(Tampa Electric Co., TECO Transport and Trade Corp., Gulfcoast Transit, Martha-Mac Corp., Electro-Coal Transfer Co., Mid-South Towing Co., TECO BARGE LINE INC., Greenstreet Equity Partners L.P.,)
The TECO Ocean Shipping company was a division of the Tampa Electric Company of Tampa, Florida. Which was founded in 1899 to manage electric trolley systems in the city of Tampa.
In 1959, TECO Transport’s oceangoing operation was founded to transport coal from Louisiana based locations to Tampa, Florida for the Tampa Electric Company. TECO Ocean Shipping became one of the largest United Stated flagged carriers.
In 1986, the TECO Transport and Trade Corporation acquired the offshore tug and barge fleet of the St. Phillip Coastal Towing Company of Tampa, Florida.
In 2002, TECO Transport renamed their three subsidiaries. The Mid-South Towing Company became the TECO Barge Line. Based in Metropolis, Illinois, this compare was a full-service river barge line transporting dry bulk and break products on the inland waterway system.
Gulfcoast Transit became the TECO Ocean Shipping Company. Based in Tampa, Florida, this business handled all of TECO Transport’s global blue water transportation activities. It was considered the largest dry bulk ocean transport company operating under the United States Flag.
The Electro-Coal Transfer Company became the TECO Bulk Terminal. Based in Davant, Louisiana, the terminal and storage transfer operation handled bulk commodities at the mouth of the Mississippi River, including coal, petroleum coke, phosphate and iron ore.
In 2007, TECO Energy divested itself of its marine transportation operations and focus on its power generation business. This divestment included twelve oceangoing tug-barge units, and three ships ranging in size from 19,200 deadweight tons to 45,000 deadweight tons. As the parent company TECO Energy, the parent company of Tampa Electric Company and People’s Gas System, shifted its focus back to their utility businesses. And, the TECO Transport Corporation was acquired Greenstreet Equity Partners L.P., a Miami-based private equity firm founded by Steven Green, former U.S. Ambassador to Singapore, and Jeffrey Safchik.