Marine Transportation Subsidiary News

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced its 2014 board of trustees. Consisting of 117members, the Coast Guard Foundation Board of Trustees and Directors oversees management of the organization and helps to provide resources to advance the Foundation’s mission to support the service of men and women in the United States Coast Guard. This year, the board welcomes three newly elected officers and four new members to its executive committee, as well as three new board members. Robert J.

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.

PDV Marina, S.A. (PDVM), the marine transportation subsidiary of Petroleos de Venezuela, S.A. (PDVSA), the Venezuelan state oil company, and Overseas Shipholding Group, Inc. announced that Phoenix Energy Navigation SA (Phoenix) has joined the Aframax International Pool. Phoenix has contributed two double-hulled Aframax tankers to the pool (the Phoenix Alpha and the Phoenix Beta both built in 2003), expanding the number of vessels in the Pool to 34, including committed newbuildings.

Seabulk International, Inc. announced the extension of time charters with Tesoro Maritime Company on two of its U.S.- flag double-hull tankers through July 2010. began her original Tesoro charter in the summer of 2000, followed by her sister ship, the Seabulk Pride, in the summer of 2001. operated by Tesoro in Nikiski, Alaska on Cook Inlet; Anacortes, Washington on the Puget Sound, and at Kapolei, Hawaii. safety and environmental protection in sensitive Pacific coastal waters. Gerhard E. Kurz, chairman, president and chief executive officer of parent company Seabulk International, added, "These contract extensions are part of strategy of ensuring a reliable long-term source of future earnings.