Kirby KEX

Kirby Corporation is the nation’s largest domestic tank barge operator, transporting bulk liquid products such as petrochemicals, black oil, refined petroleum products, and agricultural chemicals throughout the Mississippi River System, on the Gulf Intracoastal Waterway, and coastwise along all three United States coasts. Through its marine transportation segment, the company operates tank barges and towing vessels under term and spot contracts, while its distribution and services segment supplies equipment, after market parts, service, and rental solutions for power generation, marine, on highway, oilfield services, and other industrial applications.

The company generates revenue primarily from marine transportation fees charged for moving bulk liquid cargoes, which accounted for the majority of total sales, and from the distribution and services segment through the sale of original equipment manufacturer parts, after market components, equipment remanufacture, custom manufacturing of pressure pumping units and electric fracturing systems, and the rental of generators, industrial compressors, high capacity lift trucks, construction equipment, and refrigeration trailers to a diversified customer base.

The company operates through the following segments: marine transportation and distribution and services.

• Marine transportation: This segment transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals by tank barge throughout the inland and coastal waterways, operating a fleet of 1,105 inland tank barges with 24.5 million barrels of capacity, 28 coastal tank barges with 2.9 million barrels of capacity, and associated towboats and tugboats, providing transportation services under term and spot contracts without taking ownership of the cargo.
• Distribution and services: This segment supplies equipment, after market parts, and service for power generation systems, engines, transmissions, reduction gears, electric motors, drives, and controls, specialized electrical distribution and control systems, and related equipment used in power generation, marine, on highway, oilfield services, and other industrial applications, rents generators, industrial compressors, high capacity lift trucks, construction equipment, and refrigeration trailers, and manufactures and remanufactures pressure pumping units, electric fracturing systems, electric power generation equipment, and specialized electrical distribution and control equipment for data centers, oilfield service, railroad, and other industrial customers.

Kirby Corporation holds a leading position in the U. S. tank barge industry as the largest inland tank barge carrier by both vessel count and capacity, representing approximately 28% of the domestic inland tank barge fleet, and competes primarily with noncaptive tank barge operators, refined product pipelines, railroads, and trucking companies, leveraging cost and environmental advantages of barge transport, a proprietary vessel management system, and a high proportion of long term contracts. In the distribution and services arena, the company is a major authorized distributor for OEM brands such as Caterpillar, Cummins, Detroit Diesel, John Deere, MTU, and Volvo Penta, and provides specialized after market support that differentiates it from independent service providers and other factory-authorized distributors.

The company serves a broad range of customers including petrochemical and refining companies, oil and gas operators, power generation utilities and municipalities, data centers, industrial manufacturers, marine and on highway transportation firms, off highway mining and construction companies, and various governmental agencies, with no single customer accounting for 10% or more of total revenue.