Kirby buys Seaboats’ coastwise tank barge fleet for $42.3m

HOUSTON – Kirby Corp., the nation’s largest domestic tank barge operator, announced this week the purchase of the coastwise tank barge fleet of Seaboats Inc. and affiliated companies, consisting of three 80,000-bbl. coastwise tank barge and tug units, for $42.3 million. The three coastwise tank barge and tug units (which you can view here) currently operate along the East Coast and have an average age of five years, according to Kirby. Financing of the purchase was through Kirby’s $250 million revolving credit facility.

Joe Pyne, Kirby’s chairman and CEO, commented in a statement, “The purchase of Seaboats’ coastwise fleet consisting of three 80,000 barrel tank barge units furthers our objective of growing our offshore tank barge fleet. The three tank barges are sister barges, built to the same design as our four 80,000 barrel tank barges and will expand our fleet capacity, service capabilities to our customers, and provide additional flexibility.” 

 

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