Jones Act shipowner Kirby Corp is to acquire Cenac Marine Services’ fleet of inland tank barges, towboats and tugs for approximately $244m.
The Cenac fleet consists of 63 inland tank barges, each with 30,000 bbl carrying capacity; 34 inland towboats and two offshore tugboats.
Ben Nolan of Stifel said the price was in the Kirby sweet spot and well below replacement cost.
