Enterprise Products announced Tuesday that it entered into a
multi-year contract with SeaRiver to provide the ExxonMobil
subsidiary with transportation services.
Under the terms of the agreement, which took effect January 1,
2013, Enterprise is committing five tugs and 10 barges for the
transportation of refined products and other hydrocarbon
products along the US inland waterway system.
"We are very pleased to execute this long-term agreement
with SeaRiver, one of the largest consumers of marine
transportation services in the energy industry," said Gerald R.
"Jerry" Cardillo, president of Enterprise Marine Services. "We
believe our selection as one of SeaRiver's preferred vendors
reflects our quality fleet, operational reliability and experienced
"We believe the agreement is also an acknowledgement of
Enterprise Marine's 'best in the industry' financial strength
based on our affiliation with Enterprise Products Partners, one
of the largest publicly traded partnerships, with an enterprise
value of $62 billion and investment-grade debt ratings."
Enterprise Marine Services owns and operates approximately
200 vessels that transport petroleum and petrochemical products throughout
the nation's network of inland waterways, as well as the Gulf
Its fleet of double-hulled barges is among the youngest in the
industry and meets or exceeds federal requirements for safety,
according to the company.
Reflecting Enteprise's commitment to growing its marine
services business, Enterprise's 64th tug, the Dan L, named
after founder Dan Duncan, was placed into service in 2012. Four
more tugs and six barges are under construction and expected to be
completed in 2013.