The Interlake Steamship Company is an American freight ship company that operates a fleet on the Great Lakes in North America. It is now part of Interlake Maritime Services.
The company is chaired by James R. Barker, with his son, Mark W. Barker, serving as President. Paul R. Tregurtha serves as Vice-Chairman of the company.
Founding and early company operations Interlake Steamship Company was founded in 1913 when a consortium of firms bought out the seventeen vessels of the Gilchrist Company, which had gone into receivership. The other firms were: the Lackawanna Steamship Company, the Acme Steamship Company, the Standard Steamship Company, the Provident Steamship Company and the Huron Barge Company. The combined fleet operated 56 vessels.
1913 Merger
The new stock issued in exchange for the old companies' stocks was computed based on the average of (1) appraised value of each old company (2) earning power in 1912 of each old company. From this was subtracted outstanding debt of each company (totaling $1,335,300) which was assumed by the new company and retired in 1913. In other words, the par value of common stock was valued equal to cash at the time of the merger. The 17 ships of the Gilchrist Transportation Company were bought for $2,362,669 in cash. An insurance fund was created and funded with an initial cash deposit of $250,000. Self-insurance becoming viable with a large enough number of ships was an explicit motive for the merger. The cash required was obtained by the sale of $3 million in bonds at 97 and the sale at par of $1,196,807 in stock. The Lackawanna Steamship Company as the surviving company was renamed to Interlake Steamship Company. Pickands, Mather & Co had the controlling interest.
Company Incorporated Date Ships Tons Consideration (common stock par value) Lackawanna SS Co. Ohio Oct 14, 1906 7 49,120 $1,339,588 Mesaba SS Co. Ohio Nov 3, 1904 4 39,600 1,332,134 Acme SS Co. West Virginia Oct 12, 1903 3 30,000 761,169 Provident SS Co. West Virginia Nov 18, 1901 3 22,300 468,470 Interlake Co. Ohio May 1893 2 14,000 299,242 Huron Barge Co. Ohio Dec 28, 1891 2 9,900 203,610 Standard SS Co. West Virginia Oct 26, 1906 1 10,000 181,467 Total 22 174,920 4,585,680 (Issued for cash) 1,196,807 Gilchrist Trnpt Co. Ohio Jan 1897 17 120,300 Grand total 39 295,220 5,782,487
+ Cash transactions Item Amount 17 Gilchrist ships $2,362,669 Retired bonds principal 1,335,300 Bonds interest + call premium 58,830 Working capital 100,070 Initial insurance fund 250,000 Total 4,106,806
In 1916 13 ships (96,600 tons) were acquired from the Cleveland Steamship Company for a new total of 52 ships.
Interlake operated the second largest fleet on the Great Lakes in 1933 with 49 ships totaling 417,800 tons behind the Pittsburgh Steamship Company with 86 ships and 732,200 tons.
Modern day operations
When Interlake launched its largest vessel in 1981, MV William J. Delancey (now MV Paul R. Tregurtha), its fleet contained 151 vessels, and was capable of carrying over three million tons of cargo at one time.
In early 2018, Interlake established a subsidiary service known as Interlake Logistics Solutions. Although its existing freight services were focused on bulk raw materials, the new service offered shipping of finished goods. The Barker and Tregurtha families, owners of Interlake Steamship, chartered the , barge Montville to provide this new service on an as-needed basis.
In April 2019, Interlake Steamship announced construction of a long, wide River-class self-unloading bulk freighter. The vessel, built by Fincantieri Bay Shipbuilding in Sturgeon Bay, Wisconsin, was the first U.S.-flagged, Jones Act-compliant ship constructed on the Great Lakes since 1983. and the first constructed by Interlake since 1981. The ship was christened MV Mark W. Barker in Cleveland, Ohio on 1 September 2022.
In December 2020, was acquired by the Interlake Steamship Company. The deal also included acquisition of the tug (renamed MT Undaunted), deck barge (renamed ATB Pere Marquette 41), and SS Badger sister ship , currently in long-term lay-up. This was a part of a larger sale of assets. The Middleburg Heights, Ohio-based Interlake Holding Company acquired the assets of Lake Michigan Car Ferry Company, based in Ludington, Michigan.
