Kirby Inland Marine Transportation/ K-Sea Transportation
Kirby Inland Marine Transportation/ K-Sea Transportation News
Kirby’s Secret Sauce
Another year; another major fleet takeover by Kirby Corporation. But the leader of the inland tank-barge sector is not growing for growth’s sake: a deeper look at the numbers shows a disciplined strategy at work.“Kirby is definitely the big gorilla in the inland barge market,” affirmed Jefferies analyst Randy Giveans. Indeed, Houston-headquartered Kirby Corp has been extremely active buying fleets over the past few years…
Kirby Amends, Restates Credit Agreement
Kirby Corporation has announced that it has entered into an amended and restated credit agreement with a group of banks.The Credit Agreement, among other things…
Kirby Closes Cenac Fleet Acquisition
Kirby Corporation announced the completion of the acquisition of the marine transportation fleet of Cenac Marine Services, LLC, an operator of tank barges and towboats participating in the inland tank barge transportation industry in the United States. The total value of the transaction was approximately $244 million and was financed with additional borrowings. Cenac’s fleet consists of 63 30,000-barrel inland tank barges with approximately 1.9 million barrels of capacity…
Kirby Announces 2018 Q4/FY18 Results, Deal to Buy Cenac's Marine Fleet
Kirby Corporation announced a net loss attributable to Kirby for the fourth quarter ended December 31, 2018 of ($24.4) million, or ($0.41) per share, compared with earnings of $231.3 million, or $3.87 per share, for the 2017 fourth quarter. Excluding certain one-time charges, 2018 fourth quarter net earnings attributable to Kirby were $44.9 million, or $0.75 per share. Consolidated revenues for the…
