Link to Somales christening article

For those of you who did not see my story in the Waterways Journal about the christening of the Michael T. Somales last month, here's the link.

AEP River Operations earnings report (UPDATED)

American Electric Power released its second-quarter financial results this morning.

The report lists net earnings by business segment, including its River Operations division.

"Operating earnings from AEP River Operations for second-quarter 2015 decreased $2 million compared with the same period in 2014, primarily due to lower freight revenue resulting from operating restrictions because of high water," the earnings release said.

River Operations earned $1 million in the quarter, down from $3 million a year ago. Earnings for the first two quarters totaled $12 million, up from $6 million last year.

More on this later.

# # #

Today, after the earnings release, AEP filed a quarterly earnings report document with the Securities and Exchange Commission. The document included this paragraph about the status of the possible sale of the River Operations division.

AEP is evaluating strategic alternatives for its non-regulated AEP River Operations segment, which primarily includes commercial barging operations that transport liquids, coal and dry bulk commodities primarily on the Ohio, Illinois and lower Mississippi rivers.  Potential alternatives may include, but are not limited to, continued ownership or a sale of the non-regulated river operations.  We have not made a decision regarding the potential alternatives, nor have we set a specific time frame for a decision.  We do not expect to incur a loss related to a potential sale transaction.

A footnote in a section with the header

Reconciliation of Second Quarter of 2014 to Second Quarter of 2015

Earnings Attributable to AEP Common Shareholders from Vertically Integrated Utilities

has this:

Other Revenues decreased $5 million primarily due to a decrease in River Transportation Division (RTD) barging resulting from reduced deliveries to the Rockport Plant. This decrease in RTD revenue has a corresponding decrease in Other Operation and Maintenance expenses for barging as discussed below.

 

There is also this on Page 32

 

Reconciliation of Second Quarter of 2014 to Second Quarter of 2015

Earnings Attributable to AEP Common Shareholders from Vertically Integrated Utilities

 

AEP RIVER OPERATIONS

Second Quarter of 2015 Compared to Second Quarter of 2014

Earnings Attributable to AEP Common Shareholders from our AEP River Operations segment decreased from $3 million in 2014 to $1 million in 2015 primarily due to lower freight revenue compared to second quarter 2014 resulting from various high water operating restrictions during the quarter.

Six Months Ended June 30, 2015 Compared to Six Months Ended June 30, 2014

Earnings Attributable to AEP Common Shareholders from our AEP River Operations segment increased from $6 million in 2014 to $12 million in 2015 primarily due to lower fuel prices and reduced consumption, partially offset by lower freight revenue.

 

There is more if you want to see it. If so, click here.

Black and White Week, Day 5: Bridges

Bridges are better subjects for black and white than boats because they have a more timeless quality to them. There's a difference between the Kentucky and the Fred Way in black and white, but there's less difference between the Blennerhassett Bridge and the Simon Kenton Memorial Bridge. To me, at least.

So here are five bridges in black and white.

First, the Blennerhassett Island Bridge. It's one of my favorites because it's the only network tied arch bridge over the Ohio. The down side is that there are few places on public property on land to get a good view. If I ever get out on the river again in the Parkersburg area, I'm burning through a memory card getting shots of this one.

Then there's the aforementioned Simon Kenton Bridge at Maysville, Ky., one of the few true suspension bridges over the Ohio.

This view of the Silver Memorial Bridge makes the day look more somber than it really was.

I turned my head about 90 degrees and got this bridge over the Kanawha River near its mouth.

And a little further up the M/V Reliant was taking two barges it had picked up on the Ohio to a point somewhere on the Kanawha. That's a CSX railroad bridge. It's part of the old B&O line along the Ohio River.

Next: Looking at some older pictures. Saturday: Wrapping it up with the Real Thing™.