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A Seabulk Towing tug underway

Photo courtesy Seabulk Towing

SEACOR Sells U.S. Harbor Towing Business

Mike Schuler
Total Views: 3033
September 25, 2023

SEACOR Holdings Inc. has announced the sale of Seabulk Towing Holdings’ U.S. harbor towing operations and tugs to E.N. Bisso & Son Inc. and Bay-Houston Towing Co.

The transactions include the sale of 20 harbor towing vessels operating across ports in Florida and along the Gulf Coast.

“E.N. Bisso and Bay-Houston are two industry leading harbor towing providers supported by many decades of safe and reliable operations,” said Eric Fabrikant, Chief Executive Officer of SEACOR Holdings. “They not only offer our people and assets long-term homes, but also ensure the continuation of high-quality service for our customers.”

The E.N. Bisso transaction includes 12 harbor towing vessels across ports in Florida and Alabama. Bay-Houston is acquiring eight vessels operating in Texas along the Sabine Neches Navigation District and in the Port of Lake Charles, Louisiana.

The transactions are expected to close in the first quarter of 2024, subject to customary closing conditions and regulatory approval, with operations commencing thereafter.

“Acquiring an industry leading platform in these markets is exciting for E.N. Bisso and enables us to enhance our services in Florida and expand into Alabama,” said Matt Holzhalb, President and Chief Executive Officer at E.N. Bisso. “Not only are we growing our fleet with the addition of new, differentiated assets like the innovative Advanced Rotortug, but we are thrilled to welcome such high caliber team members to the E.N. Bisso family.”

SEACOR Holdings Inc. is a portfolio company of American Industrial Partners. Seabulk will continue to own and operate a fleet of tugs and barges in support of its Caribbean terminal and bunkering operations, including the KSM joint venture with partner KOTUG International B.V.

Philip Kuebler, President and Chief Executive Officer at Bay-Houston, said the acquisition expands Bay-Houston’s ability to service its customers across more Texas and Louisiana ports. “We look forward to providing both existing and new customers with a smooth transition and serving as a valuable partner for years to come,” he said.

Earlier this month, SEACOR Holdings’ subsidiary Seabulk Tankers, Inc. reached an agreement with Crowley to integrate their U.S. liquid energy and chemical tank vessels, operations and related services into a new, independent U.S. Jones Act service provider. The JV will operate a fleet of 20 ocean-going, articulated tug-barges and 11 tankers, many under long-term charter, and provide crewing and technical management for an additional 21 third-party owned vessels. That transaction is also expected to close in the first quarter of 2024.

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