The inland waterway system, flowing through the United States heartland, is a microcosm of all that has been happening in 2020: trade tensions, infrastructure issues, shifting trends in fuel consumption and the pandemic that has gripped us since the winter months. Shortly after the initial coronavirus outbreak here in the U.S.
America's largest tank barge operator Kirby Corporation on Tuesday announced a net loss of $248.5 million for the first quarter, down from $44.3 million earnings for the same period last year. The company also withdrew its full year earnings guidance.The sharp deceline in energy prices and oil and gas activity negatively impacted the revenue and operating income of Kirby's distribution and
Liquefied natural gas (LNG) ships are set to receive an earnings boost from restocking demand after colder conditions drove a scramble for supplies and record high freight rates, a top LNG tanker player said.A cold snap in Europe and Asia in January and in North America last month increased heating demand, prompting prices to jump in several markets, while inventories fell.