After slashing its position last month, Kirby's former top shareholder Baillie Gifford & Co has dropped the company entirely.

In regulatory filings made on Tuesday, the Scottish asset manager disclosed it had dumped its remaining 3.2m shares in the Houston-based, New York-listed tug and barge operator.

It once owned as much as 12.8% of Kirby, which owns and operates both inland and coastal barges and an oil and gas distribution and services business.