Savage acquires Progressive Barge line assetsDec 28, 2018 11:02 AM
The deal includes seven towboats and 12 tank barges
The following is text of a news release from Savage Inland Marine:
(NEW ORLEANS) — Savage Inland Marine has acquired the assets of Progressive Barge Line, one of the largest bunkering and tank barge operators in the Port of New Orleans. The deal includes the acquisition of seven boats (1,600 to 2,400 horsepower) and 12 barges (11,000 to 30,000 barrel capacity), as well as warehouse and office facilities. It also includes two New Orleans area fleets on the Mississippi River.
Approximately 60 employees with Progressive Barge Line are joining Savage to ensure continued safe and reliable service for customers. With marine operations based on the Gulf Coast, Savage continues to expand its service offerings for marine transportation, bunkering, vessel management, dock operations, barge fleeting and logistics. The company’s marine fleet now includes 100 liquid tank barges, 42 dry cargo barges and 48 boats.
“We’re excited to grow our inland marine business through the acquisition of Progressive’s young fleet of well-maintained inland tank barges and towboats,” said Kirk Aubry, Savage president and CEO. “We’re also pleased to welcome new team members to Savage who will contribute to the success of our customers and the company.”
“Adding these strategic assets and team members to our expanding operations provides another opportunity for the diversification of our integrated marine services,” said Mike Ellis, Savage executive vice president and group leader, Marine Solutions. “Progressive’s team, led by Frances Boffone Kuehne, has an outstanding track record of providing safe and reliable bunkering services to their customers. We couldn’t be more proud to welcome them to our team and continue their operational excellence.”Edit Module