Kirby Executive Chairman Joseph Pyne to Retire

Houston-based Kirby Corporation has announced the retirement of Joseph Pyne as Executive Chairman after 40 years with the company. Pyne's retirement will be effective April 30, 2018.  Mr. Pyne started his career with Kirby in 1978 and has held numerous executive positions including Chairman of the Board since April 2014, Chairman of the Board and Chief Executive … [Read more...]

Kirby to Acquire Tank Barge Shipping Company Higman Marine for $419 Million

Houston-based Kirby Corporation (NYSE: KEX) on Monday announced it has signed a definitive agreement to acquire inland tank barge shipping company Higman Marine, Inc. and its affiliated companies for approximately $419 million in cash. Houston-based Higman Marine's fleet consists of 159 inland tank barges with 4.8 million barrels of capacity and 75 inland towboats. Its … [Read more...]

Kirby to Pay $5 Million for Houston Ship Channel Oil Spill

Kirby Inland Marine has agreed to pay $4.9 Million in civil penalties to settle claims stemming from a 4,000-barrel oil spill in the Houston Ship Channel after one of its oil barges collided with a cargo ship in March 2014, the U.S. Justice Dept. and Coast Guard announced Tuesday. The company has also agreed to implement a fleet-wide improvement program, which … [Read more...]

Kirby Buys Seacor’s Inland Tank Barge Fleet

Houston-based Kirby Corporation (NYSE: KEX) announced an agreement Wednesday to purchase the inland tank barge fleet of SEACOR Holdings for $88 million in cash. The purchase will consist of 27 inland 30,000 barrel tank barges and 13 inland towboats, plus one 30,000 barrel tank barge and one towboat currently under construction. Also part of the agreement, Kirby will transfer … [Read more...]

U.S. Merchant Shipping Stocks Predicted to Soar

By Jack Kaskey and Naomi Christie Oct. 24 (Bloomberg) -- U.S. marine shipping stocks are poised to see their shares climb 59 percent in the next 12 months, outshining the 35 percent gain on the first day of Alibaba Group Holdings Ltd.’s initial public offering last month. The gain for shippers that ferry crude between U.S. ports and carry liquefied natural gas and dry … [Read more...]