COASTAL TRANSPORTATION

US Ocean & Coastal Shipping Market Report

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

Eight New Coastal RoRos Slated for U.S.

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 Corp. to Acquire Allied Transportation

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 Announces New Refinancing

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

Judge Recognizes MARAD Authority

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 Completes Acquisition of Smith Maritime and Sirius Maritime

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

HSRP to Meet in Honolulu

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

NOAA Finalizes Plans for 2011 Survey Season

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

BC Ferries Financial Losses: Consultation Report Released

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.

George D Lifted From Dock

Gardline’s coastal survey vessel the George D, named after the founder of the company, George Darling was lifted from the dock in Great Yarmouth early Tuesday morning and loaded onto the mighty 7002 tonne MV Pangini for its  transportation to Douala, the largest port and city in Cameroon.  The George D is one of Gardline’s fleet of coastal vessels and was built in 1991. It will be in Cameroon to conduct metocean studies for at least 12 months