CLEANCOR Announces Broad Push to Supply LNG in the Midwest
FORT LAUDERDALE, Fla., Sept. 20, 2019 (GLOBE NEWSWIRE) -- CLEANCOR Energy Solutions (“CLEANCOR”), a subsidiary of SEACOR Holdings Inc. (NYSE: CKH) (“SEACOR”), announced today a joint initiative to increase the use and supply of liquefied (“LNG”) and compressed (“CNG”) natural gas to a range of customers in the U.S. leveraging the footprint of its sister company, SCF Marine Inc. (“SCF”) throughout the Mississippi River system.
SCF’s in-depth knowledge of the U.S. Inland Waterways and its strategically located ports, terminals, barge fleets, and existing customer relationships provide CLEANCOR with a robust platform from which to deploy modern and mobile LNG and CNG equipment. In addition to bunkering towboats, LNG can serve as a viable and scalable alternative fueling solution for a variety of inland manufacturing, mining, asphalt, agricultural and transportation operations.
CLEANCOR currently supplies millions of gallons of LNG annually to locations around the U.S. via its fleet of cryogenic and high-pressure storage, transportation and gas conditioning equipment. “Our LNG and CNG supplies are highly adaptive to customer demands and can service both low and high volume projects on a temporary or permanent basis. Our team is equipped with the expertise and resources to work with customers who want to transition from diesel, fuel oil or propane energy to cleaner, less expensive alternatives,” said Jeff Woods, President of CLEANCOR.
As part of this joint effort, SCF recently purchased two 2520 HP triple screw Z-Drive towboats to support its U.S. Inland River container-on-barge service and is exploring the conversion of these vessels to dual-fuel LNG and diesel. This conversion, if completed, will have the benefit of lowering emissions and the overall cost of operations,” said, SCF President, Tim Power.
Mr. Power further stated that “towboats of these design specifications and characteristics are an exciting addition to the SCF fleet and support the safe and efficient movement of our customers’ cargo. We look forward to working with the CLEANCOR team as we strive to make this project a reality.”
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SCF provides integrated logistics and barge transportation services on the U.S. Inland Waterways and in South America.
CLEANCOR Energy Solutions designs, develops, and maintains alternative energy and power solutions for end-customers looking to adopt energy supplies that have a favorable environmental footprint and the potential to economically and reliably displace legacy petroleum-based fuels. CLEANCOR provides LNG and CNG fuel supply and logistics to commercial, industrial, agricultural, and transportation clients, and provides natural gas during pipeline supply interruptions due to planned maintenance or other curtailments.
About SEACOR Holdings
SEACOR Holdings Inc. is a diversified holding company with interests in domestic and international transportation and logistics, crisis and emergency management, and clean fuel and power solutions. SEACOR is publicly traded on the New York Stock Exchange under the symbol CKH.
Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management’s expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, including, but not limited to, risks relating to future actions, new projects, strategies, future performance and the outcome of contingencies such as future financial results, as well as the risks discussed in Item 1A. (Risk Factors) of the Company’s Annual report on Form 10-K and other reports filed by the Company with the Securities and Exchange Commission (“SEC”). Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.
For additional information, contact SEACOR at (954) 523-2200 or visit SEACOR’s website at www.seacorholdings.com.Source: SEACOR Holdings Inc.
Released September 20, 2019