Dry Products News

Kirby Corporation (NYSE: KEX) has announced net earnings attributable to Kirby for the second quarter ended June 30, 2017 of $25.8 million, or $0.48 per share, compared with $38.9 million, or $0.72 per share, for the 2016 second quarter. Second quarter net earnings includes pre-tax expenses of $0.7 million, or approximately $0.01 per share, related to the pending acquisition of Stewart & Stevenson LLC (“S&S”). Consolidated revenues for the 2017 second quarter were $473.3 million compared with $441.6 million reported for the 2016 second quarter.

American Commercial Lines Inc. (ACL) announced new demurrage terms for its portfolio of dry products. Beginning April 1, 2011, the company will standardize demurrage charges for non-grain bulk and non-bulk dry product shipments. Shippers of these product lines will receive five free days (Sundays and holidays excluded) for loading or unloading, after which they will be charged $300 demurrage per day for the next ten days and $400 per day for the following twenty days. After thirty billable demurrage days, a $500 charge will be assessed daily until the barge is released to ACL. These new charges will apply to all contracts executed on or after April 1, 2011.