SEACOR Holdings completes acquisition of USSC
Florida-based holding company SEACOR Holdings Inc. has wrapped up its acquisition of U.S. Shipping Corp (USSC), a privately-owned provider of long-haul marine transportation for chemical and petroleum cargoes in the U.S. coastwise trade, operating under the Jones Act.
The transaction was completed on 13 August 2021.
“We welcome the USSC team into the growing SEACOR family and look forward to their continued success,” Eric Fabrikant, Chief Executive Officer of SEACOR, commented.
As explained, the strategic acquisition positions SEABULK, part of the SEACOR family of companies, as one of the largest Jones Act tanker operators with a fleet of 15 coastwise vessels ranging in size from 150,000 to 330,000 barrels of capacity.
“We believe that this transaction will provide our existing customers, in particular those moving chemical parcels, with access to an expanded … and highly capable fleet of vessels,” Albert Bergeron, former Chief Executive Officer of USSC, commented.
The terms of the transaction were not disclosed.
As a diversified holding company, SEACOR has interests in domestic and international transportation and logistics, crisis and emergency management, and clean fuel and power solutions.
SEABULK provides marine logistics, transportation, and infrastructure solutions, including port and terminal services, ocean transportation, and vessel management. The company operates a fleet of nine U.S.-flagged tankers, including one articulated tug barge servicing the U.S. coastwise trade of crude oil, petroleum, and chemical products.
USSC operates a fleet of six U.S.-flagged vessels including one parcel tanker, one product tanker, and four articulated tug barges. USSC transports chemicals and petroleum products and petroleum throughout the U.S.