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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Alaska Business has been celebrating the corporations that have a significant impact on Alaska’s economy since 1993. At the time, the corporations weren’t ranked as the list didn’t have specific ranking criteria. Instead, the Alaska Business editorial team held long, detailed, and occasionally passionate discussions about which organizations around the state were providing jobs, owned or leased property, used local vendors, demonstrated a high level of community engagement, and in general enriched Alaska.