Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Kirby Corporation    KEX

Delayed Quote. Delayed  - 10/21 10:02:01 pm
60.16 USD   -0.46%
10/21KIRBY CORPORATI : quaterly earnings release
10/19 KIRBY : Some diesel fuel safely pumped from sunken tug on B.C. centr..
10/18 KIRBY : Race to drain diesel fuel from sunken tug underway off B.C. ..
News SummaryMost relevantAll newsSector news 

Kirby Corporation : Announces Purchase of Three Coastwise Tank Barge and Tug Units

share with twitter share with LinkedIn share with facebook
share via e-mail
12/15/2011 | 11:35pm CEST

HOUSTON, Dec. 15, 2011 /PRNewswire/ -- Kirby Corporation ("Kirby") (NYSE: KEX) today 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.

Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "The purchase of Seaboats' coastwise fleet consisting of three 80,000 barrel tank barge units furthers our objective of growing our offshore tank barge fleet. The three tank barges are sister barges, built to the same design as our four 80,000 barrel tank barges and will expand our fleet capacity, service capabilities to our customers and provide additional flexibility."

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. Kirby transports petrochemicals, black oil products, refined petroleum products and agricultural chemicals by tank barge. Through the diesel engine services segment, Kirby provides after-market service for medium-speed and high-speed diesel engines and reduction gears used in marine and power generation applications. Kirby also distributes and services high-speed diesel engines, transmissions, pumps, compression products, and manufactures oilfield service equipment, including hydraulic fracturing equipment, for land-based pressure pumping and oilfield service markets.

Statements contained in this press release with respect to the future are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competition, unanticipated additions to industry capacity, changes in the Jones Act or in U.S. maritime policy and practice, fuel costs, interest rates, weather conditions, and timing, magnitude and number of acquisitions made by Kirby. Forward-looking statements are based on currently available information and Kirby assumes no obligation to update any such statements. A list of additional risk factors can be found in Kirby's annual report on Form 10-K for the year ended December 31, 2010 and quarterly report on Form 10-Q for the period ended September 30, 2011 filed with the Securities and Exchange Commission.

SOURCE Kirby Corporation

share with twitter share with LinkedIn share with facebook
share via e-mail
10/21KIRBY CORPORATION : quaterly earnings release
10/19 KIRBY : Some diesel fuel safely pumped from sunken tug on B.C. central coast
10/18 KIRBY : Race to drain diesel fuel from sunken tug underway off B.C. coast
10/04 KIRBY CORPORATION : To Announce 2016 Third Quarter Results On October 26, 2016 W..
10/04 KIRBY : to Announce 2016 Third Quarter Results on October 26, 2016
09/21 KIRBY : Research Reports Initiation on Shipping Stocks -- Teekay Tankers, Top Sh..
08/25 KIRBY : to Attend 2016 RBC Industrials Conference
08/25 KIRBY CORPORATION : to Attend 2016 RBC Global Industrials Conference
08/08 KIRBY : Management's Discussion and Analysis of Financial Condition and Results ..
08/04 KIRBY CORPORATION : Announces 2016 Second Quarter Results
More news
Sector news : Inland Water Freight
10/13DJHanjin Shipping's Asia-U.S. Route Assets to Be Put on Sale
10/05DJCosco, China Shipping to Merge Shipbuilding Arms
10/04DJToday's Top Supply Chain and Logistics News From WSJ
10/04DJHopes Dim Maersk Will Buy Korean Firms -- WSJ
10/03DJMaersk Unlikely to Buy Troubled Korean Container Ship Operators
More sector news : Inland Water Freight
News from SeekingAlpha
09/13 Jerry Jones, Mrs. Jones, And The Jones Act
09/11 Hanjin collapse lifts short-term shipping rates
09/09 Hanjin funding plan faces further delay
07/28 Kirby's (KEX) CEO David Grzebinski on Q2 2016 Results - Earnings Call Transcr..
07/27 Kirby beats by $0.02, misses on revenue