In a statement the New York-quoted MLP said the 49,000-dwt American Phoenix (built 2012) cost approximately $157m, which is in line with price tag tipped by market sources two days ago when the transaction first made TradeWinds headlines.
Genesis argued that the asset “complements and further integrates” its existing operations, which includes iboth nland and offshore tug and tank-barge businesses.
“This asset fits squarely within our focus of providing the logistical capability to get the right barrel to the right location,” added chief executive Grant Sims.
Genesis,
