SEACOR Holdings has signed a definitive settlement to promote its inland barge enterprise Inland River Transport Holdings, generally often called SCF, to a division of Ingram Marine Group, headquartered in Nashville, Tennessee.
With over twenty years as half SEACOR, SCF’s fleet consists of greater than 1,000 coated dry cargo hopper barges, eight 6,000-plus horsepower towboats, and a community of terminal and fleeting infrastructure alongside the Mississippi River.
“Not solely does SCF function a strong community of terminals and a contemporary, younger fleet of complementary marine belongings, however it’s run by an industry-leading staff of transportation and logistics professionals. We’re excited to diversify Ingram’s service choices and welcome SCF’s staff, prospects, and gear to the Ingram household,” stated John Roberts, President and CEO of Ingram.
The U.S. inland river system is an important part of the nation’s financial system, offering a cheap and sustainable mode of freight transportation for agricultural items, industrial merchandise, and bulk liquids. Overlaying 12,000 miles of navigable waterways, it serves as a gateway to the worldwide market.
Ingram already operates throughout greater than 4,500 miles of the U.S. inland waterways system, transporting important agriculture and industrial commodities utilizing a fleet of 4,000 coated and open high dry cargo and liquid tank barges, in addition to 150 towboats.
“Entry to Ingram’s towing fleet and different efficiencies will improve service to SCF’s prospects at a time of fierce competitors for international agricultural exports,” stated Tim Energy, President and Chief Govt Officer of SCF. “Moreover, the bigger platform shall be higher positioned to develop progressive applied sciences and sustainable options in response to the {industry}’s evolving wants.”
The transaction continues to be topic to regulatory approval and customary closing circumstances.
SEACOR was suggested by RBC Capital Markets LLC as a monetary advisor, and Milbank LLP and Baker Botts LLP as authorized advisors. Ingram was suggested by Bass, Berry & Sims PLC as a authorized advisor.
