Friday, January 18, 2019

Cook Inlet to Buy Crowley Assets

By Karen Robes Meeks

Cook Inlet Tug & Barge has inked an asset purchase agreement with Crowley Vessel Sales Group, allowing Cook Inlet to acquire all of Crowley’s Prudhoe Bay, Alaska assets, which include tugs, barges, heavy machinery and other vehicles and equipment, the company recently announced.

The move will allow Cook Inlet, a Foss Maritime Co. independent subsidiary, to augment its operations in Alaska.

“These assets are already positioned on the North Slope,” said Foss President and CEO John Parrott. “They are operationally ready to perform shallow draft tug and barge services and offer us the opportunity to expand our Alaska operations.”

The assets are made for the North Slope and have only operated in the area.

“The shallow draft design of the vessels makes them ideal to service the North Slope and Western Alaska Markets,” said CITB Sr. Business Development Director, Mike O’Shea. “In addition, the vessels are all in excellent condition.” To streamline its operation, Cook Inlet Tug & Barge intends to focus on marine equipment and working with established shoreside service providers in Prudhoe Bay.

“CITB is excited about the addition of this fleet,” Parrott said. “We look forward to working with companies on the North Slope and providing leaner options to the oil and gas industry.”