KIRBY OCEAN TRANSPORT

Kirby Expects Strong 3Q Earnings

Expected result compares with $.57 per share for the 2010 third quarter, fueled by continued strong inland marine transportation and land-based diesel engine services markets. Kirby to announce 2011 third quarter results on Wednesday, October 26, 2011, with conference call on Thursday, October 27, 2011. Kirby Corporation announced today that it expects its 2011 third quarter net earnings to exceed $.90 per share, above the top end of Kirby's earnings guidance of $.82 to $.87 per share, and substantially above 2010 third quarter earnings of $.57 per share.  Kirby will address the 2011 fourth quarter and year guidance when it announces its third quarter results at 5:00 p.m. central time on Wednesday, October 26, followed by its conference call at 10:00 a.m. central time on Thursday, October 27, 2011. Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "Increased petrochemical production encouraged by low natural gas prices has led to strong utilization levels in Kirby's petrochemical fleet.  Stable refinery production levels with the exportation of heavy fuel oils continue to support Kirby's black oil products fleet.  New demand for the transportation of crude oil from shale formations in South Texas is in place, and crude oil from the Midwest to the Gulf Coast continues. The high utilization rates in our inland fleet have led to higher term and spot contract pricing

SUNY Maritime Admiral’s Scholarship Dinner

On Tuesday, May 5th, at 6:00 pm, the State University of New York Maritime College will salute the American Bureau of Shipping (ABS), Kirby Inland Marine and Professor Emeritus William Sembler, ’52 at the College’s annual Admiral’s Scholarship Dinner.  The event will be held on the college’s waterfront campus in Throgs Neck, New York.   ESPN Sailing Analyst and former America’s Cup sailor Gary Jobson will serve as the Master of Ceremonies for the

Kirby Signs Agreement With Coastal Towing

Kirby Corporation announced the signing of an asset purchase agreement with Coastal Towing, Inc. ("Coastal") to purchase from Coastal seven black oil tank barges and 13 inland towboats. The transaction, estimated at $17.1 million in cash, is being financed through Kirby's operating cash flow and available credit under Kirby's bank revolving credit agreement. Kirby and Coastal have also entered into a Barge Management Agreement whereby Kirby will serve as manager of the combined black

News: Poor Weather, Repairs Forces Kirby to Lower Expectations

"Very poor weather, major repairs to a lock on the Gulf Intracoastal Waterway and rapidly escalating fuel prices, not lower business levels, are the factors causing Kirby to revise its first quarter forecast," were a few reasons that Joe Pyne, Kirby Corporation's President CEO, cited for the company's lowering of its earnings guidance for the 2003 first quarter to $.26 to $.30 per share from previous guidance of $.36 to $.40 per share

Kirby Corporation Purchases Tank Barges

Kirby Corporation announced the purchase of the stock of Coastal Towing, Inc., the owner of 37 inland black oil tank barges, for approximately $19.3m. Kirby has been operating the Coastal tank barges since October 2002 under a barge management agreement. Kirby also announced the purchase of 21 tank barges from Cypress Barge Leasing, LLC for $15m in cash. Kirby has been leasing the barges since 1994 when the leases were assigned to Kirby as part of Kirby's purchase of the tank barge fleet

Kirby Corp. Announces Record Results

Kirby Corporation reported that for the fourth quarter ended December 31, 2000, net earnings were a record $9,088,000, compared with $3,974,000 for the 1999 fourth quarter. For the 2000 year, net earnings were $34,113,000, up from $21,441,000 in 1999. Joe Pyne, Kirby's President and Chief Executive Officer, said, "The 2000 fourth quarter net earnings of $.38 per share and 2000 year net earnings of $1.39 per share are record results for Kirby. Our EBITDA results of $33,615,000, or $1

Osprey Line Makes Record Container Tow

M/V Bill Watson, with a 15 barge tow traveling through Baton Rouge. Osprey Line, LLC, recently completed the largest single unit tow container movement in the history of the U.S. Inland Waterway System. The 15 barge tow was loaded with 375 containers (750 TEU) of agricultural products from Memphis to New Orleans and Houston. Osprey Line worked closely with six major steamship lines to move the cargo to Gulf of Mexico ports for export on container vessels

Kirby Corp. Records Solid Results

Kirby Corp. has apparently had success incorporating Hollywood Marine, a move which effectively created the largest inland barge operator in the country. In February, the company reported earnings per share (EPS) of $0.38, versus $0.31 a year ago. While the company appears strong, poised for further growth, there are some concerns as noted in a research report from Lazard Freres & Co. LLC. Management expects the slowing U.S

Vocational Training Options Grow

From MarineNews, March 2010 Vocational training options continue to expand since the STCW 1995 rules put a crimp in the hawsepipe. The Pacific Maritime Institute’s (PMI) Workboat Academy has graduated its third class of mates. The State University New York (SUNY) Maritime College has opened a new two-year engineers program. Finally, Kirby’s training school continues to provide company employees with an in-house route to the wheelhouse.

Johnson Joins Senesco Marine

Senesco Marine located in North Kingstown, R.I., a part of the Reinauer family of marine companies, principally engaged in the design and construction of state of the art OPA-90 compliant double hull ATB ocean tank barges and the new generation of “Facet” tugs announces that it is bringing on board Tom Johnson who will be responsible for new business development expanding the ship builders services to the commercial market.