Kirby Inks Offshore Wind Partnership With Maersk

Kirby Corp KEX signed a commercial agreement to provide barge transportation services for offshore wind towers and turbines to Maersk Supply Service, a subsidiary of A. P. Moller Maersk A/S AMKBY. Deal terms were not disclosed.
Maersk Supply Service has been selected by Empire Offshore Wind, a joint venture between Equinor ASA EQNR and BP plc BP, as the installation contractor for the project off the coast of New York.
Kirby's contract with Maersk represents a 20-year framework agreement, with the Empire Wind projects being the first.
Kirby Offshore Wind will provide the Jones Act compliant feeder barges and tugboats to transport the wind towers and turbines from the South Brooklyn Marine Terminal to a specialized Maersk wind turbine installation vessel.
Kirby plans to invest in two new American Bureau of Shipping classed feeder barge and diesel-electric hybrid tugboat units constructed in U.S. shipyards for a total combined cost of $80 million - $100 million.
Price Action: KEX shares are trading higher by 0.63% at $73.64, and AMKBY lower by 3.33% at $15.25 on the last check Tuesday.