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 of The Dow Chemical Company. Both the Coastal and the Cypress purchases were financed through Kirby's $250 million revolving credit facility. Kirby also confirmed its 2006 fourth quarter earnings per share guidance of $.40 to $.45 and 2006 year guidance of $1.74 to $1.79. The guidance represents a 5% to 18% over reported 2005 fourth quarter net earnings of $.38 per share and a 31% to 35% increase over the 2005 net earnings of $1.33 per share.
At Waterways Council, Inc.’s (WCI) Annual Meeting and Board of Directors Meeting held October 12, 2009 in New Orleans, the following officers and Executive Committee members were elected to serve or continue service for 2009-20010: Richard R. (Rick) Calhoun, Cargo Carriers, Chairman; Cornel Martin, President & CEO; Merritt Lane, Canal Barge Line, Vice Chairman; Rodney Weinzierl, Illinois Corn Growers Association, Vice Chairman; Matt Woodruff, Kirby Corporation
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
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.
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 $
Michael Hennessey Named Chairman. At its October 19, 2011 meeting in Pittsburgh, the National Waterways Foundation (NWF) elected the following officers: Michael W. Hennessey, Vice President, Sales and Marketing, Brownsville Marine Products, was elected Chairman. He succeeds Craig E. Philip, President and CEO, Ingram Barge Company, who remains on the Foundation as Immediate Past-Chairman.
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
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
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
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
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
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
Employers are hiring in coastal Louisiana, especially as offshore drilling picks up in the Gulf of Mexico. Companies are concerned about finding enough skilled workers in a locally tight labor market. For mariners, a variety of training programs at different levels and costs are offered in south
Kirby Corp. reports continued overall inland tank barge utilization & improved rates as US petrochemical production remained strong. Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "Our second quarter earnings of $.85 per share came in at the high end of our revised $
Kirby Corporation agrees to purchase assets of Allied Transportation Company, a subsidiary of Allied Marine Industries, & two affiliated companies. Kirby Corporation, based in Houston, Texas, is the nation's largest domestic tank barge operator
U.S. Postal Service to dedicate Earthscapes Forver stamps to include "Barge Fleeting," an aerial view of towing vessels. WHAT: The United States Postal Service will dedicate a series of Forever Stamps entitled “Earthscapes
Kirby Corporation (Kirby) has signed an agreement to acquire Penn Maritime Inc. (Penn) and Maritime Investments LLC. Penn Maritime is an operator of tank barges and tugboats participating in the coastal transportation of primarily black oil products in the United States
Kirby Corporation completes the acquisition of Penn Maritime Inc. & Maritime Investments LLC, US operators of tank barges and tugboats. Penn's fleet, comprised of 18 double-hulled tank barges with a capacity of 1.9 million barrels and 16 tugboats
C. Berdon Lawrence retires from Board after 13 years of service, William M. Waterman, former President of Penn Maritime, elected to Board. Kirby Corporation, based in Houston, Texas, is the nation's largest domestic tank barge operator, transporting bulk liquid products throughout the
Kirby Corporation To Announce 2012 Fourth Quarter And Year Results On January 30, 2013, With Conference Call On January 31, 2013. Kirby Corporation ("Kirby") (NYSE:KEX) will announce its 2012 fourth quarter and year results at 5:00 p.m. central time on Wednesday, January 30, 2013
Kirby Corporation today announced net earnings attributable to Kirby for the fourth quarter ended December 31, 2012 of $57.9 million, or $1.03 per share, compared with $56.2 million, or $1.00 per share, for the 2011 fourth quarter. Revenues for the 2012 fourth quarter were $512
Testifying on behalf of the American Maritime Partnership, Kirby Corporation Chairman & CEO Joseph Pyne urged Members of Congress to strongly support the Jones Act for the economic, national security and homeland security benefits it provides to the United States. Mr
American Commercial Lines (ACL) has been selected to serve as a representative on the Inland Waterways Users Board (IWUB), an advisory board established to monitor the Inland Waterways Trust Fund (Fund) and make recommendations to the Army Corps of Engineers and to Congress on investment
Kirby Corporation ("Kirby") (NYSE:KEX) will announce its 2013 second quarter results at 5:00 p.m. central time on Wednesday, July 24, 2013. A conference call to discuss the results will be held at 10:00 a.m. central time on Thursday, July 25, 2013.