St. Philip Towing Announces Sale Of Oceangoing Tug And Barge Fleet

William H. Young, president of St. Philip Towing and Transportation Co., headquartered in Tampa, Fla., has announced the sale of its oceangoing tug and barge fleet to TECO Transport & Trade Corporation.

"The sale of our oceangoing tug and barge fleet will enable us to aggressively pursue expansion and diversification," said Mr. Young.

"We have been seeking to move ahead and, with the capital generated by the sale of our oceangoing equipment, we can focus our efforts on development and implementation of growth plans in the harbor operations segment of our business." St. Philip recently introduced the tug Tampa, one of the most powerful shipdocking-assist tugs currently operating in a U.S. port. A second vessel similar to the tug Tampa is planned. The company also recently introduced the tug Thomas into the Mobile harbor operation. This craft is equipped with the latest technology and brings to the Mobile shipassist business the company's first tractor tug. Mr. Young stated that expansion plans could include other ports.

St. Philip Towing maintains a fleet of 24 vessels, following the sale of the oceangoing division, and operates a substantial harbor operations system in the Port of Tampa, Port Manatee, and St. Peterburg in Florida and Port of Mobile in Alabama.

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Maritime Reporter Magazine, page 11, Sep 1986

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