50 per share in cash…

Seattle-headquartered Saltchuk Holdings has renewed its bid to take over Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—OSG’s largest shareholder—had previously offered to acquire OSG in June 2021 but suspended those discussions several months later, citing pandemic-related market uncertainties.OSG, which operates U.S.-flag tankers and articulated tug barges (ATB), on Monday confirmed its board of directors…

Pacific Northwest seaports Seattle and Tacoma have signed design agreements with the U.S. Army Corps of Engineers (USACE) for a pair of waterway navigation improvement projects.The Seattle Navigation Improvement Project, authorized by Congress in 2018, and the Tacoma Harbor Navigation Improvement Project, authorized in 2022, are part of a comprehensive modernization initiative for The Northwest Seaport Alliance (NWSA) gateway that began nearly a decade ago.Containerships navigating in the trans-Pacific trade are increasing in size…

2022 closed with significant developments to advance offshore wind (OSW) and the necessary, related work required at U.S. ports – on the east and west coasts and the Great Lakes. Some of these developments included:Funding – MARAD’s Port Improvement Development Project (PIDP) grants provided over $100 million for wind at four ports.Corporate leadership – Marine giants Foss and Crowley stepped up to lead development projects in California and Massachusetts.New industry focus – The American Association of Port Authorities (AAPA) started a program called POWERS – “Port Opportunities With Energy…

Foss Maritime has reached a deal to bareboat charter the tug Earl W Redd from Tug Construction, LLC for use in the U.S. offshore wind industry.The Earl W Redd will sail from Portland, Ore. to Massachusetts later this month to begin work on Foss 's offshore wind projects, including Vineyard Wind, the first large-scale offshore wind installation in the U.S. "The Earl W Redd is a great addition to the Foss fleet and will allow our skilled mariners to safely accomplish complex projects," said Joel Whitman, President of Business Development Foss Offshore Wind.

The Port of New Bedford in Massachusetts will add another base of operations and terminal logistics facility to support offshore wind projects off the northeastern coast seaboard.Foss is partnering with key local investors of New Bedford’s Cannon Street Holdings LLC (CSH) to develop the 30-acre site, currently home to the decommissioned Cannon Street Power Station in the city’s central waterfront. The former Sprague/Eversource site was selected for its proximity to offshore wind blocks located approximately 15 miles south of Martha’s Vineyard and Nantucket islands.

Nichols Brothers Boat Builders (NBBB) said it has delivered the final vessel in a series of four new tugs for Foss Maritime.The ASD-90 tractor tugs Jamie Ann, Sarah Avrick, Leisa Florence and Rachael Allen were completed and delivered between April 2020 and June 2021. Foss, a division of the Saltchuk company, will station two of the vessels in Los Angeles/Long Beach, while the other two vessels will be in the San Francisco Bay providing escort and assist services to large tankers and containerships calling on the California ports.The series' fourth vessel…

Seattle-headquartered Saltchuk Holdings informed the U.S. Securities and Exchange Commission (SEC) that it has proposed to buy the Overseas Shipholding Group (OSG) shares it doesn't already own for $3 each, lifting shares of the Tampa, Fla.-based marine transportation company on Friday.As of June 29, Saltchuk beneficially owned 15.2 million (17.5%) of OSG's outstanding shares, Saltchuk said in the SEC filing. The unsolicited bid reflects a premium of 43% to OSG's closing price of $2.10 on June 29.

Marine transportation services company Centerline Logistics said it has finalized its acquisition of Saltchuk Marine Services’ California ship refueling business, currently operated by Saltchuk subsidiary Foss Maritime.With the completion of this expansion, Centerline expands its existing California bunkering operations, adding Saltchuk’s six bunker barges as well as its established customer contracts in the California market. Centerline now operates bunker barges in the ports of Los Angeles and San Francisco, part of a national fleet of marine transportation vessels serving customers along the West Coast, Gulf Coast and East Coast.“The completion of this significant acquisition achieves Centerline’s goal of strengthening our industry leadership in safe petroleum transportation…

Seattle-based tug and towing company Foss Maritime said its chief operating officer Will Roberts has been promoted to president.“It was evident to our leadership team that Will’s ability to perform at the highest level along with his business acumen continues to align very well with our organization,” said Jason Childs CEO of Foss' parent company Saltchuk Marine. “As we look to the future, we’re confident that Will is the right person to lead Foss and carry on the long legacy of providing the highest level of service and support to our team and customers in the maritime sector.”Roberts said…

Saltchuk Marine announced it has acquired Centerline Logistics’ harbor ship assist operations in California and the Pacific Northwest.Eight ship assist tugs currently operated under the Millennium and Starlight brands will join the Saltchuk Marine fleet in early 2021. Operations will be consolidated under the Starlight brand, which will remain independently-operated – managing, dispatching, and crewing its own boats.The acquisition increases the ship assist capacity of Saltchuk…

Centerline Logistics acquired Saltchuk Marine Services’ California ship refueling business, currently operated by subsidiary Foss Maritime Company. According to a press release from Centerline, this "major acquisition" brings together the combined capabilities of two of the nation’s leaders in petroleum transportation, strengthening Centerline’s position as a provider of around the clock bunkering (ship refueling) services.Through this expansion, Centerline will "substantially…

At least 21 containers were lost form a barge traveling from Honolulu to Hilo, Hawaii on Monday, the U.S. Coast Guard said. Nine of the 40-foot containers lost from the Young Brothers barge Ho Omaka Hou have been located, while another 12 are still missing, according to the Coast Guard. The barge was being pulled by the tug Hoku Loa at the time of the incident. No injuries have been reported.The operator reported the containers fell overboard from the 340-foot barge at 4:30 a.m. Monday. The crew reportedly noticed the boxes were missing after mooring in Hilo.