Allied Transportation Company News

Kirby Corporation today announced net earnings attributable to Kirby for the fourth quarter ended December 31, 2012 of $57.9 million, or $1.03 per share, compared with $56.2 million, or $1.00 per share, for the 2011 fourth quarter. Revenues for the 2012 fourth quarter were $512.6 million compared with $550.1 million for the 2011 fourth quarter. Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "Our fourth quarter results benefited from higher demand and favorable pricing in our coastal marine transportation markets, as well as a contribution from our two fourth quarter coastal acquisitions. We were also able to manage through the Mississippi River System's low water issues and Hurricane Sandy with only an estimated $.02 to $.03 per share negative impact.

Kirby Corporation agrees to purchase assets of Allied Transportation Company, a subsidiary of Allied Marine Industries, & two affiliated companies. Kirby Corporation, based in Houston, Texas, is the nation's largest domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. Allied is an operator of offshore barges and tugboats participating in the coastal transportation of petrochemicals, as well as dry sugar products, in the Northeast, Atlantic and Gulf Coast regions of the United States. Customers include major petrochemical companies, most of which are current Kirby customers for inland tank barge services.

Alabama Shipyard has signed a contract to build an articulated tug and barge (ATB) vessel for Allied Transportation Company of Norfolk, Va. Both vessels will be designed and built to ABS classification standards. "This is our third major contract award during the last four months of 2000," said Dick Wells, the yard's president. "The total value of these contracts is greater than $65 million. Alabama Shipyard designed the 129,000-barrel, 450-ft. (137.1 m) barge in compliance with the Oil Pollution Act of 1990 ("OPA 90"), which requires vessels to have a "double-hull" in order to provide greater safeguards to the marine environment. OPA 90 requires most large coastal barges operating in the petroleum and chemical trade to have double hulls by 2005. Measuring 124 ft.

Alabama Shipyard has signed a contract to build an articulated tug and barge (ATB) vessel for Allied Transportation Company of Norfolk, Va. Both vessels will be designed and built to ABS classification standards. "This is our third major contract award during the last four months of 2000," said Dick Wells, the yard's president. "The total value of these contracts is greater than $65 million. Alabama Shipyard designed the 129,000-barrel, 450-ft. (137.1 m) barge in compliance with the Oil Pollution Act of 1990 ("OPA 90"), which requires vessels to have a "double-hull" in order to provide greater safeguards to the marine environment. OPA 90 requires most large coastal barges operating in the petroleum and chemical trade to have double hulls by 2005. Measuring 124 ft.

Alabama Shipyard has signed a contract to build an articulated tug and barge (ATB) vessel for Allied Transportation Company of Norfolk, Va. "This is our third major contract award during the last four months of 2000," noted Alabama Shipyard president Dick Wells. "We have several pending contracts that will help us create a stable workforce here in Mobile," Wells stated. Alabama Shipyard designed the 129,000-bbl, 450-ft. barge in compliance with the OPA 90, which requires vessels to have a double-hull in order to provide greater safeguards to the marine environment. OPA 90 requires most large coastal barges operating in the petroleum and chemical trade to have double hulls by 2005.

The Coast Guard's May 10 proposal to add costly and prescriptive salvage and firefighting provisions to its tank vessel response plan regulations should be overhauled in favor of a simpler and more practical approach, AWO testified at a July 17 public meeting in Philadelphia, Pa. The need for the proposed rule has not been demonstrated. The Oil Pollution Act of 1990 is working well, both on the prevention and the response fronts. Academy of Sciences have acknowledged that spill response has been timely and effective since the passage of OPA 90. "Quite simply, the Coast Guard has failed to demonstrate that this costly proposal is necessary to achieve the pollution prevention objectives of OPA 90," Carpenter said.