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
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
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
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 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
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.
Officials from NOAA, the Jacksonville Marine Transportation Exchange, and the Jacksonville Port Authority officially dedicated a new information system today which will increase safety for ships using the St. Johns River. The system, called Physical Oceanographic Real-Time System (PORTS)
The American Waterways Operators, a 350-member trade association representing the U.S. tugboat, towboat and barge industry, announced today that it joined the SmartWay Transport Partnership, an innovative collaboration between the U.S. Environmental Protection Agency and stakeholders in the
Kenyan police said on Friday they shot and killed two armed men suspected of planning an attack on a ferry in the port city of Mombasa after one of them tried to hurl a grenade at approaching police. Mombasa and the coastal region has been struck by a series of attacks that have killed dozens
A major £36 million coastal defence scheme from Clacton Pier to Holland Haven is to get underway this week. The first phase of works will begin with demolishing the existing concrete and timber groynes from the radar mast to Brighton Road at Holland-on-Sea and removing them in
Crowley Maritime Corporation recently presented U.S. Merchant Marine Academy (USMMA) Midshipman Kevin Berto with the Maritime Security Enhancement Award during the Academy’s award convocation. Berto received the award, which was established by Crowley in 2003
NOAA’s newest output includes a feature on economics. The National Ocean Watch site features facts, charts, story maps and videos. It turns out that our maritime economy – commercial, recreational and everything in between – really matters.
Those MarineNews readers who are not familiar with Bob Kunkel probably should be. That’s because Kunkel, President of Alternative Marine Technologies, previously served as the Federal Chairman of the Short Sea Shipping Cooperative Program under the Maritime Administration and Department of
The Australian Shipowners Association (ASA) informs it has urged the Abbott Government to be careful in its consideration of the Productivity Commission Report into Tasmanian shipping and freight, as there are still concerns about any recommendation to deregulate access to coastal shipping services
Along the way, ATBs gain speed, efficiency, safety – and popularity. Operators of articulated tugs and barges, or ATBs, say they like the maneuverability, weather reliability, stability, speed of these units, and the manner in which the tug pushes the barge
IHC Sealing Solutions has received an important third-party verification from DNV GL, a ship and offshore classification society. This means that the company’s Supreme Ventus and Supreme Athmos seals (that guarantee zero oil emissions) are now compatible with mineral oils that are used
Former UK Prime Minister and local MP Gordon Brown says that he welcomes the Ministry of Defence (MOD) agreement to pay costs of the radium contamination clean up of Dalgety Bay and estimates it will cost 10 million pounds. The pollution resulted from dumping 800 WWll wartime planes with
Rammasun hits eastern Rapu-Rapu island, heads towards Manila; Strongest storm after last year's Haiyan. Thousands evacuated from coastal villages. Thousands of people in the Philippines fled from their homes on Tuesday as the strongest typhoon to hit the country this year made landfall
American Commercial Lines presented Marine Environmental Stewardship Awards on Wednesday, July 16 in Houston, Texas, recognizing 35 customers for safe handling of chemicals, petroleum products and other liquid cargos. The customers recognized by ACL safely handled over two billion gallons of
A change-of-command ceremony will be held Thursday morning, July 24, to see a Coast Guard lieutenant commander and graduate of Houston's Alief Hastings High School, Lt. Cmdr. Steve Morris, take command of Maritime Safety and Security Team (MSST) Galveston
Chesapeake Marine Training Institute (CMTI) says that Norfolk Tug will be among the maritime companies recruiting new talent at its professional mariner job fair August 13, 2014, from 9 a.m. to 3 p.m. at the CMTI campus in Hayes, Va. CMTI adds that Vane Brothers will also be on hand