Kirby Corp. Order Additional 29 Large Tank Barges

MarineLink.com
Monday, March 17, 2014
Image courtesy of Kirby Corp.

Kirby Corporation, based in Houston, Texas, the nation's largest domestic tank barge operator, informs it has signed agreements for the construction of 29 additional 30,000 barrel inland tank barges with a total capacity of 830,000 barrels for delivery throughout 2014.  Of the 29 inland tank barges, 18 are through the assumption of shipyard construction contracts from another inland tank barge operator and 11 are new orders placed by Kirby. 

Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "The 29 additional 30,000 barrel inland tank barges which are expected to be delivered this year will help to meet the additional volume requirements driven by strong and expanding movements of crude oil and natural gas condensate, as well as new demand from expansions in the petrochemical and refining industries."

Based on current commitments, steel prices and projected delivery schedules, the cost of the 29 inland tank barges is approximately $81 million.  The construction of the 29 inland tank barges are in addition to the previously announced construction during 2014 of 37 inland tank barges with a total capacity of 390,000 barrels at a cost of approximately $45 million, as well as approximately $45 million in progress payments on the construction of the 185,000 barrel coastal articulated tank barge and tugboat unit announced in January 2014 for delivery in mid to late 2015.

Chairman's comments on 2014 first quarter guidance
Commenting on the 2014 first quarter guidance of $1.05 to $1.15 per share issued in late January, Mr. Pyne said, "Our first quarter guidance included some negative impact on our marine operations from the unfavorable winter weather we experienced during the month of January. Since early January, temperatures have primarily remained below freezing causing heavy ice on the Illinois, upper Mississippi and upper Ohio Rivers."

"We have continued to operate on these rivers despite the heavy ice conditions, but with additional horsepower or reduced tow sizes. We are not yet able to quantify the effect of the weather conditions on first quarter earnings, and we have also incurred a $.03 per share severance charge in the quarter, but we still expect earnings will be within the published guidance."

http://www.kirbycorp.com
 

 

 

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World Extends Title Sponsorship Until 2020

Dubai is set to remain at the epicenter of golf on The European Tour for the foreseeable future after global port operator DP World announced today that it will

IMO Adopts Polar Code Environmental Provisions

United Nations' International Maritime Organization (IMO) has adopted the environmental part of the Polar Code. Hereby, internationally binding regulations on

HMAS Anzac Visits Portsmouth, UK

The Royal Australian Navy’s helicopter frigate HMAS Anzac has arrived in Portsmouth, England, as part of her NORTHERN TRIDENT 2015 deployment.   Anzac departed Sydney in March 2015,

Contracts

DP World Extends Title Sponsorship Until 2020

Dubai is set to remain at the epicenter of golf on The European Tour for the foreseeable future after global port operator DP World announced today that it will

SCI Back in the Black after 3 Yrs

The Shipping Corporation of India Ltd (SCI), India’s largest shipping company and a Government of India Public Sector Undertaking having reported losses for

Anglo-Eastern Signs Turbocharger Maintenance Deal

MAN PrimeServ Turbocharger, part of MAN Diesel & Turbo’s service division, has signed a Premium Turbocharger Maintenance Contract with Anglo-Eastern Ship Management.

Shipbuilding

ERMA Bullish on Ballast Water Treatment

After having delivered several BWTS systems in Kita Nihon shipyard in Japan, one more ERMA FIRST BWTS was successfully installed onboard the Bulk Carrier M/V SCARABÉ(DWT: 60,

USS Freedom (LCS 1) Completes Rough Water Trials

The littoral combat ship USS Freedom (LCS 1) completed Seakeeping and Structural Loads Trials, commonly referred to as Rough Water Trials (RWT) in late March the Navy reported May 21.

Conrad Announces Management Team Changes

Conrad Industries, Inc. announced the appointment of Scott J. Theriot as Executive Vice President and Chief Operating Officer.   Johnny Conrad, President and Chief Executive Officer,

Finance

DP World Extends Title Sponsorship Until 2020

Dubai is set to remain at the epicenter of golf on The European Tour for the foreseeable future after global port operator DP World announced today that it will

SCI Back in the Black after 3 Yrs

The Shipping Corporation of India Ltd (SCI), India’s largest shipping company and a Government of India Public Sector Undertaking having reported losses for

HSH Nordbank Looking to Split Off Bad Shipping Loans

HSH Nordbank AG, the world’s second-largest financier of ships, plans to split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model,

Barges

HMC Helps Fine-tune Damen Offshore Carrier

Damen Shipyards has presented a new shipping concept to the market: the Damen Offshore Carrier (DOC) is specifically designed as a smaller heavy transport vessel suitable for offshore installations.

Barge Accident off Malaysia: 14 Lost

The Bolivian-registered Ocean Line 208 vessel, which was carrying sand, was hit by a huge wave at 4.20am today early morning and 14 people are feared to have drowned.

Seaspan Marine Names Reynolds President

Bart Reynolds has been hired to take over as president of Seaspan Marine, the company announced today.   Appointed to lead Seaspan’s Marine Division, Reynolds

 
 
Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2870 sec (3 req/sec)