Barge Capital Signs Exclusive Oil Tank Barge Agreement with L&R Midland, Inc.

Barge Capital announced its exclusive brokerage and placement partnership with L&R Midland to both market Barge Capital’s oil tank barge assets and assist with lease negotiations for its inland tank barge fleet.

“L&R’s presence within the inland industry made for a great strategic partnership for our company and for our future expansion plans. This alliance with one of the top brokerage firms furthers our objective of growing our inland tank barge leasing operation,” stated Austin Sperry, Barge Capital’s President.

L&R Midland, founded in 1960, is an integrated marine services company offering professional brokerage services for American Flag Ships, Inland barges and offshore vessels for chartering and for sale and purchase.

Barge Capital is an asset management company, specializing in the maritime transportation sector. “We understand the constraints existing companies face in this time of rising steel prices and high demand for tank barges in shipyards. We are excited to employ our capital in the US labor markets at shipyards and to provide inland tank barge operators a new source for equipment,” Sperry said.

Barge Capital intends to announce later this month its delivery schedule of vessels over the next three years. These vessels will be available for long term lease upon completion. “We have received great feedback from the operators we have approached with our solutions,” said Sperry.