Houston- based container barge driver Kirby Corporation has actually authorized an arrangement to obtain the inland container barge fleet of Savage Inland Marine for roughly $278 million.

Savage’s container barge fleet contains 90 inland container barges with roughly 2.5 million barrels of capability and also 46 inland towboats. The bargain consists of the presumption of leases.

Savage mostly relocates petrochemicals, fine-tuned items, and also petroleum on the Mississippi River, its tributaries, and also theGulf Intracoastal Waterway Savage likewise runs a considerable ship bunkering service along with barge short lived solutions along the Gulf Coast

Closing of the bargain is anticipated by the end of the very first quarter.

“The purchase of Savage’s inland tank barge and towboat fleet represents an excellent strategic addition to Kirby’s inland marine fleet with young, well-maintained vessels,” claimed David Grzebinski, Kirby’s President and alsoChief Executive Officer “In the last few years, Savage has built a diverse and well-respected inland marine transportation business with a strong presence in towing, bunkering, and fleeting along the Gulf Coast. These operations complement Kirby’s inland business very well and will enable us to better service our customer’s towing and fleeting needs. Further, Savage’s ship bunkering business in New Orleans is an ideal expansion of Kirby’s existing bunkering operations in Texas and Florida, and gives Kirby the ability to service bunker customers in this important Gulf Coast port.”

On Thursday, Kirby revealed 4th quarter web incomes of $2.8 million. For the 2019 complete year, Kirby reported web incomes of $142.3 million, below 2018’s web incomes of $78.5 million.