CITB Acquires Crowley’s North Slope Assets
The second of three Foss Arctic Class tugs, Denise Foss, at work in Alaska.
ANCHORAGE—Cook Inlet Tug & Barge, an independent subsidiary of Foss Maritime Company, has entered into an asset purchase agreement with Crowley Vessel Sales Group and completed the purchase of all of Crowley’s Prudhoe Bay assets.
“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. “The shallow draft design of the vessels makes them ideal to service the North Slope and Western Alaska Markets,” said CITB Sr. Business Development Director, Mike O’Shea. “In addition, the vessels are all in excellent condition.”
Cook Inlet Tug & Barge plans to streamline its operation by focusing on marine equipment and partnering with established shore side service providers in Prudhoe Bay.
“CITB is excited about the addition of this fleet. We look forward to working with companies on the North Slope, and providing leaner options to the oil and gas industry,” said Parrott.
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In This Issue
Mining in 2019: The Year in Review
Following a year when metal prices were both up and down—sometimes dramatically; when international trade squabbles spooked investors to both enter and exit the metals markets; and when mining companies started the year cautiously bullish but ended it cautious bearish, those involved in Alaska mineral exploration, development, and production are once again asking themselves: “Where did we succeed, where did we fail, and where do we go from here?”