Transportation Llc News

Crosby Enterprises, LLC (the “Company”) announced that the Company filed chapter 11 cases for several of its subsidiary/affiliate units, Crosby Tugs, L.L.C., Crosby Dredging, L.L.C. and Crosby Marine Transportation, L.L.C., in the U.S. Bankruptcy Court for the Eastern District of Louisiana on March 23, 2026. The focus of the filings is to restructure the Company’s secured debt to improve the Company’s financial position, all while maintaining the Company’s position as a regional…

Shipbuilder Metal Shark has delivered two new pilot boats to New Orleans-based operator Belle Chasse Marine Transportation, LLC (BCMT).Designed in-house by Metal Shark and built at the company’s Jeanerette, La. production facility, Jet 1 and Jet 2 are 45-foot welded aluminum Defiant-class monohull pilothouse vessels featuring an extensively proven hull design. The vessels feature a unique deck arrangement designed for pilots and customized to meet BCMT’s specific requirements.Both vessels were recently delivered and are now operating on the Mississippi River…

Vessel operators working in the towage and CTV markets on the Atlantic Coast are taking advantage of new, more cost-effective technologies as they pioneer a digital approach to small vessel and fleet monitoring. This investment will support these businesses in driving operational improvements and maximizing quality of service.That is according to Reygar Ltd, the firm behind the innovative advanced remote monitoring platform, BareFLEET, which is seeing growing demand from US operators.Despite an increase in the digitization of operating practices throughout the maritime sector…

Genesis Energy has completed the previously announced acquisition of all the assets of the downstream transportation business of Hornbeck Offshore Transportation, LLC. The purchase price was approximately $230 million plus customary adjustments. The acquired 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. Hornbeck and Genesis say they have also entered into transition service agreements to facilitate a smooth transition of operations and uninterrupted services for both employees and customers.

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.

The members of the American Waterways Operators (AWO), the national trade association for the American tugboat, towboat and barge industry, elected Timothy J. Casey as Chairman and George Foster as Vice Chairman on Friday, April 3 during the AWO Spring Convention in Washington. Casey is President & CEO of K-Sea Transportation Corp., headquartered in East Brunswick, New Jersey, and served as vice chairman for the past year. Foster is President of JB Marine Service, Inc., headquartered in St. Louis. In his remarks to the AWO Board of Directors following his election as chairman, Mr.

K-Sea Transportation Partners L.P. reported earnings for its predecessor, K-Sea Transportation LLC and subsidiaries, for the three and six month periods ended December 31, 2003. On January 14, 2004, the business of K-Sea Transportation LLC and its subsidiaries was contributed to K-Sea Transportation Partners L.P. in connection with the initial public offering of common units representing limited partnership interests in K-Sea Transportation Partners L.P. For the three months ended December 31, 2003, net income was $0.2 million, compared to $0.4 million for the three months ended December 31, 2002. The decrease of $0.2 million resulted from a decrease of $0.4 million in operating income, partially offset by reduced interest expense.

HORNBECK-LEEVAC Marine Services, Inc. announced that it has changed its name to Hornbeck Offshore Services, Inc. The new corporate name was approved at the company's recent annual meeting of stockholders. The name of the tug and tank barge owning subsidiary, LEEVAC Marine, LLC, has also been changed to Hornbeck Offshore Transportation, LLC. The name changes are effective immediately. Todd M. Hornbeck, President and CEO remarked, "These name changes will allow us to operate under a common identity across each of our operating divisions and facilitate the markets' identification with each of our services under one name and one logo.

Shipyards in most major shipbuilding centers around the country are busy with double-hulled barge projects. The required phase out by OPA-90 regulations of single hulled barges over 25 years old by 2005 is the reason why there is considerable activity in this sector. Many petroleum transportation companies are building new barges and some barges with useful life remaining are being double hulled…so there is a good mix of new construction and renovation. This elevated level of building activity has led one strictly repair yard to take on new barge construction activity. For example the Manitowoc Marine Group's repair yard in Toledo, Ohio has its first new build in 15 years. They have under construction a 110,000 barrel barge for Hornbeck Offshore Transportation LLC, Mandeville, La.

It's been a rough year for tugmeets. Charleston, Boston, and Portland, whose Musters we've covered in the past, were respectively, skipped, canceled, and postponed. The World Ship Society tells us they'll be back next year with the Boston event, and the Portland muster, pre-empted by Hurricane Charlie, is taking place as this is written. We wish we could have gone north. While there are all sorts of good reasons to attend a tugmatch, we, being media people, think mostly about the good press they bring the business. The way things are shaping-up in such realms as national security, the price of fuel, environmental cleanliness and such, waterborne transport displays more and more advantage for the good of all.

