Southern Towing continues the ongoing consolidation trend in the towboat and barge sector as it acquires family owned Devall Towing, and the new administration opens its coffers with a US$10Bn harbour investment package
Through this corporate deal Southern Towing, an affiliate of CC Industries, has more than doubled its fleet of towboats and tank barges.
Devall specialises in transporting chemicals along the Gulf Intracoastal Waterway and Lower Mississippi River with a fleet of 36 towboats and 125 liquid tank barges. These will be added to Tennessee-headquartered Southern Towing’s existing fleet of 27 towboats and 72 barges, which transport agriculture and industrial cargo including liquid fertiliser along inland waterways. Combined, they will have a fleet of 63 towboats and 197 barges.
This acquisition comes as US President Joe Biden’s administration released US$10Bn from the Harbor Maintenance Tax Trust Fund for dredging US harbours and waterways, practical evidence of the US Department of Homeland Security recognising the Maritime Transportation System as one of the critical subsectors within the nation’s transportation system. These funds will improve access to US harbours and reduce disruption to maritime trade, providing a boost to the US’ dredging sector.
Devall Towing’s fleet was recently modernised with new towboats from Southwest Shipyard. Four towboats were delivered in 2019 with Tier 3 Cummins QSK-19 engines, Twin Disc MG5222 gears and Sound 76 propellers. They were designed by Advanced Fabricating and built at the Brady Island extension shipyard in Houston.
Engine technology, optimisation and safety will be discussed during Riviera’s Marine Propulsion Webinar Week, starting 22 February - use this link for more details and to register for these webinars