Kirby Corporation Announces Purchase of Three Coastwise Tank Barge and Tug Units; Purchased Seaboats, Inc. coastwise tank barge fleet consisting of three 80,000 barrel tank barge and tug units for $42.3 million in cash. Kirby Corporation has announced the purchase of the coastwise tank barge fleet of Seaboats, Inc. and affiliated companies consisting of three 80,000 barrel coastwise tank barge and tug units for $42.3 million in cash. The three coastwise tank barge and tug units currently operate along the East Coast and have an average age of five years. Financing of the purchase was through Kirby's $250 million revolving credit facility. Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "The purchase of Seaboats' coastwise fleet consisting of three 80,000 barrel tank barge units furthers our objective of growing our offshore tank barge fleet. The three tank barges are sister barges, built to the same design as our four 80,000 barrel tank barges and will expand our fleet capacity, service capabilities to our customers and provide additional flexibility."
Southeastern New England Shipbuilding Corporation (SENESCO), North Kingstown, R.I., has penned a contract with Barges Unlimited of Fall River, Mass. to construct an 80,000-barrel, 320-ft. (97.5 m) double hull barge valued at more than $6.5 million. Per the agreement, SENESCO will manufacture the largest double hull barge ever constructed in the Northeast. Work is expected to commence immediately and is expected to take up to one year for completion
Southeastern New England Shipbuilding Corporation (SENESCO) of North Kingstown, R.I., signed a major contract with Barges Unlimited, a subsidiary of Seaboats, Inc., of Fall River, Mass., to build an 80,000-bbl, 320-ft. double hull barge. The contract value is in excess of $6.5 million. With this contract signing, SENESCO will manufacture the largest double-hull barge ever constructed in the northeastern U.S. Work on the project is expected to take up to one year to complete
Kirby Corporation Announces Record 2011 Fourth Quarter and Year Results. 2011 fourth quarter earnings per share were $1.00 compared with $.59 earned in the 2010 fourth quarter 2011 year earnings per share were $3.33 compared with $2.15 for 2010 2012 first quarter earnings per share guidance is $.86 to $.93 compared with $.60 earned in 2011 first quarter 2012 year earnings per share guidance is $3.85 to $4.05 compared with $3.33 earned in 2011