Savage buys Settoon towboats, liquid tank bargesFeb 10, 2017 04:36 PM
Savage expects to hire 250 Settoon employees as part of the 98-vessel deal
The following is the text of a news release from Savage Companies:
(ORANGE, Texas) — Savage Inland Marine LLC, a subsidiary of Savage Companies, has agreed to purchase marine assets from Settoon Towing LLC’s liquid bulk division that include 35 towboats and 63 liquid tank barges with a total capacity of nearly 2 million barrels. The purchase does not include Settoon Towing’s Gathering & Storage and Logistics & Vessel Management business lines.
Savage Inland Marine will use the marine assets to transport a variety of liquid products on the intracoastal and inland waterways, operating out of south Louisiana. As part of the agreement, Savage Inland Marine expects to hire approximately 250 current Settoon employees.
“These strategic assets will strengthen our ability to serve customers in the inland waterway. We look forward to welcoming the Settoon employees involved in this business segment, as Savage team members,” said Kirk Aubry, Savage president and chief executive officer. “During a brief transitional period, we will be working closely with Settoon under an operating agreement that will ensure a seamless transition for the customers we serve.”
With existing operations in Orange County, Texas, Savage Inland Marine currently provides monitored barge fleeting, operates inland pushboats and provides dock services on the Neches River. Savage Inland Marine is an American Waterways Operators member and AWO accredited Responsible Carrier, and is also a member of the Texas Waterway Operators Association, Gulf Intracoastal Canal Association, Mississippi Valley Trade & Transport Council and Oil Companies International Marine Forum.
“Marine transportation continues to be among the lowest-cost and safest methods for moving freight,” said Aubry. “With the country’s petrochemical renaissance and expansion of refineries and other facilities along the Intracoastal and inland waterways, we see a bright future for barge transportation in the Gulf Coast and beyond.”
In addition to its marine capabilities, Savage provides other supply chain and industrial services in the Gulf Coast region that include rail and refinery services; terminal operations; transloading; and truck transportation.Edit Module