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.
Robert (Bob) Hill of Ocean Tug & Barge Engineering Corp., of Milford, MA has specialized in the design of AT/B’s for many years. Hill’s name is, in most maritime circles – here and across the big pond – synonymous with the words “articulated tug/barge systems.” As probably the world's most experienced designer of large articulated tug/barge (AT/B) systems, Hill’s success comes, in part
Houston based tank barge operator Kirby Corporation announced that Joseph H. Pyne will retire as Executive Chairman of the Board, effective April 30, 2018. Pyne will continue to serve as Chairman of the Board in a nonexecutive role.The firm also announced that Kirby will incur a charge for compensation related to retirement in the second quarter of 2018.
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.
Kirby Corporation has announced the signing of an agreement to acquire Targa Resources Corp’s inland marine tank barge business for approximately $69.3 million in cash. The purchase will be financed through additional borrowings. Targa’s inland marine tank barge fleet consists of 16 pressure barges that have a total capacity of approximately 258,000 barrels
Kirby Corporation has announced that it has entered into an amended and restated credit agreement with a group of banks.The Credit Agreement, among other things:Extends the term of Kirby’s existing $850 million revolving credit facility to March 27, 2024 (the “Maturity Date”);Adds a new five-year term loan facility in the amount of $500 million which is repayable in quarterly installments
Kirby Corporation announced the completion of the acquisition of the marine transportation fleet of Cenac Marine Services, LLC, an operator of tank barges and towboats participating in the inland tank barge transportation industry in the United States. The total value of the transaction was approximately $244 million and was financed with additional borrowings.
Campbell Transportation Company, Inc. said that Kyle Buese will be joining the company as Executive Vice President of Operations effective January 7, 2019.Buese is a graduate of Tulane University where he received his Master of Business Administration degree and a graduate of Loyola University of New Orleans where he received his Bachelor of Business Degree.