Page 10: of Maritime Reporter Magazine (March 1992)
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Kirby Corp. Signs
Agreement To Buy
Sabine Towing
Houston barge company Kirby
Corp. recently announced that it signed an agreement to purchase the assets of Sabine Towing & Trans- portation Co. from Sequa Corp., New
York-based parent of Sabine, for $37.25 million.
Kirby plans to pay for the pur- chase with a combination of cash on hand and new financing within
Sabine Transportation Co., a Kirby unit that will own Sabine's assets.
Based in Port Arthur, Texas,
Sabine is engaged in coastal and inland marine transportation of pe- troleum products and harbor tug services.
For the nine months ended Sep- tember 30, it had revenue of $50.5 million and $66.8 million for all of 1990. Kirby's revenue was $140 million for the nine months ended
September 30 and $175.8 million for all of 1990.
Approximately 65 percent of
Sabine's revenues are derived from coastal tanker operations, 25 per- cent from inland tank barge opera- tions, and 10 percent from harbor tug services.
Sabine operates 38 tank barges, 24 harbor tugs and push boats and six coastal tankers.
The acquisition should produce a favorable impact on Kirby's earn- ings, the company said.
McDermott Awarded Exxon
Contract For Harmony
And Heritage Installation
McDermott Marine Construction has received a contract from Exxon
Company for the transportation and installation of topsides for the Har- mony and Heritage platforms off the coast of California. Each plat- form will be fitted with two support frames, 10 modules, and a flare boom.
The topsides will be transported from Corpus Christi, Texas, to off- shore Santa Barbara, Calif., on eight material barges.
McDermott's Derrick Barge 51 will install the facilities in Blocks
P0190 in 1,200-foot water depths and P0182 in 1,075-foot water depths. The entire project will re- quire 26 major lifts which range in size from 150 tons to 1,400 tons.
The facilities will be installed in an environmentally sensitive area off the coast of Santa Barbara. Spe- cial equipment and procedures will be utilized by the Exxon/McDermott project team to meet stringent envi- ronmental restrictions established by federal, state and local govern- ments.
McDermott Marine Construction is a major operating unit of
McDermott International, a leading worldwide energy services company.
United Ropeworks Offers
Free Color Brochure On
Trevira Polyester Rope
United Ropeworks (U.S.A.), Inc.,
Montgomeryville, Pa., is offering a free color four-page brochure on its
Phillystran Polyester ropes.
United Ropeworks (U.S.A.), Inc., offers ropes manufactured from large filament, high performance Trevira polyester fiber.
As described by the company's brochure, carefully selected special yarn finishes combined with top grade polyester fiber and built in a unique seven-strand wirelay con- struction result in a polyester rope with superior properties when com- pared to conventional polyester ropes.
According to the company, these ropes have proven to exceed the fa- tigue life of wire rope, while demon- strating to be more durable than nylon or aramid fiber products.
High tenacity Trevira polyester from Hoescht Celanese provides ex- cellent dimensional stability in the manufacture of ropes for marine, military and industrial applications.
Trevira polyester ropes are intended for applications where moderate elasticity may be useful, but supe- rior strength and durability are es- sential.
For a free copy of the brochure from United Ropeworks,
Circle 36 on Reader Service Card
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A C. or 24 volt. D.C. for vessels up to 246' in length.
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Two Rivers, Wisconsin, 54S41 U.S.A.
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Circle 251 on Reader Service Card
Circle 310 on Reader Service Card
Accufix
Navigation Receivers
Selected by the United States Navy
and the Royal Navy
