Posted on August 17, 2021
SEACOR Holdings Inc. announced the completion of its acquisition of U.S. Shipping Corp (“USSC”), a privately owned, leading provider of long-haul marine transportation for chemical and petroleum cargoes in the U.S. coastwise trade, operating under the Jones Act. The transaction closed on August 13, 2021, according to the company’s release.
This strategic acquisition positions SEABULK, part of the SEACOR family of companies, as one of the largest Jones Act tanker operators with a fleet of 15 coastwise vessels ranging in size from 150,000 to 330,000 barrels of capacity.
Milbank LLP acted as legal advisor to SEACOR. Jefferies LLC acted as financial advisor to USSC and Akin Gump Strauss Hauer & Feld LLP and Norton Rose Fulbright US LLP acted as legal advisors to USSC.
About SEACOR Holdings Inc.
SEACOR is a diversified holding company with interests in domestic and international transportation and logistics, crisis and emergency management, and clean fuel and power solutions.
About SEABULK
SEABULK provides safe, efficient, and reliable marine logistics, transportation, and infrastructure solutions, including port and terminal services, ocean transportation, and vessel management. SEABULK operates a fleet of nine U.S.-Flag tankers, including one articulated tug barge servicing the U.S. coastwise trade of crude oil, petroleum, and chemical products.
About U.S. Shipping Corp
USSC operates a fleet of six U.S.-flagged vessels including one highly sophisticated parcel tanker, one product tanker, and four state-of-the-art articulated tug barges. USSC transports chemicals and petroleum products and petroleum throughout the U.S.
