Investors who don't live near major waterways probably never give a thought to the inland barge industry, but Kirby (NYSE:KEX) has built quite a business for itself in this market. Better yet, this company has taken the cash from this lucrative transportation business and reinvested it in growth opportunities, like diesel engine servicing. Although the stock has done exceptionally well this year, investors may want to keep an eye on this name, in the hopes of pouncing on a pullback.
Floating On
Kirby is far and away the largest player in the U.S. barge market, holding more than one-quarter share of the inland market and more than 20% of the harbor/coastal market. In fact, not only is Kirby the only publicly-traded pure play on barge transport, it's difficult to find any publicly-traded companies that are involved in this market at all; Enterprise Products Partners (NYSE:EPD) and Overseas Shipholding (NYSE:OSG) both have very small businesses in these markets.
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