Marine Link
Thursday, March 28, 2024
SUBSCRIBE

River Fleets News

18 Jan 2021

Cargo Ship Sinks in Black Sea, Off Turkey

A Palau-flagged freight ship has sunk off the coast of Turkey's Black Sea province of Bartin, killing two crew members, the coast guard said on Sunday, adding that search and rescue operations for more crew members were continuing.Bartin Governor Sinan Guner had initially said the ship, the ARVIN, was a Russian dry freight vessel that sank off the coast of the Inkumu region in poor weather, but later corrected that."The ARVIN ship attempted to take refuge at the Bartin port due to poor weather conditions as it carried cargo from Georgia to Bulgaria," Guner was quoted as saying by state-owned Anadolu news agency.The coast guard said the ship had sunk after taking in water amid heavy weather conditions.

27 Aug 1999

Kirby Purchase Of Hollywood Creates Inland Giant

Despite a downgrading in rating from various credit agencies, Kirby Corporation's recent acquisition of Hollywood Marine is designed to reduce costs, as the inland tank barge operations of both companies are highly complementary. Kirby Corp, the largest U.S. tank barge operator, has agreed to buy Hollywood Marine Inc., an inland tank barge company based in Houston, for approximately $325 million. Kirby, also based in Houston, said the purchase price consists of $90 million in stock, $135 million in cash and the assumption or refinancing of about $100 million of Hollywood debt. "Hollywood's operations are complementary to our core inland tank barge operation and are an excellent fit within Kirby's strategy of growing our core businesses through synergistic acquisitions…

24 Sep 1999

Merger's Goal: Improved Efficiency

Kirby Corp, the largest U.S. tank barge operator, has agreed to buy Hollywood Marine Inc., an inland tank barge company based in Houston, for approximately $325 million. Kirby, also based in Houston, said the purchase price consists of $90 million in stock, $135 million in cash and the assumption or refinancing of about $100 million of Hollywood debt. "Hollywood's operations are complementary to our core inland tank barge operation and are an excellent fit within Kirby's strategy of growing our core businesses through synergistic acquisitions," Kirby CEO and President J.H. Pyne said. As part of the deal, Kirby said it would name C. Berdon Lawrence…