Seattle-based Foss Marine Holdings announced today that effective immediately it will merge all of its operations and resources under a single, highly recognizable name: Foss Maritime Company.
Foss Marine’s wholly owned subsidiaries – Foss Maritime, AMNAV, Young Brothers, Hawaiian Tug & Barge and Cook Inlet Tug & Barge – together operate the largest coastal tug and barge fleet in the U.S. Foss Marine Holdings will merge with Foss Maritime, whose lines of business include two shipyards, harbor services, ocean towing, marine engineering and others.
Foss Maritime will reorganize into four divisions:
- Marine Transportation Services will include the company’s ocean towing and global services including project cargo and logistics
- Technical & Engineering Services will include marine engineering and naval architecture as well as the company’s shipyard operations in Rainier, Ore., and Seattle.
- Harbor Services will include all harbor services such as ship assist and tanker escorts activities provided by the company.
- Liner Barge Services will include the services of Young Brothers, an intra-island freight and transportation company based in Honolulu.
Paul Stevens, president and CEO of the merged Foss Maritime, characterized the decision to unify Foss’ operations under a single name as an opportunity to consolidate assets and better focus resources. “The unification is the next step to enable Foss to focus on new and growing markets, including potential business opportunities in Alaska, where oil and gas activity is gaining strength,” he said in a statement.
Foss has announced it will build three new deep-sea Arctic-class tugs to compete for additional Alaska business. Work on the first tug is now underway at the company’s Rainier, Wash., shipyard.