Dixie Carriers News

Inland and coastal giant christens ATB duo Jason E. Duttinger and Winna Wilson in an October New Orleans ceremony. The crew of the Jason E. Duttinger took a break from hauling coal between Plaquemines Parish, Louisiana, and Florida on Oct. 30 as Kirby Corp. of Houston christened the articulated tug-and-barge unit in New Orleans at the dock of the Hilton Riverside Hotel. Both units were named in honor of two special individuals. Jason Duttinger was a senior transportation specialist at North Carolina-based Duke Energy when he died of cancer in 2011.

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, it has a market cap well in excess of $4B, and its fleet hovers around 350 boats and 950 barges, commanding approximately 35% of the U.S. market. Joseph H. Pyne, 65, recently spent some time with Maritime…

There is no question that timely repairs and preventative maintenance can extend the life of almost any workboat. It is also true that changing market conditions can lead to renovations to effectively extend the life of many vessels. The one event that triggers many repair projects is the Coast Guard's five-year hull inspection program, often referred to as a "shave and a haircut". Most operators use these occasions to inspect shafts, wheels and do top side repairs as well. With the hull is out of the water, not only can shafts, rudders and wheels be repaired, but also anodes replaced, sea chests inspected and the entire bottom given a coat of anti-fouling paint.

Despite a downgrading in rating from various credit agencies, Kirby Corporation's recent acquisition of Hollywood Marine is designed to reduce costs, as the inland tank barge operations of both companies are highly complementary. Kirby Corp, the largest U.S. tank barge operator, has agreed to buy Hollywood Marine Inc., an inland tank barge company based in Houston, for approximately $325 million. Kirby, also based in Houston, said the purchase price consists of $90 million in stock, $135 million in cash and the assumption or refinancing of about $100 million of Hollywood debt. "Hollywood's operations are complementary to our core inland tank barge operation and are an excellent fit within Kirby's strategy of growing our core businesses through synergistic acquisitions…

Kirby Corp, the largest U.S. tank barge operator, has agreed to buy Hollywood Marine Inc., an inland tank barge company based in Houston, for approximately $325 million. Kirby, also based in Houston, said the purchase price consists of $90 million in stock, $135 million in cash and the assumption or refinancing of about $100 million of Hollywood debt. "Hollywood's operations are complementary to our core inland tank barge operation and are an excellent fit within Kirby's strategy of growing our core businesses through synergistic acquisitions," Kirby CEO and President J.H. Pyne said. As part of the deal, Kirby said it would name C. Berdon Lawrence…