US-based Savage Inland Marine has purchased Progressive Barge Line for an undisclosed sum.
Progressive Barge Line provides ship bunkering services and operates tank barges at the Port of New Orleans.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The deal covers seven boats ranging from 1,600hp to 2,400hp, and 12 barges with an 11,000-30,000 barrel capacity.
It also includes warehouse and office facilities, as well as two New Orleans area-based fleets on the Mississippi River.
The team of 60 employees from Progressive Barge Line will join Savage.
The deal has helped Savage to grow its marine fleet to 100 liquid tank barges, 42 dry cargo barges and 48 boats.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataSavage executive vice-president and Marine Solutions group leader Mike Ellis said: “Adding these strategic assets and team members to our expanding operations provides another opportunity for the diversification of our integrated marine services.
“Progressive’s team, led by Frances Boffone Kuehne, has an outstanding track record of providing safe and reliable bunkering services to their customers.”
Savage primarily provides supply chain services to various sectors, including rail, marine, truck transportation and logistics, as well as other industrial services for customers in the agricultural, energy, chemical and environmental sectors.
In April 2017, Savage acquired the Liquid Bulk division of Settoon Towing with an aim to expand its marine business.
The deal includes 35 towboats and 63 liquid tank barges with a combined capacity of around two million barrels.
