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.
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
Vigor Industrial expands its newbuild capacity in Washington; Tacoma yard delivers three breasting barges Fabrication teams at Vigor Industrial’s Tacoma, Wash. shipyard have delivered three 60’ x 24’ x 15.5’ breasting barges to Foss Maritime. The barge system will be used to moor Shell’s drill rigs at Terminal 5 in Seattle, Wash. where the company is scheduled to ready its fleet for Arctic drilling this summer.
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
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
The new restructured SMILE Service synergizes Shipping Corporation of India’s (SCI) Services with Shreyas’s Services and seamlessly links up Persian Gulf with East Coast of India and West Coast of India, thereby, further strengthening and expanding SCI’s presence in the Coastal Shipping Sector. The working together of two Lines, i.e., The SCI and Shreyas, on this route will be a force multiplier for SCI which will provide a high quality of Coastal Services on fixed day
The ITB Marine Group Ltd. (ITB) is currently well into construction of the first of two, twin Z-drive, ATB pusher tugs for service on the West Coast of North America. The tugs are being built at their Annacis Island Shipyard near Vancouver. The tugs will be connected by an articulating pin system to the existing double-hulled oil barges ITB Reliant and ITB Resolution which will receive retrofitted pin ladders and stern extensions for connecting to the new tugs.
Jamaica launched its bid to be elected to Category ‘C’ of the International Maritime Organization (IMO) Council last Thursday (2 February) - in a move to position Jamaica as a ‘viable maritime hub’. Addressing specially invited guests
ELA Container Offshore GmbH said it has delivered two offshore living quarters to Belgium based G-Tec Offshore s.a. The containers were placed on board of the multipurpose drilling vessel MV Omalius off the coast of France. The solution on deck turned out to be very successful as the units
In the last 24 hours, the Coast Guard has identified two tour boats operating illegally out of Pohoiki Boat Ramp and is ramping up enforcement in response to a perceived increase in illegal charters operating in the area to view lava streaming into the ocean from Hawaii's Kilauea volcano.
"K" Line (India) Shipping Private Ltd (KLISP), affiliated company of Kawasaki Kisen Kaisha Ltd., joined Indian National Shipowner's Association(INSA) at the end of January 2017. KLISP was established in 2014 and actively participates in Indian Coastal Trade as well as
A research team led by University of South Florida College of Marine Science professor Dr. Steven Murawski has been awarded a $1 million grant to explore how oil spills, such as the Deepwater Horizon (DWH) in 2010, impact the economic, ecological and social system aspects of fishing communities
In order to support the Indian shipping industry, the Government of India has exempted Customs and Excise Duty leviable on bunker fuels used in Indian flag vessels for transportation of mix of EXIM, domestic and empty containers between two or more ports in India.
India has one of the largest merchant shipping fleet and ranked 17th among the developing countries with average age of the fleet being 18.03 years. 95% of the country’s trade by volume (68% in terms of value) is moved by sea.
Sagarmala Programme, an ambitious port-led infrastructure development programme of the government to harness India’s 7,500-km, is now moving from the conceptualization and planning to the implementation stage. The National Perspective Plan (NPP)
Coastal shipping provides benefit in the form of less environmental pollution due to lower per km consumption of fuel. However, unavailability of consolidated cargo, return cargo and general lack of awareness among shipper community make coastal shipping unviable.
Mumbai and Nhava Sheva Ship Agents Association (MANSA) has requested the Mumbai Port Trust to re-consider the proposed bank guarantee amount levied on vessels calling at the port. In a letter addressed to the Mumbai Port Trust, MANSA said
TFI International Inc., formerly known as TransForce Inc., a North American leader in the transportation and logistics industry, has announced that a wholly-owned subsidiary of TFI International has acquired Brampton, Ontario based National Fast Freight (NFF) from Calyx Transportation Group
Cuba and the United States agreed on Monday to jointly prevent, contain and clean up oil and other toxic spills in the Gulf of Mexico, as they rush to conclude deals before President-elect Donald Trump takes office. U.S. Charge d'Affaires Jeffrey DeLaurentis, upon signing the agreement
India's Shipping Minister of State Mansukh Mandaviya inaugurated the state- of -the -art exhibition display of Sagarmala, Ministry of Shipping at Vibrant Gujarat Global Investors Summit, 2017, yesterday (Jan 11). Gujarat has been at the forefront of the maritime
Commissioner William P. Doyle Votes to reject joint contracting authority for Ro/Ro foreign carriers to negotiate collectively for U.S.-Flag tug services. Doyle's Statement, shown below, says new rules go beyond the scope of the Shipping Act and shipping practices harmful to U.S
The developers of TZ Coastal Monitoring are calling the product “the first true turnkey solution for maritime surveillance.” According to marine navigation software firm Nobeltec, part of FURUNO Group, its new TZ Coastal Monitoring ready-made packages provide the