A decline in demand for freight transportation leads IBISWorld to update its market report on US Ocean & Coastal Transportation. The transportation sector provides deep-sea, coastal, Great Lakes and St. Lawrence Seaway water transportation. The deep-sea shipping activity includes US flagged vessels and non-US flagged vessels. Marine transportation establishments using the facilities of the St. Lawrence Seaway Authority Commission are considered to use the Great Lakes water transportation system. This industry also includes deep-sea passenger transportation such as cruise ships. The updated report indicates that an overall decline in demand for freight transportation caused nearly all operators to struggle during the recession. However, the overall economic revival will pave the way for industry growth, as demand for waterborne freight shipping, cruise travel and higher fuel prices stimulate revenue. Despite these positive factors, external competition will prove to be an imminent threat. Excerpts from the report: In the five years to 2012, revenue for the Ocean and Coastal Transportation industry is expected to decline at an annualized rate of 2.2% to $28.3 billion. According to IBISWorld analyst Lauren Setar, “The global shipping market struggled during the recession as consumers began to spend less, reducing the trade of goods around the world
Maritime Transport & Logistics Advisors, LLC (MTLA) an industry consulting firm based in Ft. Lauderdale, FL has been engaged by Roadships America, Inc. to provide research and analysis of the U.S. Coastal Transport market, as well as assistance with operational considerations in the final design stages of Roadships’ new generation high speed Ro/Ro vessels. Roadships America, Inc., a Reno, NV company is owned by U.S. and foreign investors.
Coastal Towing, Inc., announced today the consummation of a $28 million senior term loan with the CIT Group/ Equipment Financing, Inc., Heller Financial Leasing, Inc. Pursuant to this transaction, the Company refinanced senior term debt under existing agreements with CIT and Wells Fargo Bank, N.A. In addition, the loan will be used to facilitate Coastal?s barge construction program. Coastal Towing Announces New Corporate Officer
Kirby Corporation agrees to purchase assets of Allied Transportation Company, a subsidiary of Allied Marine Industries, & two affiliated companies. Kirby Corporation, based in Houston, Texas, is the nation's largest domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii.
The U.S. Department of Transportation’s (DOT) Maritime Administration (MARAD) today dedicated the California Green Trade Corridor. The Corridor will help take freight traffic off California’s congested I-580 by offering shippers an option to move cargo along the waterways between the Ports of Oakland, Stockton and Sacramento. The project received a $30 million grant from the Department of Transportation, as well as $5 million from local sources
Record 2014 third quarter earnings per share of $1.34 compared with $1.21 in the 2013 third quarter, which included a $0.08 benefit due to the reduction of the United earnout liability. Kirby Corporation announced record net earnings attributable to Kirby for the third quarter ended September 30, 2014 of $76.7 million, or $1.34 per share, compared with $69.1 million, or $1.21 per share, for the 2013 third quarter, which included a $0
K-Sea Transportation Partners L.P. has completed the acquisition of Smith Maritime, Ltd. of Honolulu, Hawaii and Sirius Maritime, LLC of Seattle, Wash. President and CEO Timothy J. Casey said: “We are very excited about welcoming the Smith and Sirius operating teams to K-Sea. This acquisition immediately increases our barrel-carrying capacity by 770,000 barrels, or 22% of our capacity of 3.5 million barrels at June 30, 2007
As a result of the Maritime Administrator’s designation of New Jersey as an adjacent coastal state, pursuant to 33 USC 1508(a)(2), Atlantic Sea Island Group, LLC, (ASIG) a deepwater port applicant, filed suit against the Maritime Administrator and Secretary of Transportation on February 15, 2008. In addition to filing the suit, the plaintiff also sought a preliminary injunction. ASIG alleged that the Maritime Administrator's designation of New Jersey as an "adjacent
As the new year approaches, NOAA ships and independent contractors are preparing for the nation’s 177th hydrographic surveying season, aiming to collect critically needed ocean and coastal mapping data for 2,525 square nautical miles in high-traffic coastal waters of the continental United States and Alaska. “The science of these surveys underpins the steady flow of commerce and the safety of mariners and coastal communities,” said NOAA Corps Capt. John E
The Hydrographic Services Review Panel (HSRP) is a Federal Advisory Committee to the National Oceanic and Atmospheric Administration (NOAA) that will convene a Public meeting on May 4-6, 2011 in Honolulu, Hawaii. The Panel will meet to present and discuss NOAA’s hydrographic services and matters that affect marine transportation, safe navigation, commercial shipping, ocean and coastal stewardship, coastal and marine spatial planning, recreational boating
Alaska can use an existing British Columbia ferry terminal for several more years if Canada enforces an order blocking so-called "Buy America" purchasing rules from being applied to its reconstruction, a state official said on Tuesday.