Tidewater Inc. announced second quarter net earnings for the period ended September 30, 2006, of $104.2 million, or $1.86 per common share, on revenues of $274.0 million. For the same quarter last year, net earnings were $82.2 million, or $1.42 per common share, on revenues of $204.4 million. The immediately preceding quarter ended June 30, 2006, had net earnings of $71.4 million, or $1.23 per common share, on revenues of $269.8 million. Included in the current quarter's net earnings is a gain of $28.2 million ($17.2 million after tax, or $0.31 per common share) related to the August 2006 sale of 11 of the company's offshore tug vessels to Crosby Marine Transportation, LLC for a total cash price of $34.8 million.

Tidewater Inc. announced today the closing on the sale of ten offshore tugs for a total cash price of $31.5 million. The culmination of this transaction results in an approximate $24 million pre-tax financial gain, or $.27 per common share after tax. The company previously announced that it had entered into a definitive agreement with Crosby Marine Transportation, LLC to sell a total of 14 offshore tugs. The balance of the four tugs covered by the definitive agreement, with a total sales price of $13.3 million, should close over the next four months as current charter contracts to which the four tugs are subject to expire.

Tidewater Inc. entered into a definitive agreement with Crosby Marine Transportation, LLC to sell 14 of its offshore tugs, 12 of which currently constitute Tidewater's total domestic fleet of offshore tugs. In addition, two tugs scheduled to return from international assignments in the Middle East are included in the transaction. The sale of ten of the tugs is expected to close by the end of August, with the sale on the other four vessels scheduled to close over the next four months as current charter contracts to which the four tugs are subject expire. The combined cash sales proceeds of $44.8 million will result in an estimated pre-tax financial gain of approximately $34 million…

The U.S. Maritime Administration (MARAD) announced that it has approved requests for transfer and sale of five U.S. vessels, including a tanker and a cable ship. · K-Sea Transportation LLC, Staten Island, NY, has received approval to sell the 6,430-gross-ton tank barge, KTC-115 to McKeil Work Boats Ltd., a Canadian corporation, and transfer said Vessel to Canadian registry and flag. The vessel was built in 1968 in Avondale, LA. · Nowitna Fisheries, LLC, Seattle, WA, has received approval to sell the 2,457-gross-ton freight, BARGE-I to Grupo Pesquero De California, S.A. de C.V., a Mexican corporation, and transfer said Vessel to Mexican registry and flag. The vessel was built in 1969 in Portland, OR. 1,929-gross-ton barge, MBC-1 to Noroeste, S.A.

The U.S. Maritime Administration (MarAd) approved requests for transfer and sale of five U.S. vessels, including a tanker and a cable ship. • K-Sea Transportation LLC, Staten Island, NY, has received approval to sell the 6,430-gt tank barge, KTC-115 to McKeil Work Boats Ltd., a Canadian corporation, and transfer said Vessel to Canadian registry and flag. The vessel was built in 1968 in Avondale, La. • Nowitna Fisheries, LLC, Seattle, Wash., has received approval to sell the 2,457-gt freight, BARGE-I to Grupo Pesquero De California, S.A. de C.V., a Mexican corporation, and transfer said Vessel to Mexican registry and flag. The vessel was built in 1969 in Portland, Ore. • Marine Barge Company, LLC, Weehawken, NJ, has received approval to sell the 1,929-gt barge, MBC-1 to Noroeste, S.A.

C.R. Harbour Towing and Transportation LLC recently completed the repowering and refurbishement of 95-ft. tug Brandon C. Roehrig. The tug's original Cat D-398s were removed, and a pair of 3,300 hp Cat 3512Bs were installed, coupled to a pair of Haley DRV-1711 6:1 hydraulic reduction gears. Also fitted were a set of Bird Johnson 96 in. five-bladed New Generation work wheels. An articulating upper house pilothouse, with a 44 ft. height of eye, was added. The house folds down to give the tug an air draft of 34 in., thus allowing the tug to clear most of the lift bridges in the port of New York. A refurbished Markey tow winch, carrying 1,850 ft. of 1.75 in. wire, replaced a smaller Smatco winch. Other work included the remodeling of the living quarters, galley and pilothouse.

K-Sea Transportation Partners L.P. reported record results of operations for its fiscal 2006 first quarter ended September 30, 2005. The Company also announced that its distribution to unitholders in respect of the first quarter will increase by $0.01 to $0.57 per unit, or $2.28 per unit annualized. The distribution will be payable on November 14, 2005 to unitholders of record on November 8, 2005. For the three months ended September 30, 2005, the Company reported operating income of $6.2 million, an increase of $1.7 million, or 37%, compared to $4.5 million of operating income for the three months ended September 30, 2004. The increase resulted from the expansion of the Company's fleet barrel-carrying capacity over the past year and continued strong vessel utilization…