In 1987, the SONAT Marine Company was acquired by the the Maritrans Operating Partnership of Tampa, Florida. Maritrans was formed by group of managers from the SONAT Marine Company. Who offered to form a partnership to raise the funds necessary to purchase the company.
These eleven partners included some individuals who had worked for the Interstate Oil Transportation Company since the 1950's.
In March of 1989 the Exxon Valdez ran aground in Prince William Sound; in 1990 the Oil Pollution Act of 1990 was passed calling for the double hulling of all petroleum carrying vessels by 2010 as well as other stipulations that effected Maritrans including manning, preparedness and spill prevention. Maritrans filed suit to fight the stipulations set fourth by OPA '90.
Maritrans had begun to consolidate its business by the mid 1990's by first backing out of the black oil trade and carry only petroleum products and petrochemicals. The phosphate trade and local transport in Baltimore that was part of the Harbor Towing subsidiary did not fit into Maritrans's new business model. As Maritrans backed out local companies moved in that included Bouchard Transportation of New York and Vane Brothers of Baltimore.
In 1993, Maritrans was Incorporated, and formed as a Delaware corporation. And, the company became publicly traded and was listed under "TUG" on the New York Stock exchange.
In 1994, three of the original, founding, eleven partners retired.
In 1998, Maritrans began to thin their northeast fleet, eleven tugs where put up for sale. Eight of the tugs and where acquired by the K-Sea Transportation Partnership of New York, New York. Three tugs were acquired by the Reinauer Transportation Companies of New York, New York. And three were acquired by the Vane Brothers Company of Baltimore, Maryland. Other tugs where bought by companies all over the world. Maritrans retained the bulk of their 5,600 - 6,000 horsepower "married" units.
In 1999, a Federal Claims court dismissed a suit initiated by Maritrans in August of 1996, that attempted to block regulations set fourth by OPA '90. Maritrans subsequently contracted a shipyard to double hull the barge Ocean 244.
In 2006, the Maritrans Operating Partnership was acquired by the Overseas Shipholding Group (OSG) of New York, New York.
(Ralph W. Hooper, Rodney P. Carlisle, Captain Eric Takakjian)