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Joe Pyne News

01 Sep 2015

Joe Pyne Joins DHT Holdings’ Board of Directors

Joe Pyne (Photo: Greg Trauthwein)

Crude oil shipper DHT Holdings, Inc. announced today that it has appointed Joseph H. Pyne to its board of directors, expanding the board from three to four independent directors. Erik Lind, Chairman of DHT said, “We are very pleased to have Joe join the DHT board of directors. His commercial and operational experience and longstanding insight into the U.S. Pyne is the Executive Chairman of Kirby Corporation, a U.S. tank barge operator, and served as the Chief Executive Officer of the company from 1995 to April 29, 2014.

02 May 2014

Kirby Announce Record Earnings in Q1 2014

US tank barge operator and diesel engine service providers, Kirby Corporation, inform that earnings for the first quarter ending March 31, 2014 amounted to $62.2 million, or $1.09 per share, compared with $56.6 million, or $1.00 per share, for the 2013 first quarter. Consolidated revenues for the 2014 first quarter were $589.2 million compared with $558.8 million reported for the 2013 first quarter. Kirby's 2014 first quarter results included a $0.03 per share severance charge and an estimated $0.03 per share combined impact from delays related to winter weather and the costs associated with a collision of a Kirby vessel in the Houston Ship Channel.

18 Mar 2014

Kirby Corp. Order Additional 29 Large Tank Barges

Image courtesy of Kirby Corp.

Kirby Corporation, based in Houston, Texas, the nation's largest domestic tank barge operator, informs it has signed agreements for the construction of 29 additional 30,000 barrel inland tank barges with a total capacity of 830,000 barrels for delivery throughout 2014. Of the 29 inland tank barges, 18 are through the assumption of shipyard construction contracts from another inland tank barge operator and 11 are new orders placed by Kirby. Based on current commitments, steel prices and projected delivery schedules, the cost of the 29 inland tank barges is approximately $81 million.

16 Jan 2014

Kirby to Order New Articulated Tank Barge, Tugboat, Pair

An ATB: Image courtesy of Kirby Corp.

Kirby Corporation says it is to construct an articulated 185,000 barrel tank barge and 10,000 horsepower tugboat unit (ATB unit) at a cost of $75 to $80 million for charter to a customer when completed. Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "With the coastal fleet utilization around 90%, increasing demand for the coastwise movements of crude and natural gas condensate, and continued progress in expanding our coastal business to inland customers, new capacity is needed to meet demand. About Kirby Corp.

18 Oct 2013

Training: Key to Recruiting & Retaining Personnel

Kirby Corporation CEO Joseph H. Pyne

Kirby’s Investment Grows – and Pays off Handsomely. Houston-based Kirby Corporation runs an in-house training center that today instructs 3,000 students yearly in 26 different courses – many of which are U.S. Coast Guard approved. Located in Channelview, the 23-year old, state-of-the-art center is conveniently located in the northeastern curve of the Houston Ship Channel. Last month, MarineNews spoke with Jim Guidry, Kirby’s Senior Vice President of Vessel Operations and a 20-year company veteran, about the center.

27 Sep 2013

Kirby Corp. CEO Joe Pyne is "No Ordinary Joe"

“Companies are successful because you have a bunch of people pulling their oars at the same time. They do the little things more right.  That requires everybody working to make it successful.”

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…

31 Jan 2013

Kirby Announces 4Q & 2012 Year Financials

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.

28 Nov 2012

Kirby to Acquire Barge & Tankship Operator Penn Maritime

Kirby Corporation (Kirby) has signed an agreement to acquire Penn Maritime Inc. (Penn) and Maritime Investments LLC. Penn Maritime is an operator of tank barges and tugboats participating in the coastal transportation of primarily black oil products in the United States. The total value of the transaction is approximately $295 million (before post-closing adjustments and transaction fees) and will consist of cash, Kirby common stock and the retirement of Penn's debt. Penn operates a fleet of 18 heated, double-hulled tank barges, with a capacity of 1.9 million barrels, and 16 tugboats along the East Coast and Gulf Coast of the United States.

27 Sep 2012

Postal Service to Honor Barge Fleeting

U.S. Postal Stamp: "Barge Fleeting," an aerial view of towing vessels.

U.S. Postal Service to dedicate Earthscapes Forver stamps to include "Barge Fleeting," an aerial view of towing vessels. WHAT: The United States Postal Service will dedicate a series of Forever Stamps entitled “Earthscapes,” one which features an aerial view of Kirby Corporation’s Apollo and Enterprise Marine Services LLC’s Taurus commercial tow boats positioning themselves against liquid tank barges in the Old River Barge Fleeting area near the Houston Ship Channel in Texas. WHEN: 2:30 p.m., Monday, October 1, 2012; the event is free and open to the public. WHO: Speakers will be William J.

