Ten-year plan to cost $186 million
Young Brothers Ltd., said yesterday it will significantly expand its fleet of barges and tugboats over the next 10 years to keep pace with growing demand for interisland cargo services.
The company plans to spend $186 million for eight new barges, six tugboats, containers, cargo handling equipment and information systems, said Young Brothers President Glenn Hong.
"We have great confidence in Hawai'i and are investing in the state's future," Hong said. "With increased cargo needs to and from the Neighbor Islands, we are planning to construct barges that will be able to carry 40 percent more cargo."
Young Brothers is working with the state on plans to improve facilities in Honolulu, Kawaihae and Kahului and development of a new Hilo pier, he added.
The first new barge is being designed and is expected to be in operation by the end of this year. The first new tug will be delivered by 2008. The first barge is a specialized roll-on/roll-off barge that will have the capacity to carry more than 500 cars and is enclosed to protect automobiles from the sea spray.
In 2005, Young Brothers had 926 barge sailings, an increase of 36 percent over the 683 sailings in 2000.