Kirby 1Q Net Flies High

Friday, May 05, 2000
Kirby Corporation -- which operates 774 inland tank barges, with 14 million barrels of capacity, and 229 towing vessels -- reported net earnings for the 2000 first quarter of $6.1 million. Net earnings for the 1999 first quarter were $4 million. The 2000 first quarter results include the acquisition in October 1999 of Hollywood Marine, Inc., accounted for under the purchase method of accounting. Movements in each of Kirby's inland tank barge markets were generally at, or above, expected levels. Refined products movements to the Midwest were unseasonably strong, the result of gasoline inventory anomalies in the Midwest. Fertilizer movements were also stronger than usual during the first quarter. The marine transportation operating margin was 14 percent for the 2000 first quarter compared with 12 percent for the 1999 first quarter. Kirby's diesel engine services segment experienced an improvement in business activity from the Gulf Coast drilling and offshore supply vessel markets and a stronger Midwest river market and nuclear market when compared with the 1999 fourth quarter. The operating margin for the diesel engine services segment was 10.7 percent for the 2000 first quarter compared with 10.2 percent for the 1999 first quarter.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

APM Terminals Bahrain Push for Safety, IT systems

Hidd, Khalifa Bin Salman Port, Bahrain - APM Terminals Bahrain, operators of Khalifa bin Salman Port (KBSP), has recently made significant advances in Safety performance

DP World to Manage Somaliland Port for 30 Years

DP World has reached an agreement to manage the Berbera port in Somaliland, which would allow it to become a major hub for goods to transit to and from the Horn of Africa,

Abu Dhabi Ports Try to Lure Chinese Businessmen

Abu Dhabi Ports - the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate - presented the integrated offerings of Khalifa

Finance

Oman Shipping Makes Profit

Oman Shipping Company (OSC) reported a $180 million profit in 2015. Tariq bin Mohammed Al Junaidi, chief executive officer of OSC has been quoted by  Oman News

Korean Shipbuilder Could Be Liquidated

 South Korea's STX Offshore & Shipbuilding Co. has filed for receivership, following massive losses that have mounted up over the past two years, says a report in the WSJ.

Abu Dhabi Ports Try to Lure Chinese Businessmen

Abu Dhabi Ports - the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate - presented the integrated offerings of Khalifa

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar
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: 0.1016 sec (10 req/sec)