Originally founded in the 1920's by Fred Kosnac. In the 1950's, the operation of the company was passed the Fred Kosnac's son, Fred Kosnac Jr. The company was eventually passed to Fred Kosnac III, and his sister June Kosnac.
Although, the company was established utilizing secondhand, or third hand single screw tugs. Single screw tugs became less in demand by customers. As well as the stipulations set fourth by the Oil Pollution Act of 1990. Single screw tugs were prohibited from moving oil carrying barges. As a result, the Kosnacs updated their equipment.
In 2010, the company ceased operations, and liquidated their assets.