Our marine transportation business consists of 59 tow boats and 130 tank barges that are used to transport refined products, crude oil, asphalt, condensate, heavy fuel oil, liquefied petroleum gas and other petroleum products along key inland and intracoastal U.S. waterways. The marine transportation industry uses tow boats as power sources and tank barges for freight capacity. We refer to the combination of the power source and freight capacity as a tow. Our inland tows generally consist of one tow boat paired with up to four tank barges, depending upon the horsepower of the tow boat, location, waterway conditions, customer requirements and prudent operational considerations.
Our marine transportation assets service refinery and storage terminal customers along the Mississippi River, the intracoastal waterway between Texas and Florida and the Tennessee-Tombigbee Waterway system. We own a shipyard and repair facility located in Houma, Louisiana and marine fleeting facilities located in Bourg, Louisiana and Channelview, Texas. The results of operations of our marine transportation business are generally dependent upon the level of fees charged to transport cargo. These transportation services are typically provided under term contracts (also referred to as affreightment contracts), which are agreements with specific customers to transport cargo from within designated operating areas at either set day rates or a set fee per cargo movement.
|Class of Equipment||Number in Class||Capacity/ |
(as indicated by sign)
|Inland marine transportation assets:|
|Barges||9||< 25,000 bbls|
|Barges||115||> 25,000 bbls|
|Tow boats||18||< 2,000 hp|
|Tow boats||40||≥ 2,000 hp|
Information on the assets, please refer to the most recent Form 10-K or Quarterly Reports on Form 10-Q and other SEC filings.