Trinity Industries News

Ingram Barge Company say they will be building 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions, this continued expansion in their barge fleet coincides with a 10-year plan that began in 2007 to build barges with Trinity Industries. Ingram's building strategy has been able to maintain their fleet size as barges reach retirement age. This announcement demonstrates their’s commitment to continue building tank barges as part of its goal to meet its growing customers’ demand in the Chemical Liquids sector. Ingram Barge explains that over the past several years, inexpensive natural gas has increased domestic chemical production and demand for new tank barges.

Ingram Barge Company announced that it will build 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions, this continued expansion in their barge fleet coincides with a 10-year plan that began in 2007 to build barges with Trinity Industries. With this building strategy, Ingram has been able to maintain its fleet size as barges reach retirement age. Ingram said today’s announcement demonstrates…

Analysts' Corner release new research reports highlighting Trinity Industries, Inc., Nordic American Tankers Limited ), J.B. Hunt Transport Services, Inc., SEACOR Holdings, Inc.), and DryShips Inc. Readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below. Trinity Industries, Inc. J.B. Hunt Transport Services, Inc. SEACOR Holdings, Inc. DryShips Inc. Analysts' Corner add that they are an independent source whose views do not reflect the companies mentioned in these reports. Secondly that information in this release is fact checked and produced on a best efforts basis and reviewed by a CFA. However, they remind readers that they are only human and are prone to make mistakes.

In the more than two years since its founding, Mississippi-based TY Offshore, the former Trinity Offshore, has invested in a new yard in Gulfport and repaired its storm-damaged New Orleans holdings. The company has doubled its capacity and racked up new orders, president and CEO John Dane III said. TY Offshore designs and builds offshore barges, tugs, oilfield-support vessels and spill-response and patrol vessels. The company's new name, adopted in late June, should make business simpler. “We decided to rebrand for two reasons,” Dane said.

“The 2008 financial crash slowed  the luxury business, and the new class warfare coming out of Washington has made owning a large yacht out of favor. In the more than two years since its founding, Mississippi-based TY Offshore, the former Trinity Offshore, has invested in a new yard in Gulfport and repaired its storm-damaged New Orleans holdings. The company has doubled its capacity and racked up new orders, president and CEO John Dane III said. TY Offshore designs and builds offshore barges, tugs, oilfield-support vessels and spill-response and patrol vessels. The company's new name, adopted in late June, should make business simpler. “We decided to rebrand for two reasons,” Dane said.

Trinity Marine Products, Inc., a subsidiary of Trinity Industries, Inc. Tom Faherty has been promoted to President of Trinity Marine Products, replacing Paul Mauer, now Chief Operations Officer for TrinityRail. He has held a number of positions within Trinity Marine Products. Most recently, serving as Vice President and General Manager of the tank barge product line. He brings 36 years of experience and knowledge in the marine industry to his new leadership role. Stephen Sheridan has been promoted to Executive Vice President and Chief Commercial Officer of Trinity Marine Products. He has 37 years of industry experience in a variety of executive leadership positions. In his new role, Mr. Sheridan will focus on enhancing Trinity Marine’s commercial relationships.

John Dane III presented TY Offshore to the maritime industries. The re-branding of the company from Trinity Offshore to TY Offshore is intended to provide clear market positioning for the leading Mississippi-based designer and builder of commercial tugs, offshore barges, oil spill response, patrol and oil field support vessels from 10 meters to 95 meters (33’ to 312’) in length. The name change is also intended to delineate the company from Dallas, Texas-based Trinity Industries, Inc.

U.S. Transportation Secretary Ray LaHood announced $9.98 million in grants to 15 small shipyards throughout the United States to pay for modernizations which will increase productivity and help the country’s small shipyards compete in the global marketplace. “In cities and towns across America, shipyards are creating jobs and keeping our nation's economy growing," said Secretary LaHood. The U.S. Maritime Administration’s (MARAD) Small Shipyard Grants Program provides equipment and technical skills training for America’s maritime workforce…

If towboats and barges hurtled passed the average American on their way to work every morning, the industry would be better known. If commuters had to deal with failed locks the way they have to deal with congested freeways, political support for the river industry’s infrastructure would be easier to come by. Instead, towing vessels and their crews go about their work in relative obscurity. The general public sees towboats and barges as historic relics from Sam Clemens’ time and less so an integral part of the modern American economy.

