inland

Kirby reports red ink first quarter

Despite taking a one-time tax benefit of $50.8 million from the CARES (Coronavirus Aid, Relief, and Economic Security) Act barge giant Kirby Corporation (NYSE: KEX) reported a net loss of $248.5 for the first quarter ended March 31, 2020, compared with earnings of $44.3 million for the 2019 first quarter. Excluding one-time items in the 2020 first quarter, net earnings were $35.3 million per share. Consolidated revenues for the 2020 first quarter were $643.9 million compared with $744.6 million...

https://www.marinelog.com/coastal/tugs-barges/kirby-reports-red-ink-first-quarter/

Metal Shark Alabama delivers inland towboat to FMT

Metal Shark’s Bayou La Batre, Ala., shipyard has delivered its first newbuild, a 120 foot x 35 foot river towboat for Florida Marine Transporters, Inc. (FMT) of Mandeville, La.

Designed by John W. Gilbert Associates, Inc., the four-decked, welded-steel, USCG Subchapter “M”-compliant Stephanie Pasentine is Louisiana-based Metal Shark’s first-ever steel newbuild and also its first inland towboat.

The vessel’s twin Cat 3512C marine diesel engines deliver 2,011 HP each at 1,600 RPM and turn 100 inch...

https://www.marinelog.com/coastal/inland/metal-shark-alabama-delivers-inland-towboat-to-fmt/

ACBL completes recapitalization

American Commercial Barge Line Holding Corp., as successor to American Commercial Lines Inc., today announced that it has successfully completed its recapitalization and emerged from Chapter 11.

ACBL says it is moving forward as an inland barge transportation leader and continuing to provide customers with safe, reliable and competitive solutions.

It says that with $200 million in new equity capital and having reduced its funded debt by approximately $1 billion, it has a strong financial...

https://www.marinelog.com/coastal/inland/acbl-completes-recapitalization/

American Cruise Lines reports rise in bookings

Guilford, Conn., headquartered American Cruise Lines reports that it is seeing a strong increase in demand across its domestic portfolio of river and coastal cruises. The company cites increased awareness of U.S. cruise options along with guests’ desire to support all-American businesses, as the primary reasons for the increase. Advance bookings for the 2021 season are robust, with next year’s passenger counts currently more than 25% ahead of the same time last year. American has also just...

https://www.marinelog.com/coastal/inland/american-cruise-lines-reports-rise-in-bookings/

Fincantieri awarded $9.6 million USCG maintenance contract

Fincantieri Marine Systems North America (FMSNA) was recently awarded a $9.6 million contract to perform maintenance and repairs to the U.S. Coast Guard’s fleet of inland buoy tenders.

The multi-year contract was awarded by the Coast Guard’s Surface Force Logistics Center in Virginia. The focus of the contract is the maintenance, repair and overhaul of the Isotta Fraschini Motori (IFM) V1312 main diesel engines onboard the 75′ WLIC and 65′ WLR class cutters.

“This award with the U.S. Coast Guard...

https://www.workboat.com/news/shipbuilding/fincantieri-awarded-9-6-million-uscg-maintenance-contract/

Inland waterways development making progress, more to do, WCI official says

WCI wants a permanent change in the IWTF to 75 percent federal and 25 percent trust fund. Ken Hocke photo

The inland waterways are enjoying a healthy infusion of federal support for building and maintaining an aging lock and dam system, but unprecedented Midwest flooding and an ongoing trade war with China are taking a toll on river transportation, the head of the Waterways Council Inc. said on Monday.

As a result of a formula change made by Congress in 2014 to the Inland Waterways Trust Fund (IWTF), which covers the cost of new infrastructure spending on the rivers, more money has become available...

https://www.workboat.com/news/coastal-inland-waterways/inland-waterways-development-making-progress-more-to-do/

Caterpillar Marine Expands Offerings for Inland Waterway Customers with Repair Solutions, Support Programs

Caterpillar Marine now offers bundled repair options, maintenance solutions, remanufactured solutions and performance upgrades for inland waterways customers, providing customizable, comprehensive solutions to help keep vessels on the water longer. From foundational to optimal levels, bundled solutions are customizable repair and overhaul solutions available for specific C18-3600 engines. With every Cat Reman product, customers get maximum value with same as new performance at a...

https://www.workboat.com/press-release/caterpillar-marine-expands-offerings-for-inland-waterway-customers-with-repair-solutions-support-programs/

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