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THE CREDIT CRUNCH AND SHIPBUILDING
World shipyards have a record order backlog. What effect will the global credit crunch have?

No effect
A slow down in new orders
Cancellation of some existing orders
Cancellation of many exisiting orders

Marine Log

LE PONANT FILE PHOTO

April 5, 2008

Ingram Barge acquires assets of Capital Fleet

Nashville, Tenn. headquartered Ingram Barge Company says that it has acquired the assets of Capital Fleet, Inc. in Baton Rouge, Louisiana.

Included in the acquisition are two harbor boats, the M/V Ace G (1200 horsepower) and the M/V Port Allen (1000 horsepower); a new office barge; a barge repair flat; and fleeting areas and equipment.

The Baton Rouge operation will be renamed "Ingram Capital Fleet." Nearly all of the former Capital Fleet associates have been hired by Ingram for its new Ingram Capital Fleet operation.

"Baton Rouge is a critical location for our business," said Craig Philip, President and CEO of Ingram Barge Company. "The increase in congestion in the Gulf has made barge movements south of Baton Rouge more challenging. Our acquisition of Capital Fleet's assets and the addition of Bill Grantham and his talented team of associates will greatly improve our efficiency in that area and ensure the highest quality of service for Ingram and our customers."

"Capital has worked with Ingram for many years and is pleased to now become part of the Ingram Marine Group family," said Bill Grantham, owner and President of Capital Fleet, Inc. "Our associates appreciate Ingram's long term commitment to the Baton Rouge area and look forward to continuing to provide first rate fleeting services."

Ingram Marine Group includes three primary operating units: Ingram Barge Company, Ingram Materials Company, and Custom Fuel Services. Ingram Barge Company is the leading carrier on America's inland waterways. Ingram operates a fleet of more than 100 line haul towboats and nearly 4,000 barges that transport coal, aggregates, grain, fertilizer, ores, alloys, steel products and chemicals. Ingram Materials operates a sand and gravel dredging and distribution enterprise serving Tennessee markets. Custom Fuel Services operates 11 floating fueling stations on the Mississippi and Ohio River Systems and provides marine fuels, lubricants, and other miscellaneous services to towboats, barges, stevedoring rigs, and ships. In addition, Ingram owns a ship anchorage in Louisiana and bulk commodities terminals in Florida and West Virginia.

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