KEX - Kirby settles claim over 2014 Texas oil spill for $15.3M

Kirby Corp. (KEX +2.1%) has agreed to pay $15.3M in damages and other costs to resolve federal and state pollution claims from a 2014 oil spill that closed the Houston Ship Channel for five days, the Houston Chronicle reports. The spill of ~4K barrels of heavy marine fuel spilled into Galveston Bay when a Kirby towboat attempting to push two 300-ft. oil barges across the Channel collided with an oncoming bulk cargo ship, according to a federal lawsuit. Damages were sought for assessing and remediating 160 miles of Texas shoreline that was fouled by the spill and compensation for the deaths of thousands of fish, marine birds and mammals killed.

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Kirby settles claim over 2014 Texas oil spill for $15.3M