KOTUG and Seabulk Awarded Contract at Bahamas FT

FT. LAUDERDALE, FL--(Marketwired - Apr 4, 2017) - KOTUG International BV and Seabulk Towing, Inc. have been awarded a contract with Borco Towing Company Limited (a subsidiary of Buckeye Partners, L.P.) to carry out all towage operations at their Buckeye Bahamas Hub in the Bahamas. The contract will be performed through a newly formed joint venture between KOTUG and Seabulk: Kotug Seabulk Maritime LLC.

The Buckeye Bahamas Hub currently has over 26 million barrels of storage capacity and eight berths, including two VLCC-capable berths, making it the largest petroleum products terminal in the Western Hemisphere.

Kotug Seabulk Maritime LLC is deploying four new tugboats and a bunker barge to execute all Terminal Towage Operations, including Bunker Barge Assistance. The tug fleet, having commenced services as per 1 ^st April, consists of two Rotortugs®, the RT Blackbeard and RT Raptor and two Stern Drives , SD Calypso and SD Junkanoo .

The new joint venture KSM aims to leverage the impressive reputation, experience, technology, and practical "know how" of Kotug International and Seabulk Towing.

ABOUT KOTUG International BV KOTUG, family owned and headquartered in the Netherlands, is a leading towage operator offering its innovative services to ports and terminals on a global scale. With a young and powerful fleet of more than 100+ tugs, its dedicated staff and well trained crew KOTUG operates in a variety of markets including towage services in ports and at sea as well as in the salvage, offshore and dredging industry. KOTUG is committed to the highest industry standards of health, safety, environment and quality. KOTUG has adopted an active green policy. Currently KOTUG has three (3) fully classed hybrid Rotortug E-Kotug®, in her fleet. More information about KOTUG: www.kotug.com .

ABOUT Seabulk Towing, Inc. Seabulk Towing, Inc., founded nearly 60 years ago, is recognized by the towing industry as an established leader in harbor ship assist operations and offshore towing services. Established on the basic principles of safety and service excellence, Seabulk Towing, Inc. assists petroleum and chemical product tankers, barges, container ships and other cargo vessels in docking and undocking and provides services along the Gulf Coast and southeastern seaboard port system from Cape Canaveral, Florida, to Port Arthur, Texas. Seabulk Towing, Inc. is a wholly-owned subsidiary of SEACOR Holdings Inc  ( NYSE : CKH ). More information about Seabulk: www.seabulktowing.com .