Company completes purchase of vessels from Allied Transportation Co.
Kirby Corp., headquartered in Houston, has announced that it has entered into an agreement to purchase the assets of Allied Transportation Co., a subsidiary of Allied Marine Industries, for $116 million (before post-closing adjustments and fees), including $10 million that will be paid contingent on developments with the sugar provisions in the U.S. Farm Bill.
Allied operates offshore barges and tugboats participating in the coastal transportation of petrochemicals and dry sugar products in the Northeast, Atlantic and Gulf Coast regions. Allied's fleet consists of 10 coastwise tank barges with a total liquid capacity of 680,000 barrels, three offshore dry-bulk barges with a total capacity of 48,000 deadweight tons and seven tugboats. Ninety percent of the tank barges are under term contracts with petrochemical customers. The barge fleet will be integrated with Kirby's existing coastal and offshore barge operations.
Kirby, which says it is the largest domestic tank barge operator operating in the United States, transports petrochemicals, black oil products, refined petroleum products and agricultural chemicals by tank barge.