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Slide #9. International Shipholding Corporation — U.S. United Ocean Services, LLC
International Shipholding Corporation (ISH)
U.S. United Ocean Services, LLC
International Shipholding Corporation announced today the successful closing of the previously announced acquisition of U.S. United Ocean Services, LLC ("UOS"), a provider of marine transportation services for dry bulk and break-bulk commodities in the United States. The acquisition was completed for a total purchase price of $111 million cash and is expected to be immediately accretive to earnings and operating cash flow.
International Shipholding is a holding company. Co. operates a fleet of U.S. and International Flag vessels that provide international and domestic maritime transportation services to commercial and governmental customers. Co. has operations in markets including international service between U.S. Gulf Coast, U.S. East Coast, and U.S. West Coast ports and ports in Mexico, the Middle East and the Far East, and domestic transportation services along the U.S. Gulf Coast and East Coast. Co. has six operating segments: Jones Act; Pure Car Truck Carriers; Dry Bulk Carriers; Rail-Ferry; Specialty Contracts; and Other. As of Dec 31 2014, Co. owned or operated a total of 54 ocean-going vessels.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 64% of all stocks covered)
Based on Zacks ABR data;
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