KIRBY OCEAN TRANSPORT
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
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 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
"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 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 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
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. 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
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.
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.
Mitsui O.S.K. Lines, Ltd. (MOL)’s president, Koichi Muto, announced plans to make a donation of $30,000 to aid afflicted people of Typhoon Haiyen, which devastated the central Philippines. The main portion of MOL’s donation will go to afflicted people on the island of Leyte
Mitsui O.S.K. Lines, Ltd. (MOL) said the MOL Group will provide free transport of relief supplies by containerships to the central Philippines devastated by the recent typhoon. The company has already donated $30,000 to emergency relief efforts.
During the tenth-annual Chamber of Shipping of America (CSA) awards ceremony held in Washington, D.C., this week, Crowley Maritime Corporation was awarded 100 Certificates of Environmental Achievement for 2013 – more than any other company in the running
The decision to suspend Inchcape Shipping Services Holding Ltd. (ISS) came in a statement from Rear Admiral John F. Kirby, Navy Chief of Information, as follows: "The Navy announced today it suspended Inchcape Shipping Services Holding Ltd
33rd Annual Event to be Hosted by Al Roker and Honor Joseph Pyne of the Kirby Corporation The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of Coast Guard members and their families, announced that its 33rd annual Salute to the United States Coast Guard
Genesis Energy has completed the previously announced acquisition of all the assets of the downstream transportation business of Hornbeck Offshore Transportation, LLC. The purchase price was approximately $230 million plus customary adjustments
With a family of three yards located along the Gulf of Mexico in Alabama, Mississippi and Texas, Signal International offers new construction, rig and ship repair, offshore and technical services. Marine construction and repair needs are complimented by three dry docks; a 30,000-ton lift rig dock
MOL (America) Inc. announces August 2013 KPI results showing continued improvements in documentation accuracy and in-terminal truck turn time. MOL (America) Inc. announces the August 2013 results of its Regional Key Performance Indicators (KPI) in the following categories: operations
When Joseph H. Pyne joined Dixie Carriers in 1978, little did he know the maritime juggernaut he would help to create. When he took over as president in 1984, the company owned about 20 boats and 50 barges, with a value of about $35m. Today, after nearly 30 years, 50 acquisitions
Fairmount Marine’s multipurpose vessel Fairmount Fuji has assisted Italian contractor Saipem with her operations offshore Congo. Fairmount Fuji has performed several cargo runs between Siapem’s Boscongo yard in Pointe Noire and the offshore Congo moored drilling ship Siapem 1000
Kirby’s Investment Grows – and Pays off Handsomely. Houston-based Kirby Corporation runs an in-house training center that today instructs 3,000 students yearly in 26 different courses – many of which are U.S. Coast Guard approved
Louisiana Gulf Coast Oil Exposition (LAGCOE) 2013 recently welcomed more than 17,000 attendees from 47 states and 43 countries to the Cajundome & Convention Center in Lafayette, La. The record breaking number of attendees viewed 416 exhibits and participated in nine technical presentations
80% of the world’s semi-submersible heavy-lift vessels are equipped with motion monitoring and decision support systems says ABB, including the 'Dockwise Vanguard' recently contracted to lift and carry off the 'Costa Concordia'. Offshore oil and gas platforms and floating production centers
On the heels of the recent delivery of Olympus, the largest tension-leg platform ever to be developed for the U.S. Gulf of Mexico, Crowley has once again shown support for the domestic petroleum industry by providing ocean towing and positioning support services for the Lucius spar in the Gulf of
Bowhead Transport, LLC has recently awarded Nichols Brothers Boat Builders a contract to construct a new 150 by 50’ Landing Craft. The landing craft will operate in Arctic coastal villages of the North Slope Borough of Alaska and between the Pacific and Arctic oceans.