EXHIBIT 11.0

              KIRBY CORPORATION AND CONSOLIDATED SUBSIDIARIES
                                     
                 COMPUTATION OF EARNINGS PER COMMON SHARE



                                                         Three months ended
                                                               March 31,     
                                                        ---------------------
                                                          1999         1998 
                                                        -------       -------
                                                        (in thousands, except
                                                          per share amounts)
                                                                
Net earnings                                            $ 4,001       $ 5,040
                                                         ======        ======
                                                                       
Basic earnings per share:                                              
Weighted average number of common shares outstanding     20,341        24,051
                                                         ======        ======
                                                                       
  Basic earnings per share                              $   .20       $   .21
                                                         ======        ======
                                                                       
Diluted earnings per share:                                            
Weighted average number of common shares outstanding     20,341        24,051
Dilutive shares applicable to stock options                 106           296
                                                         ------        ------
                                                                      
  Shares applicable to diluted earnings                  20,447        24,347
                                                         ======        ======
                                                                       
  Diluted earnings per share                            $   .20       $   .21
                                                         ======        ======