Kirby Boosts Capacity to Meet Demand

Kirby Corporation announced yesterday the signing of an agreement to construct coastal tank barge and tugboat unit (ATB unit) at a cost of $75 to $80 million.

The state-of-the-art 578′ tank barge, to be built by Greenbrier’s Gunderson marine division, will have a 185,000 barrel carrying capacity. Construction on the barge will begin in June 2014, with completion scheduled in 2015.

Joe Pyne, Kirby’s Chairman and Chief Executive Officer, commented, “With the coastal fleet utilization around 90%, increasing demand for the coastwise movements of crude and natural gas condensate, and continued progress in expanding our coastal business to inland customers, new capacity is needed to meet demand. The 185,000 barrel ATB unit has the flexibility to access ports that restrict larger vessels, while still delivering large volumes of product for our customer.”

Upon delivery, the ATB unit will be chartered to a major customer for a four-year period with a one-year extension option.

 

Press Release, January 16, 2014

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Posted on January 16, 2014

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