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

Ports

Maersk Returns to the Port of Baltimore

Maryland Lt. Governor Boyd Rutherford, along with congressional, state and local officials, officially welcomed Denmark-based Maersk Line, part of the Maersk Group

BMT Awarded Port Geographe Coastal Engineering Contract

BMT JFA Consultants (BMT), a subsidiary of BMT Group,  has been awarded a contract by the Western Australian Department of Transport (DoT) to provide services as

KPA: Striking Mombasa Port Workers Must Return by Friday

The Kenya Ports Authority said on Thursday striking workers at the Mombasa port should resume work by Friday morning or lose their jobs, and that normal activities

Finance

Container Equipment Costs at Record Low

Low material costs and stable demand has driven the price of new container equipment down to record lows where it is forecast to stay, according to the latest edition

KPA: Striking Mombasa Port Workers Must Return by Friday

The Kenya Ports Authority said on Thursday striking workers at the Mombasa port should resume work by Friday morning or lose their jobs, and that normal activities

Qatar Navigation Absorbs Balance of SocGen Gasships

Qatar Navigation (Milaha) said on Thursday its unit Qatar Shipping Company had acquired the remaining 60 percent interest in two firms which own Liquefied Natural

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage 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: 0.5953 sec (2 req/sec)