OSG goes to Gunderson for 204,000 barrel ATB barge newbuild

AUGUST 1, 2018 — Gunderson Marine LLC, a wholly-owned subsidiary of the Greenbrier Companies, Inc. (NYSE:GBX), reports that it has signed a binding contract with Overseas Shipholding Group, Inc. (NYSE:OSG) for the construction of one 204,000 barrel capacity oil and chemical tank barge for dual mode ITB (Integrated Tug Barge) service.

At 581 ft long, the barge will be among the largest ever built at Gunderson’s Portland, OR, shipyard.

Anticipated delivery of the barge will be in second quarter 2020≈. The agreement includes an option for a sister barge which would have a scheduled delivery date during fourth quarter 2020.

The vessel will be built to comply with MARPOL Annex VI Regulation 13 Tier III standards covering NOx within Emission Control Areas.

The Jones Act compliant barge will be constructed to pair with existing tugs within OSG’s current fleet for operation as an articulated tug barge or ATB unit.

“Our partnership with OSG for new ATB construction builds on Gunderson Marine’s strong reputation for providing safe and efficient ocean-going, Jones Act barges for the transportation of petrochemicals, crude oil, refined petroleum products and chemicals,” said William A. Furman, Greenbrier Chairman and CEO. “Operating from the largest side launch on the west coast, Gunderson Marine is the only shipyard in the western United States with successful experience in building ATBs of the type we will deliver to OSG.”

“Gunderson is a great place to work and our agreement with OSG fortifies a strong baseload of business over the next few years,” said Mark Eitzen, Senior Vice President and General Manager of Gunderson. “We have recently added more than 100 workers to our Portland waterfront operations to support our expanded manufacturing of both marine and rail products. We expect to add at least 150 new jobs over the next several months, all with competitive pay and benefits, as our total employment in Portland moves above 1,200 people.”

“The Gunderson Marine contract for construction of a new barge is an exciting development for OSG,” said Sam Norton, OSG’s President and CEO. “This transaction represents the first significant new capital investment into our Jones Act businesses in nearly a decade and is an affirmation of our commitment to operate ATBs, as well as tankers, within this market.

“Following on from the two tanker contracts announced earlier this month, this additional newbuild initiative underscores our leading presence in the U.S. Flag petroleum transportation sector. We look forward to the contribution that this effort will make to our long-term success.”