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.
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.
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
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
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
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
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
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
Kirk & Co. were engaged to assess public & stakeholders opinions regarding measures to ameliorate BC Ferries financial operating losses. BC Ferries operates one of the largest integrated marine transportation networks in the world. Despite being comparable in efficiency with the world’s best services, rising costs and declining ridership have created a financial challenge for the corporation. BC Ferries lost more than $16 million in the fiscal year ending March 31, 2012.
Early restoration efforts continue in the Gulf of Mexico: NRD Trustees release Phase lll draft Early Restoration Plan outlining 44 proposed projects estimated at US $627-million. Federal and state Natural Resource Damages (NRD) Trustees have released their Phase III Draft Early Restoration Plan
The U.K. Coastguards has been working through the night as parts of the U.K. have been hit by one of the largest tidal surges in decades. Maritime Rescue Coordination Centres (MRCCs) at Stornoway, Aberdeen, Humber, Holyhead, Liverpool, Thames
The Assembly of the International Maritime Organization (IMO), meeting for its 28th session in London, has adopted key resolutions and amendments relating to the Organization’s mandatory audit scheme, paving the way for the scheme to come into effect by 2016 once amendments to mandatory
ASRC Energy Services Response Operations, LLC, a leading offshore spill response operator in Alaska, and Foss Maritime Company, one of the nation's largest coastal tug and barge operators, have formed a joint venture to together pursue marine services opportunities throughout Alaska
The contract , to be signed shortly, with a value of approximately EUR 140 million comprises the construction and maintenance of a new sandy coastline for 20 years. The project is part of the second national High Water Protection Program.
In a fiercely contested election during the 28th IMO Assembly, Jamaica was successful in securing a seat in the most sought-after Category ‘C’ of the Council of the International Maritime Organization (IMO) for the 2014-2015 biennium.
Stevens Towing of Charleston, South Carolina has sold their U.S flag, twin screw tug “Island Fox” (ex Pt. Brower, Arctic Knight, Arctic Fox) to private foreign buyers. Marcon International, Inc. adds that they acted as broker for the sellers
With new experimental facilities under construction at HR Wallingford, the foundations are in place for another two decades of successful collaboration between HR Wallingford’s Professor Richard Whitehouse and University College London’s Professor Richard Simons.
Royal Boskalis Westminster N.V. (Boskalis) has ordered a new self-propelled megacutter from IHC Merwede. This self-propelled cutter suction dredger, with a total installed power of 23,700 kW and a pump ashore capacity of 15,600 kW, is a replacement investment
The National Freight Advisory Committee yesterday unanimously approved a recommendation to pass legislation that will ensure that the Harbor Maintenance Tax is utilized for its intended purpose - to keep the nation's harbors and channels dredged and maintained at their maximum authorized depth for
Specialist seabed mapping company Osiris Projects has this week launched the fifth vessel in their fleet, the 14m GRP catamaran MV Proteus. Designed to provide an excellent working platform for coastal survey operations, MV Proteus can work up to 60 miles from a safe haven under MCA Category 2 and
The Assembly of the International Maritime Organization (IMO), meeting for its 28th session in London, is expected, amongst other matters, to adopt key resolutions and amendments relating to the Organization’s mandatory audit scheme, paving the way for the scheme to come into effect by 2016
Royal Boskalis Westminster N.V. (Boskalis) has been contracted by Associated British Ports for the capital dredging of the approach channel to the port of Southampton in the United Kingdom. The contract has a value of approximately EUR 35 million and work is due to commence shortly.
Can you imagine the public outcry if our country’s major interstates were not repaved or patched for 50, 60 or 70 years, and at the same time, regulations were introduced that encouraged wildlife to nest and repopulate on the road surface
Some 600 maritime and naval experts are to meet in Cape Town from 25-27 November, 2013, to discuss the price of piracy in Africa and the institutional and technical solutions available during the annual Maritime & Coastal Security Africa conference and exhibition