Hodder Tugboat Co. Ltd., Richmond, British Columbia, has finalized its purchase of the legacy chip and hog fuel barge division of Seaspan Marine, North Vancouver, British Columbia, the companies announced on June 19. Terms of the deal were not disclosed.
The transaction, first announced in April, includes the transfer of workforce, existing services and customer contracts, operational assets such as coastal and river tugboats, barges, and a 35,000-sq.-ft. marine repair and maintenance facility. In addition, Hodder will assume the use of several tie-up locations leased from the Vancouver Fraser Port Authority.
Tugboats included in the deal are the Seaspan Venture, Seaspan Scout, Seaspan Cavalier, Seaspan Corsair, and Seaspan Protector, a Seaspan spokesperson told WorkBoat. Also included are the chemical barges Seymour River and Seaspan 543, rail barges Seaspan 930 and Seaspan 931, along with several other barges.
Hodder Tugboat is a marine towing operator specializing in the movement of logs, timber, and related forestry products along the B.C. coast. The acquisition expands Hodder's focus into chip and hog fuel transportation and will see the company launch Evernorth Marine Group, a new brand encompassing marine transportation, tug and barge services, industrial marine operations, and marine logistics throughout British Columbia and the Pacific Northwest.
The combined operation now includes approximately 98 barges, 16 tugboats, and five water taxis, Hodder said.
“This acquisition is a natural extension of Hodder’s long-standing role in supporting the forestry sector,” Tony Fadyeyev, president and CEO of Hodder Tugboat, said in a statement when the deal was announced. “We are committed to maintaining continuity of service for the existing and new customers while supporting all mariners and teams who have contributed to these operations over many years.”
For Seaspan Marine, the divestiture is a move to concentrate its resources on its core ship-assist and vessel-escort operations supporting ports, new terminals, and a growing number of vessels requiring specialized marine assistance along the Pacific coast, the company said.
“Hodder has a strong track record and shared union representation with our mariners — I am confident they are the right long-term owner of this division,” Jordan Pechie, president of Seaspan Marine Transportation, said in a statement. “As Seaspan moves forward, our focus remains on safe, reliable operations, and consistent service.”