The Department of Transportation has announced 70 grants totaling $98m in American Recovery and Reinvestment Act (ARRA) funds that will be used to improve small shipyards throughout the United States. The funds, awarded through the Maritime Administration’s Assistance to Small Shipyards program, will help create and preserve jobs, provide valuable employment training and make much needed improvements to shipyards across the country. The Small Shipyards Grant program provides up to 75 percent in ARRA funds for a project and requires the remainder be matched by the shipyard. A detailed list of the grantees is as follows. •    Aker Philadelphia Shipyard, Inc.,  Philadelphia, PA: $2,312,614, for the first year of training program.

On June 1, 2009, the Society of Naval Architects and Marine Engineers announced new additions to its rank of Fellows. The membership grade of Fellow is accorded to individuals who have contributed to significant achievements in naval architecture, marine and ocean engineering, and related fields in the form of advances in design, research, production, operation, education, and associated management. G. Russell Bowler: As the Chief Engineer/Vice President of the largest and most successful sailing yacht design company in America, Russell has served as the lead naval architect in numerous groundbreaking designs. Mr. Bowler introduced modern composite construction to the Round the World Race of 1985/86 with the outstanding success of the maxi-yacht UBS Switzerland.

Trinity Industries, Inc. (NYSE: TRN) on March 3, declared a quarterly dividend of 8 cents per share on its $1.00 par value common stock. The quarterly cash dividend, Trinity's 180th consecutive, is payable April 30, 2009 to stockholders of record on April 15, 2009. Trinity Industries, Inc., headquartered in Dallas, Texas, is a multi-industry company that owns a variety of market-leading businesses which provide products and services to the industrial, energy, transportation, and construction sectors. Trinity reports its financial results in five principal business segments: the Rail Group, the Railcar Leasing and Management Services Group, the Inland Barge Group, the Construction Products Group, and the Energy Equipment Group. (www.trin.net)

Trinity Industries, Inc. today announced Robert P. Herre has been named Executive Vice President of Trinity Marine Products, Inc., a subsidiary of Trinity Industries, Inc. Herre is a 25-year veteran of both the marine and inland shipbuilding industries, trained and experienced in engineering, operations and general management. Most recently, Herre served as President and Chief Operating Officer of Jeffboat LLC, a subsidiary of American Commercial Lines, LLC. "I'm extremely pleased to have someone of Bob's caliber joining the company," said Paul Mauer, President of Trinity Marine. "His background and experience enhance our existing management team, providing a unique perspective from within the industry.

Trinity Industries, Inc. has announced that it is proposing to make, subject to market and other conditions, an offering of up to $300 million aggregate principal amount of senior notes due 2014 in a private offering. Trinity intends to apply the net proceeds of the offering to repay indebtedness outstanding under its existing credit facility and for general corporate purposes, including, among others, to make capital expenditures in strategic manufacturing facilities and fund working capital requirements of its railcar manufacturing operations.

Trinity Marine Products has reached a settlement agreement with Florida Marine Transporters, Inc. related to 28 tank barges owned and/or operated by Florida Marine. Trinity Industries, Trinity Marine Products, and Florida Marine will each dismiss their claims filed against one another. The settlement involves a joint monitoring of the barge coatings and void compartment maintenance procedures, and a mutual release of all claims against one another according to the parties’ representatives. A spokesman for Trinity Industries indicated the settlement would not result in a charge to first quarter earnings because amounts involved were well within the range of amounts previously reserved.

