marine transportation

Kirby Corporation reports increased earnings

America’s largest tank barge operator, Houston-headquartered Kirby Corporation (NYSE: KEX), has reported net earnings for the quarter ended September 30, 2023 of $63.0 million or $1.05 per share. That’s up on its earnings of $39.1 million or $0.65 per share for the 2022 third quarter. Consolidated revenues for the 2023 third quarter were $764.8 million compared with $745.8 million reported for the 2022 third quarter.

These figures were slightly below analysts expectations, and Zacks Equity...

https://www.marinelog.com/inland-coastal/kirby-corporation-reports-increased-earnings/

Marine industries’ contribution to US economy swells

The United States’ marine economy contributed about $373 billion to the nation’s gross domestic product in 2018 and grew faster than the nation’s economy as a whole, according to statistics released Tuesday.

The statistics come from research conducted by two U.S. Department of Commerce agencies — the National Oceanic and Atmospheric Administration (NOAA) and the Bureau of Economic Analysis (BEA) — on 10 sectors representing businesses dependent on the nation’s oceans, coasts and Great Lakes...

https://s29755.pcdn.co/news/marine-industries-contribution-to-us-economy-swells

Kirby reports strong third-quarter earnings

Photo by David Krapf

The end of record-breaking floods in August returned operations back to normal on the inland rivers and helped increase profitability at Kirby Corp., the nation’s largest tank barge operator, which posted strong third-quarter results.

In its third-quarter earnings release Friday, the Houston-based operator cited several factors for the positive financial report: favorable summer weather, receding floodwaters that produced fewer barging delays, cuts in its manufacturing workforce due to a...

https://www.workboat.com/news/coastal-inland-waterways/kirby-reports-strong-third-quarter-earnings/

Report recommends more disaster ‘resilience’ for U.S. ports

The drillship Paragon DPDS1 grounded in the Port Aransas Channel during Hurricane Harvey. U.S. Coast Guard photo

The triple disasters of the 2017 hurricane season affected 45 U.S. ports, wreaking havoc but also leaving valuable lessons in how to better prepare for – and recover from – future storms, according to a report by federal maritime transportation experts.

“Over the course of the 2017 hurricane season, Hurricanes Harvey, Irma, and Maria affected the operating status of at least 45 ports throughout the lower continental United States and U.S. Caribbean territories,” the report states. “The scale and...

https://www.workboat.com/news/government/report-recommends-more-disaster-resilience-for-u-s-ports/