26 Jul 2012

U.S. Based Kirby Corp. Announce Q12 2012 Results

Kirby Corp. reports continued overall inland tank barge utilization & improved rates as US petrochemical production remained strong. Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "Our second quarter earnings of $.85 per share came in at the high end of our revised $.80 to $.85 per share guidance range. During the second quarter, we experienced overall continued strong inland tank barge utilization and improved rates as United States petrochemical production remained strong. Our coastal transportation results were hindered by higher than anticipated maintenance related costs and further deterioration in the Northeast market.

26 Apr 2012

Kirby Corporation Announce Record Q1 Results

Photo credit Kirby Corporation

Kirby Corporation announced record net earnings attributable to Kirby for the first quarter ended March 31, 2012 of $50.9 million, or $.91 per share, compared with $32.4 million, or $.60 per share, for the 2011 first quarter. Consolidated revenues for the 2012 first quarter were $566.9 million compared with $299.4 million reported for the 2011 first quarter. Kirby's 2012 first quarter results included a $4.2 million before taxes, or $.05 per share, charge associated with increasing the fair value of the United Holdings LLC ("United") contingent earnout liability…

03 Feb 2012

Kirby Announces 2011 4Q & FY Numbers

Kirby Corporation Announces Record 2011 Fourth Quarter and Year Results. Kirby Corporation ("Kirby") (NYSE: KEX) today announced record net earnings attributable to Kirby for the fourth quarter ended December 31, 2011 of $56.2 million, or $1.00 per share, compared with $31.6 million, or $.59 per share, for the 2010 fourth quarter. Consolidated revenues for the 2011 fourth quarter were a record $550.1 million compared with $286.3 million reported for the 2010 fourth quarter. The 2011 fourth quarter results included a $2.7 million before taxes, or $.03 per share, multi-year income tax refund, a $1.25 million before taxes, or $.01 per share…

16 Dec 2011

Kirby Expands With Three New Units

Kirby Corporation Announces Purchase of Three Coastwise Tank Barge and Tug Units; Purchased Seaboats, Inc. coastwise tank barge fleet consisting of three 80,000 barrel tank barge and tug units for $42.3 million in cash. Kirby Corporation has announced the purchase of the coastwise tank barge fleet of Seaboats, Inc. and affiliated companies consisting of three 80,000 barrel coastwise tank barge and tug units for $42.3 million in cash. The three coastwise tank barge and tug units currently operate along the East Coast and have an average age of five years. Financing of the purchase was through Kirby's $250 million revolving credit facility.

20 Sep 2011

Kirby Expects Strong 3Q Earnings

Expected result compares with $.57 per share for the 2010 third quarter, fueled by continued strong inland marine transportation and land-based diesel engine services markets. Kirby to announce 2011 third quarter results on Wednesday, October 26, 2011, with conference call on Thursday, October 27, 2011. Kirby Corporation announced today that it expects its 2011 third quarter net earnings to exceed $.90 per share, above the top end of Kirby's earnings guidance of $.82 to $.87 per share, and substantially above 2010 third quarter earnings of $.57 per share. Kirby will address the 2011 fourth quarter and year guidance when it announces its third quarter results at 5:00 p.m. central time on Wednesday, October 26, followed by its conference call at 10:00 a.m.

28 Jul 2011

Kirby Announces 2Q Results

Kirby Corporation (NYSE: KEX) announced net earnings attributable to Kirby for the second quarter ended June 30, 2011 of $41.7 million, or $.77 per share, compared with $29.3 million, or $.54 per share, for the 2010 second quarter. The 2011 second quarter results included an estimated $.07 per share negative impact from high water and flooding issues throughout the Mississippi River System. Consolidated revenues for the 2011 second quarter were $437.3 million compared with $273.7 million reported for the 2010 second quarter. Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "Our second quarter results reflected continued…

28 Apr 2011

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.

13 Oct 2009

Lawrence Retires as COB Kirby Corp.

