The acquisition expands Kirby's bunker operations to New Orleans. Image Credit: File Image / Pixabay
Houston-based Kirby Corporation has signed a deal to buy the inland barge fleet of Savage Inland Marine, the company said Thursday.
Kirby will buy Savage's fleet, consisting of 90 inland tank barges and 46 inland towboats, for $278 million, it said.
As well as operating as a bunker supplier on the US Gulf Coast, Savage also uses its fleet to transport petrochemicals, refined products and crude oil along inland waterways in the region.
"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," David Grzebinski, CEO of Kirby Corporation, said in a statement.