Maritime Partners Agrees to Acquire MG Transport
Maritime Partners, LLC, through its managed funds, has agreed to acquire M/G Transport Holdings LLC, from Auxo Investment Partners LLC and its affiliates. Terms of the transaction were not disclosed, and completion of the acquisition is expected in the third quarter of 2022 subject to customary closing conditions, including receipt of regulatory approvals.Founded in 1968, M/G is a provider of marine transportation services along the West Canal and Lower Mississippi River. Through its fleet of approximately 300 dry cargo barges…
Auxo Investment Partners Acquires Andrie LLC
Deal builds on Auxo’s December 2017 acquisition of leading dry-bulk transportation and logistics company, M/G Transport Services. Private investment firm Auxo Investment Partners announced today that it is partnering with the Andrie family with an investment in Andrie LLC, a Michigan-based Jones Act bulk transporter of specialty products including liquid asphalt, cement, light oil petroleum products, and calcium chloride throughout the Great Lakes. The deal, terms of which were not disclosed…
Kirby Corporation Announces 2011 First Quarter Results
Houston, Texas (April 27, 2011) – Kirby Corporation (“Kirby”) (NYSE:KEX) today announced net earnings attributable to Kirby for the first quarter ended March 31, 2011 of $32.4 million, or $.60 per share, compared with $24.7 million, or $.46 per share, for the 2010 first quarter. The 2010 first quarter net earnings included a charge for retirements and shore staff reductions of $4.1 million before taxes, or $.05 per share. Kirby’s published 2011 first quarter earnings guidance range was $.56 to $.61 per share.
Brown Water Industry Currently ‘In Transition’
The profitable process of moving products through North America’s vast inland waterways systems is increasingly dependent on vessel owners and operators finding and incorporating new technological means and methods to increase efficiencies. That was a core message at a recent meeting sponsored by the Ship Operations Cooperative Program (SOCP) and held in early March at the Litton-Avondale Shipyard. According to American Waterways Operators’ Ken Wells and others who spoke at the conference, market expansion projections are flat both in terms of materials moved and the overall customer base of shippers. Thus, the onus is squarely on owners and operators to ensure that their fleets are adequately outfitted to save precious time, money and fuel.
Technology, Image Top Inland Agenda
The North American inland marine market is neither technologically archaic nor as environmentally hazardous as many individuals outside of the marine market may think. These two issues dominated a recent meeting sponsored by the Ship Operations Cooperative Program (SOCP) held in early March at the Litton-Avondale Shipyard. The profitable process of moving products through North America's vast inland waterways systems is increasingly dependent on vessel owners and operators finding and incorporating new technological means and methods to increase efficiencies. Speakers from industry leading companies such as Kirby Barge Co.; Ingram Barge Co.…
