Kirby Corp. to buy Seacor’s barge fleet

The Kirby Corp. is purchasing inland tank barge fleet from subsidiaries of Seacor Holdings Inc. for approximately $88 million.

Kirby Corp., located at 55 Waugh Drive, Suite 1000, announced the purchase agreement March 8.

The asset purchase will consist of 27 inland 30,000-barrel tank barges and 13 inland towboats, plus one 30,000-barrel tank barge and one towboat currently under construction, according to a company news release. Kirby also will transfer to Seacor the ownership of one Florida-based ship docking tugboat, according to the purchase agreement.

Seacor, through its subsidiary SCF Waxler Marine LLC, transports refined petroleum products, petrochemicals and black oil on the Mississip- pi River System and Gulf Intracoastal Waterway.

According to Kirby Corp., the closing of the asset purchase is expected to midyear and is subject to certain customary conditions, including regulatory approvals.

The acquisition is expected to be paid for using funds available under Kirby’s revolving credit facility.

Kirby is the nation’s largest domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three coasts and in Alaska and Hawaii.

The company transports petrochemicals, black oil, refined petroleum products and agricultural chemicals by tank barge.

Through the company’s diesel engine services segment, Kirby provides after-market service for medium-speed and highspeed diesel engines and reduction gears used in marine and power generation applications. The company also distributes and services high-speed diesel engines, transmissions, pumps and manufactures and remanufactures oilfield service equipment, including pressure pumping units, for the land-based pressure pumping and oilfield service markets.