Kirby continues to expand its inland marine fleet through key acquisitions
In February, Kirby acquired Higman Marine, Inc. for approximately $419 million including 163 inland tank barges with approximately 4.9 million barrels of capacity and 75 inland towboats. Higman’s fleet moved petrochemicals, refined petroleum products, crude oil, natural gas condensate, and black oil on the Mississippi River System and Gulf Intracoastal Waterway.
In May, Kirby acquired Targa Resources Corp’s inland marine tank barge business for approximately $69.3 million. Targa’s inland marine tank barge fleet consisted of 16 pressure barges with a total capacity of approximately 258,000 barrels.
In December, Kirby acquired 27 10,000 barrel inland marine tank barges with a total capacity of approximately 270,000 barrels from CGBM 100, LLC.