Metro-East News

Business Briefing: Delta Queen to operate near St. Louis

A touring riverboat has announced that it will move its corporate headquarters near St. Louis.

The Delta Queen Steamboat Co. will be moving to Kimmswick, Mo., which has also been selected as the new home port for the Delta Queen riverboat. The move means 170 new jobs to the region and an estimated $36.4 million impact to the region’s economy.

The Delta Queen will visit more than 80 ports, including those in New Orleans, Little Rock, Memphis, Nashville, Cincinnati, Pittsburgh and St. Paul, Minn.

The riverboat dates back to 1927, when it began as an overnight passenger vessel carrying passengers, cargo and automobiles between Sacramento, Calif. and San Francisco. The ship then served the U.S. Navy during World War II. Then, it was sold as war surplus to Tom Greene, owner of the Greene Line Steamers of Cincinnati. From 1946 to 2008, the Delta Queen operated as an overnight cruising riverboat and had operated as a dockside hotel in Chattanooga, Tenn. from 2009 until 2014.

U.S. oil production is booming as the benchmark price of oil has plunged from over $100 last year to about $45 this week. Global oil demand has grown but is still not enough to absorb the high supply. Learn more here.

Kroger Co. has reported a fiscal second-quarter net income of $433 million, which exceeded Wall Street expectations. The Cincinnati-based supermarket chain also posted revenue of $25.54 billion in the period, which just missed analysts forecasts of $25.59 billion. Read more here.

One of the nation’s renowned tourist attractions is adding more amenities. The Grand Canyon will soon renovate lodges and provide mobile food trucks and a possibly a valet service at its South Rim, under a new 15-year concessions contract. Find out more here.

-Will Buss, BND business writer