Kirby Corporation (NYSE:KEX) announced the retirement of C. Berdon Lawrence, Kirby's Chairman of the Board, effective April 27, 2010, the date of Kirby's 2010 Annual Stockholders and Board of Directors Meetings. Mr. Lawrence has served as Chairman of Kirby since October 1999. He was the founder and former President of Hollywood Marine, Inc., an inland tank barge company acquired by Kirby on October 12, 1999. Lawrence will serve as a consultant to Kirby and will remain on the Kirby Board. Commenting on his retirement from Kirby, Lawrence stated, "Ten years ago on this date, October 12, 1999, we merged Hollywood with Kirby, combining the United States' largest and third largest inland tank barge companies, and by all business and financial measurements, it has been a very successful merger.

31 Jul 2009

Kirby Q2 2009 Results

Kirby Corporation (NYSE:KEX) announced net earnings for the second quarter ended June 30, 2009 of $33.7 million, or $.63 per share, compared with net earnings of $40.3 million, or $.74 per share, for the 2008 second quarter. Kirby's published 2009 second quarter guidance range was $.52 to $.62 per share. Consolidated revenues for the 2009 second quarter were $272.7 million compared with $348.3 million reported for the 2008 second quarter. Joe Pyne, Kirby's President and Chief Executive Officer, commented, "The decline in our marine transportation and diesel engine services demand reflects a difficult economic environment. Our 2009 first quarter actions focused on early retirements, staff reductions, cost reductions and efficiency initiatives.

01 May 2009

Kirby Corp 1Q 2009 Results

Kirby Corporation (NYSE:KEX) announced net earnings for the first quarter ended March 31, 2009 of $28 million, or $.52 per share, compared with net earnings of $36.6 million, or $.68 per share, for the 2008 first quarter. The 2009 first quarter net earnings included a $4 million before taxes, or $.05 per share, charge for early retirements and staff reductions. Kirby's published 2009 first quarter earnings guidance range was $.45 to $.55 per share. Consolidated revenues for the 2009 first quarter were $277.7 million compared with revenues of $330.6 million reported for the 2008 first quarter. Joe Pyne, Kirby's President and Chief Executive Officer commented…

03 Feb 2009

Kirby Corp Record 2008 Results

Kirby Corporation (NYSE:KEX) announced record net earnings for the fourth quarter ended December 31, 2008 of $38.4m, or $.72 per share, compared with net earnings of $34.4m, or $.64 per share, for the 2007 fourth quarter. The 2008 fourth quarter net earnings included a $6m before taxes, or $.07 per share, increase in Kirby's allowance for doubtful accounts. Consolidated revenues for the 2008 fourth quarter were a record $326.7m, an increase of 6% over the $307.9m reported for the 2007 fourth quarter. "While our fourth quarter results mark the 20th consecutive quarter that our net earnings exceeded the same quarter of the previous year…

25 Jun 2008

Kirby Comments on an Announcement

Kirby Corporation commented on a recent public announcement by a major petrochemical customer which plans to temporarily idle or reduce production of some products it manufactures at locations in the and . Kirby anticipates a minimal impact on petrochemical volumes transported for that customer. Kirby also confirmed its 2008 second quarter earnings guidance of $.69 to $.74 per share, a 23% to 32% increase when compared with $.56 per share earned in the 2007 second quarter, and confirmed its 2008 year guidance of $2.74 to $2.89 per share, a 20% to 26% increase compared with $2.29 per share earned in 2007. Joe Pyne, Kirby's President and Chief Executive Officer commented, "Our marine transportation and diesel engine services business levels remain favorable.

15 Sep 2008

Kirby Reports Impact of Hurricane Ike

Kirby Corporation announced that no personnel were injured and no boats or barges suffered any material damage due to Hurricane Ike which struck the upper coast on September 13. " is our most significant operating area and is also home to almost 50 percent of the US Petrochemical facilities. We had 303 barges and 83 tow boats in when Hurricane Ike passed through the area. We are pleased to report that no Kirby personnel were injured and our entire barge and boat fleet was intact with no material damage following the passage of the hurricane. Our operations and our customers' operations will obviously be negatively impacted by delays in reopening the waterways and by damage to plant facilities. Houston but we have been able to work around this issue without disrupting operations.

14 Nov 2008

Kirby Corporation to Present

Kirby Corporation (NYSE:KEX) announced that Joe Pyne, Kirby's President and Chief Executive Officer, will present at the Stephens Inc. Fall Investment Conference on Wednesday, November 19, 2008, at 10:00 a.m. eastern time. The Stephens conference is being held in New York. A live audio webcast of the presentation will be available to the public and a replay will be available after the presentation by visiting Kirby's website at http://www.kirbycorp.com/. A copy of the material prepared by Kirby for the presentation will be available at 8:00 a.m. eastern time on November 19, 2008 on Kirby's website. A replay of the presentation will be available through December 19, 2008 on Kirby's website.