Sunday, August 26, 2012

Brownsville Marine Products Comments on Barge Fundamentals ($CNRD)

The CEO of Brownsville Marine Products comments on barge industry fundamentals,

"[A] boatyard is building one river barge every two workdays and expects to expand and add more workers next year.
Brownsville Marine Products LLC expects to build 143 barges this year and 165 next year and to top out at 180 barges in 2013 [...]
"Most of our capacity is already booked for the next three years," [...]
The company is 86 percent booked, and its remaining build capacity is being held for customers in the region looking for new barges next year and in 2013, he added.[...]
The business of building barges for use on American inland waterways is doing well in part because barges were retired faster than they were being replaced about a decade ago..."

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