With the slump in new exploration and development in the offshore oil and gas sector, shipyards along the U.S. Gulf Coast that have traditionally been focused on building and repairing vessels working in the oil patch have moved to diversify their portfolios and sharpened their pencils when it comes to pricing their bids. If you're a vessel operator in need of new equipment this might be the right time to buy. One of those companies is Houston-based Kirby Corporation, which is one of the largest owners of coastal tank barges, with some 69 units in operation. It expects to spend a total of between $230 million and $250 million in capital investment this year.
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