Thursday, February 20, 2020

Kirby Corporation News

The ATB, tug RONNIE MURPH and barge KIRBY 155-03, departs Fincantieri Bay Shipbuilding in Sturgeon Bay, Wisconsin. (Photo: Fincantieri)

Fincantieri Bay Shipbuilding Delivers Kirby ATB

Fincantieri Bay Shipbuilding delivered an Articulated Tug Barge Unit (ATB) to Kirby Corporation (NYSE: KEX). “This is the third 155,000 barrel ATB it has built for Kirby in the past three years," said Kirby CEO David Grzebinski. "This new Jones Act-compliant ATB unit will allow us to continue our commitment to provide efficient and reliable customer service.”The 8,000-hp, 12-knot tug Ronnie Murph measures 130 x 42 with a 23-ft. depth and a 19-ft. draft.The barge, KIRBY 155-03, is measures 521 x 72 ft., with a depth of 41 ft. and a 155,000-barrel capacity.

A luffing and trolley travel hoist for bagged material used by two vessel loaders at Lake Charles, Louisiana. The hoists are fitted with Dellner SKP service brakes with mounting stands installed between the hoist motors and the reduction gears. The brakes were also manufactured with extra protection to prevent corrosion from sea water.

Dellner Brakes: Serving Inland and Coastal Waterways Markets

Dellner provides a range of clutch and braking products for the inland (brown water) and coastal workboat markets. Dellner products are used in a wide range of workboats including tugs, fishing boats and coast guard vessels. Major customers include US Seafoods, Trident Seafoods, Pesca Azteca, Frabelle Fishing, Western Rivers, ARTCO, Campbell Transportation, Moran Towing, Crowley Maritime, Excell Marine, Hunter Marine, Canal Barge, Andrie, Foss Maritime, Kirby Corporation, Sause Bros and Seaspan.

Kirby Complete Penn Maritime Takeover

Kirby Corporation completes the acquisition of Penn Maritime Inc. & Maritime Investments LLC, US operators of tank barges and tugboats. Penn's fleet, comprised of 18 double-hulled tank barges with a capacity of 1.9 million barrels and 16 tugboats, operates along the East Coast and Gulf Coast of the United States. Penn's tank barge fleet has an average age of approximately 13 years with a product mix that consists primarily of refinery feedstocks, asphalt and crude oil. Penn's customers include major oil companies and refiners…

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…

Kirby Corp. to Acquire Allied Transportation

Kirby Corporation agrees to purchase assets of Allied Transportation Company, a subsidiary of Allied Marine Industries, & two affiliated companies. Kirby Corporation, based in Houston, Texas, is the nation's largest domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. Allied is an operator of offshore barges and tugboats participating in the coastal transportation of petrochemicals…

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 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.