Kirby raises stake in Osprey Line

Kirby raises stake in Osprey Line    Kirby Corp., the Houston-based inland barge and towboat operator, is increasing to two-thirds its interest in Gulf container-on-barge feeder operator Osprey Line. No financial details were disclosed.
   In April 2004, Kirby acquired for $4.2 million a one-third interest in Osprey from Cooper/T. Smith Corp., who retain a one-third interest in the company.
   “The exercise of Kirby’s option to increase its ownership in Osprey Lines allows Kirby to more fully integrate Osprey into Kirby’s marine operation. Cooper/T.Smith’s stevedoring expertise is very complimentary to Kirby’s marine expertise. It is the intention of both Kirby and Cooper/T.Smith to continue to expand Osprey’s service along the U.S. Inland Waterway System between U.S. Coastal ports,” Kirby said in statement.
   In a related development, Christian O’Neil has been promoted to president of Osprey while Mike McQuillan has been promoted to executive vice president.