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August 16, 2010

Ingram buys 92 "nearly new" barges

Ingram Barge Company has acquired 92 barges from an affiliate of Ospraie Special Opportunities Fund. All of the acquired barges were built between 2004 and 2008. They include 17 tank barges with 10,000 barrel capacity, 62 jumbo covered hopper barges with fiber lift covers, and 13 jumbo open hopper barges

"This acquisition represents another significant investment in the marine industry on the part of Ingram Barge Company," said Craig Philip, Ingram Barge's CEO. "These 92 nearly-new barges will enhance our ability to provide dry-cargo and tank barge transportation services to our growing customer base."

Ingram operates a fleet of more than 100 line haul towboats and over 4,000 barges.

"This strategic acquisition will further enhance Ingram Barge Company's position as the nation's largest inland barge transportation company," Mr. Philip added.

Ingram's plans for the tank barges include deployment for use in a variety of liquid trades and plans for the hopper barges include deployment in the grain, utility, and various other dry cargo trades.


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