Marine Link
Thursday, September 29, 2016

Kirby 1Q Net Flies High

May 5, 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 Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News