EXHIBIT 11.0

                KIRBY CORPORATION AND CONSOLIDATED SUBSIDIARIES
                                       
                   COMPUTATION OF EARNINGS PER COMMON SHARE


                               Three months ended    Six months ended
                                    June 30,             June 30,
                               ------------------   -----------------
                                1995       1994      1995      1994
                               -------    -------   -------   -------
                                 ($ in thousands, except per share
                                             amounts)
                                                                    
                                                  
Net earnings                  $  5,076      3,193     9,885     6,090
                               =======    =======   =======   =======
                                                                     
Shares:                                                              
Weighted average number of                                           
   common shares outstanding    28,073     28,433    28,256    28,408
Common equivalent shares for                                        
   dilutive effect of assumed                                       
   exercise of stock options       304        327       332       336
                               -------    -------   -------   -------
                                28,377     28,760    28,588    28,744
                               =======    =======   =======   =======
                                                                     
Earnings per share of common  $    .18        .11       .35       .21
   stock                        ======    =======    ======    ======