Fleet of vessels + The Interlake Steamship Company Vessels Image Vessel Name Commissioned Decommissioned Notes ATB Pere Marquette 41 1940 1988 Currently an articulated tug-barge united with the tug Undaunted Constructed as SS City of Midland 41 1942 Constructed as USS Chiwawa for the United States Navy, later renamed SS Walter A. Sterling and SS William Clay Ford (II) MT Undaunted 1944 Currently an Auxiliary Fleet Tug on the Great Lakes Constructed as 1952 1979 Currently on long-term lay-up in Ludington, Michigan 1952 The last, and largest, coal-fired, steam engine car-ferry constructed in the United States 1952 Constructed as SS Edward B. Greene, later renamed SS Benson Ford (III) Dorothy Ann-Pathfinder Tug-Barge 1953 Constructed as SS J. L. Mauthe. Later renamed Dorothy Ann-Pathfinder, an articulated tug-barge unit entered service after a conversion from the former straight-deck bulk carrier, Steamer J. L. Mauthe. The Z-drive tug Dorothy Ann began sailing with the barge Pathfinder in 1999 SS John Sherwin 1958 2008 Currently on long-term lay-up at the Interlake Steamship Company Dock in DeTour, Michigan MV Herbert C. Jackson 1959 Has always sailed for the Interlake Steamship Company Constructed at Great Lakes Engineering Works at the same time of the MV Honorable James L. Oberstar 1959 Constructed as SS Shenango II, later renamed SS Charles M. Beeghly MV Stewart J. Cort 1972 First 1000-foot vessel on the Great Lakes, the only 1000-foot vessel with pilothouse forward MV James R. Barker 1976 Third 1000-foot vessel on the upper Great Lakes MV Mesabi Miner 1977 Fourth 1000-foot vessel on the upper Great Lakes MV Paul R. Tregurtha 1981 Thirteenth 1000-foot vessel on the upper Great Lakes Constructed as MV William J. Delancey Flagship for the Interlake Steamship Company Longest ship ever to operate on Great Lakes Queen of the Lakes since 1981 1993 2021 Currently on long-term lay-up in Ludington, Michigan MV Mark W. Barker 2022 The first Great Lakes bulk carrier that was constructed on the Great Lakes in more than 35 years The first ship on the Great Lakes with engines that meet EPA Tier 4 emissions standards First Jones Act-compliant vessel on Great Lakes in four decades
1913 Merger
The new stock issued in exchange for the old companies' stocks was computed based on the average of (1) appraised value of each old company (2) earning power in 1912 of each old company. From this was subtracted outstanding debt of each company (totaling $1,335,300) which was assumed by the new company and retired in 1913. In other words, the par value of common stock was valued equal to cash at the time of the merger. The 17 ships of the Gilchrist Transportation Company were bought for $2,362,669 in cash. An insurance fund was created and funded with an initial cash deposit of $250,000. Self-insurance becoming viable with a large enough number of ships was an explicit motive for the merger. The cash required was obtained by the sale of $3 million in bonds at 97 and the sale at par of $1,196,807 in stock. The Lackawanna Steamship Company as the surviving company was renamed to Interlake Steamship Company. Pickands, Mather & Co had the controlling interest.
Company Incorporated Date Ships Tons Consideration (common stock par value) Lackawanna SS Co. Ohio Oct 14, 1906 7 49,120 $1,339,588 Mesaba SS Co. Ohio Nov 3, 1904 4 39,600 1,332,134 Acme SS Co. West Virginia Oct 12, 1903 3 30,000 761,169 Provident SS Co. West Virginia Nov 18, 1901 3 22,300 468,470 Interlake Co. Ohio May 1893 2 14,000 299,242 Huron Barge Co. Ohio Dec 28, 1891 2 9,900 203,610 Standard SS Co. West Virginia Oct 26, 1906 1 10,000 181,467 Total 22 174,920 4,585,680 (Issued for cash) 1,196,807 Gilchrist Trnpt Co. Ohio Jan 1897 17 120,300 Grand total 39 295,220 5,782,487
+ Cash transactions Item Amount 17 Gilchrist ships $2,362,669 Retired bonds principal 1,335,300 Bonds interest + call premium 58,830 Working capital 100,070 Initial insurance fund 250,000 Total 4,106,806
References
External links Interlake Steamship Company