AEP shopping its inland river operations unit

摘要

American Electric Power (AEP) is exploring options for its competitive barge transportation subsidiary, AEP River Operations, while keeping the captive business that hauls coal to its regulated power plants. Columbus, Ohio-based AEP said it hired Morgan Stanley & Co. to review potential alternatives for its river operations, which has a fleet of 58 towboats and 2,269 barges and employs 1,090. The unit, headquartered in Chesterfield, Mo., earned $49 million in 2014 compared to $12 million in 2013 "primarily due to improvements in barge freight demand," the company said. Parent AEP's earnings were $1.7 billion versus $ 1.6 billion in 2013.