Young Brothers Seeks State Help for Barge ‘Crisis’
By Catherine Cluett Pactol
Interisland shipper Young Brothers has declared an “impending cash crisis” and is now seeking help from the state to continue operations, the company announced last week.
YB officials said the COVID-19 pandemic has brought a 30 percent drop in cargo volumes and the company reported losing nearly $8 million through April and projects mounting losses totaling approximately $25 million by the end of the year. In a letter to the state Public Utilities Commission (PUC), YB called its financial situation “extremely dire.”
The company claimed it will no longer receive cash infusions from its parent company as of June 1.…