Florida Marine Transportation Inc., New Orleans, La. filed the charges in Louisiana State Court claiming the coating material inside the barge hull voids was a food source for bacteria that was causing the premature deterioration of the steel. There has been no reported problem with the tank holding the petroleum. The barge company said they had taken three of the 18 barges out of service due to the corrosion problem and they were working with the U.S. Coast Guard inspection department in New Orleans to investigate the problem. "We are working with the Coast Guard and the preeminent scientist in the country on this problem", said Jason Belcher, Florida Marine president. "We think this is an industry problem that will impact other carriers", Belcher added.

At its Annual Meeting held October 1 in Houston, the Board of Directors of Waterways Council, Inc. (WCI) elected the following officers and Executive Committee members for 2007-2008: Dan Mecklenborg, Senior Vice President, HR & Chief Legal Officer, Ingram Barge Company, Chairman; R. Barry Palmer, WCI, President and CEO; Steve Little, President and CEO, Crounse Corporation, General Counsel; Peter Stephaich, Chairman, Campbell Transportation Co., Secretary; Cherrie Felder, Vice President, Channel Shipyard, Treasurer. H. Merritt Lane III, President and Chief Executive Officer, Canal Barge Company; Peter Lilly, Chief Operating Officer--Coal, CONSOL Energy Inc., and Rick Calhoun, President, Cargo Carriers, were named as Vice-Chairmen.

Trinity Marine Products has reached a long-term agreement to provide barges to Ingram Barge Company, the leading carrier on America's inland waterways. The contract calls for the construction of dry cargo units for a number of years. The terms were not disclosed except that the agreement protects Trinity with cost escalation coverage.

Conoco, Inc's Domestic Marine Division, Houston, Texas has taken delivery of the first of four 75-ft. by 30-ft. by 10-ft. towboats that feature design, safety and environmental improvements over existing vessels working the inland waterways and the ICWW. Conoco, Inc., merged with Phillip Petroleum Company on August 30, 2002 to form ConocoPhillips a company with $75 billion in assets. The Conoco Marine Division has seven towboats and 14 barges. These 2,000 hp twin-screw vessels are being built by Orange Shipbuilding, Orange, Texas, a division of Conrad Industries of Morgan City, La. and will replace older vessels. "We are raising the bar for towboat design…

Trinity Marine Products held a barge launching ceremony on February 14 at its Madisonville, La., barge-building facility. This Barge Launch marks the completion of the first tank barge manufactured by Trinity Marine Products for Marathon Ashland Petroleum, LLC, as part of a new 5-year contract between the 2 companies. will be on hand for the event. Trinity Marine Products signed a 5-year contract with Marathon Ashland Petroleum in July 2002. Six barges will be completed in 2003, with an option to manufacture nine additional tank barges by 2006. Marathon will use the barges for transporting refined petroleum products. Paul Mauer, president Trinity Marine Products, stated, "It is with great pride that we launch this barge for Marathon Ashland Petroleum.

Kirby Corporation has signed a contract with Trinity Industries, Inc. for the construction of 16 double-hull, 30,000 barrel capacity, inland black oil tank barges. Kirby plans to take delivery of seven of the tank barges in 2003 and nine in the first half of 2004. The total purchase price of the 16 barges is approximately $29 million, with an estimated $12.6 million to be expended in 2003 and $16.4 million in 2004. Under the terms of the contract, Kirby has an option for the construction of 16 additional 30,000 barrel capacity black oil tank barges. In October 2002, Kirby entered into a barge management agreement with Coastal Towing, Inc. ("Coastal") to manage 54 black oil tank barges owned by Coastal, along with the 66 barges Kirby operates in its black oil fleet.

Trinity Marine Products held a barge launching ceremony recently at its Madisonville, La., barge-building facility. The barge launch marks the completion of the first tank barge manufactured by Trinity Marine Products for Marathon Ashland Petroleum, LLC, as part of a new five-year contract between the companies. Trinity Marine Products signed a five-year contract with Marathon Ashland Petroleum in July 2002. Six barges will be completed in 2003, with an option to manufacture nine additional tank barges by 2006. Marathon will use the barges for transporting refined petroleum products. Paul Mauer, president Trinity Marine Products, said, "It is with great pride that we launch this barge for Marathon Ashland Petroleum.