Plenty has been written about the significant increases in crude oil production in the U.S. brought about by exploiting unconventional shales like Eagle Ford, Niobrara, and Bakken. Likewise, there has been ample attention given to the increasing production of petrochemicals in the U.S. by virtue of improved access to oil, natural gas, and natural gas liquids.
Kirby (NYSE:KEX) is a lesser-known beneficiary of these trends. The company is easily the largest operator in both the inland barge and coastal barge markets, with more than 23 million barrels of capacity in its fleet. As volumes increase and pipeline capacity becomes more of an issue, Kirby has a rare opportunity to benefit from strong utilization and pricing. Valuation on these...
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