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Deal includes 54 tugs, 12 barges, stake in coastwise tankers.
Efforts over the last five years to sell the Moran Towing Corp. fleet of tugboats and barges have finally met success. Barring any last minute hitches, Mormac Marine Group of Stamford, Conn., will buy Moran after final government approval is obtained.
Mormac Marine is known in the U.S. maritime industry through its ownership of three ocean-going tankers and 12 dry bulk vessels used on the Great Lakes. The principals are Paul R. Tregurtha and James R. Barker, both of whom were also associated with the old Moore-McCormack Steamship Co.
Terms of the deal were not disclosed but one industry observer …