CoCo Yachts B.V. inks contract with Xunlong Shenzhen Ferry Company for one Coastal Cruiser 300 Xunlong Shenzhen Ferry Company has ordered a Coastal Cruiser 300 ferry from CoCo Yachts, a Dutch design company specializing in the design of aluminum catamarans.
Training and mentoring of coastguards in Africa, Middle East and South East Asia is essential if coastal nations are to have effective control over their Territorial Waters and Economic Zones, says maritime security company Maritime Asset Security & Training Ltd (MAST).
Winter Storm Juno, which has brought snow and gale force winds to the North East Coast of the United States, is causing severe disruption to shipping across the entire coastline. Inchcape Shipping Services (ISS) advises that with snow accumulation likely to exceed two feet
SC Ports Authority, Lowcountry Open Land Trust, Coastal Conservation League and Southern Environmental Law Center Announce Milestone Agreement for Harbor Deepening Collaboration benefits land conservation efforts along Cooper River Corridor
The Nigerian Ship owners’ Association (NISA) and Turkish Shipowners’ Association (TUSA) has flagged off a working relationship to develop water transportation and ship yards, in the Nigeria maritime sector. The Nigerian Shipowners’ Association (NISA)
Current COO Patrick J. Gallwey to Retire in March After 34 Years. Brandy D. Christian has been named the new Chief Operating Officer of the Port of New Orleans by President and CEO Gary LaGrange, succeeding Patrick J. Gallwey, who will retire March 1 after 34 years with the Port
Port of New Orleans cruise terminals handled more than 1 million cruise passengers in 2014 for the first time in its history. For the 12 months, embarkations and disembarkations totaled 1,014,325, an increase of more than 2.6 percent over 2013, a fourth straight record year for the port.
718-ton absorption tower discharged at Louisiana Ave. wharf Fracht USA/Germany, a global freight forwarder, completed one of the heaviest project cargo lifts in the Port of New Orleans’ history January 12, discharging a 718-ton, 164-foot-long absorption tower from ship-to-barge.
SUNY Maritime’s Cutting Edge Tug & Barge Simulator fills an enormous training hole in the tri-state area. When Morton S. Bouchard, III, maritime and political dignitaries officially opened the Bouchard Transportation Co., Inc. Tug & Barge Simulation Center on the campus of the State
Millions of tons of waste reach the oceans each year, causing the sea to become the planet’s largest garbage depot, as inadequate or nonexistent waste management systems – particularly in coastal and island communities – enable massive patches of marine debris to form around the
Minister of Trade and Industry Monica Mæland and State Secretary for Climate and Environment Lars Andreas Lunde signed a declaration of cooperation with key players in the Norwegian coastal shipping industry today. This declaration aims to ensure that Norway has the world's most
The Coast Guard advises exercising caution on and around the San Francisco Bay coastline and waterfronts, as excessively high tides are expected through mid-week. The National Weather Service has issued a coastal flood statement for a series of King Tides
Vesper Marine has been awarded the contract to provide Virtual Automatic Identification System (AIS) Beacons to mark seven reefs hazardous to shipping in the Bay of Plenty, as well as provide a coastal monitoring capability. The beacons will alert ships’ crews and the local
Eleven individuals and organizations have been named as winners of the 2014 Walter B. Jones Memorial Awards for Excellence in Coastal Ocean Resource Management, an award given by NOAA’sOffice for Coastal Management for exemplary leadership and a commitment to balancing the human use