Kirby Corporation (“Kirby”) (NYSE: KEX) has announced net earnings attributable to Kirby for the second quarter ended June 30, 2019 of $47.3 million, or $0.79 per share, compared with earnings of $28.6 million, or $0.48 per share, for the 2018 second quarter. Excluding a one-time charge related to the retirement of Kirby’s Executive Chairman
The U.S. towing and tug business is 5,500 boats, more than 31,000 barges with an estimated total impact on U.S. GDP of $33.8 billion.“At a macro level, the bigger ships are causing downward pressure on the ship assist business because there are fewer ship calls given the increased capacity of these vessels.
Another year; another major fleet takeover by Kirby Corporation. But the leader of the inland tank-barge sector is not growing for growth’s sake: a deeper look at the numbers shows a disciplined strategy at work.“Kirby is definitely the big gorilla in the inland barge market,” affirmed Jefferies analyst Randy Giveans.
Fincantieri Bay Shipbuilding delivered an Articulated Tug Barge Unit (ATB) to Kirby Corporation (NYSE: KEX). “This is the third 155,000 barrel ATB it has built for Kirby in the past three years," said Kirby CEO David Grzebinski. "This new Jones Act-compliant ATB unit will allow us to continue our commitment to provide efficient and reliable customer service.
Kirby Corporation has announced the signing of an agreement to acquire substantially all of CGBM 100, LLC's inland marine tank barge fleet for an undisclosed amount.Under the terms of the agreement, Kirby will acquire 27 of CGBM's 10,000 barrel inland marine tank barges which have a total capacity of approximately 270,000 barrels.
The Houston Ship Channel could remain under one-way travel restrictions all week following a collision between a deep-draft ship and a barge that spilled petrochemicals into the waterway, according to an official.About 9,000 barrels of gasoline spilled into the channel near Bayport, Texas
Shipping along the Houston Ship Channel was limited to one-way traffic on Monday after a barge collided with a deep-draft ship that spilled petrochemicals into the waterway over the weekend, officials said.About 9,000 barrels of gasoline spilled into the channel near Bayport, Texas, when a 755-foot (230-m) tanker collided with a Kirby Inland Marine tugboat towing two barges containing the fuel.
Kirby Corporation announced net earnings attributable to Kirby for the first quarter ended March 31, 2019 of $44.3 million, or $0.74 per share, compared with earnings of $32.5 million, or $0.54 per share, for the 2018 first quarter. Excluding certain one-time charges, 2018 first quarter net earnings attributable to Kirby were $37.9 million, or $0.63 per share.
Kirby Inland Marine selected Furuno as the electronics of choice for its new generation of Subchapter M towboats. The first of three new vessels, MV Bailey, will soon enter service into the Kirby fleet of over 300 towboats and nearly 1,000 inland barges operating in U.S. waters. The bridge features Furuno electronics including Radar, GPS, AIS, depth sensors and more. This 88-ft.
Cenac Marine Services LLC has announced the signing of an agreement with Kirby Inland Marine, LP to acquire Cenac’s fleet.This relationship will continue to enhance Cenac’s marine construction operations, by focusing on its best in class shipyard at Main Iron Works while providing continued security for its loyal maritime employees.
Kirby Corporation announced a net loss attributable to Kirby for the fourth quarter ended December 31, 2018 of ($24.4) million, or ($0.41) per share, compared with earnings of $231.3 million, or $3.87 per share, for the 2017 fourth quarter. Excluding certain one-time charges, 2018 fourth quarter net earnings attributable to Kirby were $44.9 million, or $0.75 per share.
Like many boys, Charles. F. “Bud” Kirby, Jr. loved ships. He had drawings, models, pictures, newspaper clippings, and scrapbooks. And, as his son, Don, recently learned, he had cachet covers of submarines.Bud would send stamped envelopes to the Electric Boat Company that he had addressed to himself in Watertown, Mass.