Kirby orders ATBs at Bay Shipbuilding

JULY 18, 2014 — Bay Shipbuilding Company (BSC) of Sturgeon Bay, WI, a subsidiary of Fincantieri Marine Group (FMG), has been awarded a contract to build two 155,000-barrel capacity barges and two 6,000 hp tugs for Kirby Corporation (NYSE:KEX).

The vessels are to be operated as Articulated Tug-Barge units and will haul petroleum and chemical products domestically.

The first ATB unit is scheduled for delivery in the Fall of 2016 and the second unit will be delivered in Summer of 2017.

Houston based Kirby, the largest tank barge operator in the U.S., operates several ATB units built by Bay Shipbuilding in the mid-2000s.

"This repeat business from Kirby Corporation is validation of Bay's quality products and positive history in this product range," said Bay Shipbuilding VP and GM, Todd Thayse. "Bay Shipbuilding has built 22 ATB-units over the past 15 years, and is now under contract for several more. The new business from Kirby, combined with our current ATB orders, will further allow BSC to invest in our infrastructure and it strengthens our backlog position."

Bay's parent Fincantieri Marine Group is the U.S. division of Italian shipbuilder Fincantieri.

"The recent capital investment by our parent company, Fincantieri, has transformed our United States shipyards into modern, efficient shipbuilding powerhouses," said FMG President and CEO Francesco Valente. "The result is competitive pricing and a level of quality that is second to none. We intend to aggressively seek new business opportunities that will showcase America's finest master craftsmen."