Cook Inlet Tug & Barge Acquiring Crowley Assets on North Slope
Cook Inlet Tug & Barge (CITB), an independently managed subsidiary of Foss Maritime Company, has entered into an asset purchase agreement with Crowley Vessel Sales Group to purchase all of Crowley’s Prudhoe Bay, Alaska, assets – including tugs, barges, heavy machinery and other vehicles and equipment.
“These assets are already positioned on the North Slope,” said John Parrott, president and CEO of Foss.“They are operationally ready to perform shallow draft tug and barge services and offer us the opportunity to expand our Alaska operations.”
The vessels and marine assets have spent their entire operating years on the North Slope.
“CITB plans to streamline its operation by focusing on marine equipment and partnering with established shore side service providers in Prudhoe Bay in order to provide leaner options to the oil and gas industry,” said Parrott.