Page 10: of Maritime Reporter Magazine (December 15, 1980)

Southern Natural And IOT Sign

Interstate Purchase Agreement

An agreement for Southern Natural Re- sources, Inc. to purchase Interstate and

Ocean Transport Company and its affiliated companies, which own and operate the larg- est U.S. independent fleet of coastal tank barges and tugs, has been signed by South- ern Natural and IOT Corporation of Phil- adelphia, Pa., Interstate's parent company.

Henry C. Goodrich, chairman and chief executive officer of Southern Natural Re- sources, and Adrian S. Hooper, chairman, president and chief executive officer of IOT, jointly announced the signing recently.

Terms of the acquisition, as announced last

August when the preliminary understanding was reached, call for cash and short-term notes in excess of $100 million.

It is expected that the purchase will be closed by the end of 1980.

Incorporated in 1928, Interstate operates a fleet of 51 tank barges and 37 tugs be- tween refineries and ports along the Atlantic and Gulf Coasts and is one of the nation's largest transporters of petroleum products.

Its revenues for the fiscal year, ended June 30, 1980, exceeded $100 million. "Interstate will be a strong addition to

Southern Natural Resources and has signif- icant growth potential in energy transpor- tation," Mr. Goodrich said. "Interstate is regarded as one of the finest operations in its industry and fits in well with Southern

Natural's own background in energy trans- portation and marine activities."

Southern Natural Resources is a large energy and natural resources concern, with interests in interstate natural gas pipelines, offshore drilling, oil and gas production, and forest products.

Riverway Shipyard Completes

Rebuilding Of M/V Glen-Karen

The rebuilt 1,800-hp towboat M/V Glen-

Karen (formerly the M/V Liberty Bell), shown above, was recently delivered by Riv- erway Shipyard Co. The M/V Glen-Karen went into the Riverway Harbor Service, St.

Louis division of Riverway Co., as a Lock 26 turn boat.

The M/V Glen-Karen is the first 1,800-hp boat in the growing fleet of Riverway Har- bor Service. In August, Riverway acquired the M/V Jonathan-B, a 910-hp boat, and currently they have 13 harbor boats in their fleet.

The M/V Glen-Karen is 80 feet long by 33 feet wide by 10 feet deep in the midbody with a 3-foot shear forward and a 4-foot- high raised deck aft.

The bow rake was completely rebuilt from the headlog back to the collision bulkhead.

The new headlog and corners were built of 3/i-inch plate with %-inch rub-bars welded over the corners. The new towknees and headlog were outfitted with rubber towknees from B-J Marine Products.

The M/V Glen-Karen was previously built with a retractable pilothouse. A new second deck, pilothouse, internal stairs and remov- able stacks were added by Riverway Ship- yard.

The two General Motors turbocharged en- gines (rebuilt by Western Diesel) are 16V- 149 Detroit Diesels rated at 900 hp at 1,800 rpm. They are operated from both the pilot- house and engine room by WABCO air con- trols.

The Twin Disc reverse-reduction gears turn the shafts at 7:1 ratio and were also rebuilt by Western Diesel. The new stain- less-steel, 4-blade propellers are 76-inch di- ameter and were fitted to two new tailshafts.

Electric power is derived from two 4-71

Detroit Diesels (rebuilt by Western Diesel) operating at 1,800 rpm driving three-phase, 50-kw Delco generators.

A Tugalert 24-point monitoring and alarm system maintains a constant check on main and auxiliary engines and miscellaneous as- sociated equipment in the engine room.

Deck machinery includes two Beebe elec- tric 40-ton winches and one 1-ton boat hoist.

A St. Louis Ship FAST System LS-2 was installed for treatment of sewage.

Riverway Shipyard has printed a new brochure depicting its activities in new con- struction, repairs, conversions, and manu- facture of barge covers. For further infor- mation and free copies of the brochure,

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