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.
Rocks are being delivered as work by Van Oord starts on the £30m scheme to protect 1,400 properties at Broomhill Sands Coastal Defence Scheme in Kent, informs UK's Environment Agency. The Environment Agency has appointed Team Van Oord to construct the scheme, which will cover 2
In South Africa’s largest local shipbuilding contract Transnet National Ports Authority has ordered nine new Voith Water Tractors (VWT) for use in several ports across the country. This is also the largest order in the history of Voith marine technology.
Roland C. Mower who has helped bring billions of dollars in business investment and supported the creation of thousands of jobs in Texas will be Port San Antonio's next President and CEO. A business veteran who for more than 25 years has led efforts to attract and grow multi-million dollar
Transport Canada informs that the Honourable Lisa Raitt, Minister of Transport, has spoken of the important role Canada's marine ports play in supporting trade and economic growth in a speech to the 56th annual conference of the Association of Canadian Port Authorities
BMT WBM (BMT), a subsidiary of the BMT Group, a leading international maritime design, engineering and risk management consultancy, has partnered with Buckley Vann town planners and the School of Civil Engineering at the University of Queensland to develop a comprehensive climate change adaptation
Yoon Sang-Jick, Minister of Trade, Industry, and Energy (MOTIE) of Korea, held a meeting to check pending issues faced by Korean shipbuilding and offshore plant industry at Seoul Palace Hotel recently. The meeting was intended to examine current status of overseas and home industry and
Artemus Transportation Solutions will be holding its Global Commerce- International Transportation & Trade Shipping 101 Course on September 15-19 in the Seattle-Tacoma area. This is the third time the Shipping 101 course will be hosted by the Marine Exchange of Puget Sound in
As a part of President Obama’s continuing commitment to help coastal communities recover from Hurricane Sandy and promote resilient coastal systems, the Bureau of Ocean Energy Management (BOEM) and the South Carolina Department of Natural Resources signed a two-year cooperative
Last week, the Transportation Security Administration began nationwide implementation of a program that reforms the burdensome process by which mariners and other transportation workers receive required Transportation Worker Identification Credentials (TWIC)
Mitsui O.S.K. Lines, Ltd. (MOL) today announced that the company has earned recognition from the ports of Long Beach and Los Angeles, California, for its efforts to ensure compliance with standards that call for vessels to slow down within 40 nautical miles (nm) of the shore.
Mapped size confirms NOAA forecast for an average-sized hypoxia zone this year. NOAA- and EPA-supported scientists have mapped the Gulf of Mexico dead zone, an area with low oxygen water, measuring 5,052 square miles this summer--approximately the size of the state of Connecticut
VT Halter Marine, Inc., a subsidiary of Vision Technologies Systems, Inc. (VT Systems), today announced new contracts to build two 130-foot Articulated Tug Barge (ATB) tugs for Bouchard Transportation Co., Inc. (Bouchard). Measuring 130 feet by 38 feet by 22 feet, these 6
Congressman John Garamendi (D-CA-03), Ranking Member of the House Transportation and Infrastructure’s Coast Guard and Maritime Transportation Subcommittee, introduced H.R. 5270, the Growing American Shipping Act, which aims to modernize U.S
Morton S. Bouchard III, President and CEO of Bouchard Transportation Co., Inc., today announced the next step in Bouchard Transportation Co., Inc.’s ongoing fleet expansion with the construction of two 6,000-hp ATB tugs. The newbuilds, the M/V Bouchard Boys and the M/V Evening Light
Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability. 2014 third quarter earnings per share guidance range of $1.30 to $1.40 compared with $1