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.
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
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
The government of India will focus more on promoting the coastal tourism circuit and Indian Ocean Rim (IOR) tourism. Dr Mahesh Sharma, India’s Minister of Tourism, Culture & Civil Aviation stressed the importance of developing
Reinauer Transportation Companies, LLC, purchased two GE U.S. Environmental Protection Agency (EPA) Tier 4 certified marine diesel engines and two Lufkin Marine Propulsion Gearboxes for its new articulated tug and barge (ATB), GE Marine announced.
GoFree – the provider of digital content and services, and part of the Navico family of marine electronics brands including Lowrance, Simrad Yachting and B&G – announced today the release of six updated mapping products for use in both inland and coastal U.S. waters
About 50 people have died in the sinking of an overloaded ferry off the coast of western Myanmar police say. Rescuers have been frantically searching for survivors The boat had 209 people on board when it ran into high seas late on Friday on a voyage from the coastal town of
Committee provides advice on agency’s navigation services NOAA administrator Kathryn Sullivan, Ph.D., has appointed six members to the Hydrographic Services Review Panel, a federal advisory committee that gives NOAA independent advice for improving a range of services and products that
Dampier Port Authority has advised that there is a high probability of a tropical cyclone forming by late Wednesday or early Thursday between Indonesia and North West WA. It is possible that this cyclone will affect coastal waters including Dampier by the end of the week.
Developing an economic baseline for recreation and tourism on the Atlantic Coast The United States’ development of offshore wind facilities might severely impact the many regions along the nation’s shores that rely on coastal tourism and recreation as key economic contributors
Three more Immediate Support Vessels (ISV) will be commissioned into the Western Naval Command by early next year, taking the total strength to 17. The latest batch of four ISVs - small and fast weaponised speedboat-like vessels - was commissioned a fortnight ago in a ceremony
Royal IHC (IHC) has integrated four of its business units – IHC Hydrohammer, IHC Handling Systems, IHC Sea Steel and IHC Fundex Equipment – into one new organization, which will operate under the name IHC IQIP. IHC said the merger aims to offer a fully integrated solution for on-
As part of Narendra Modi government plan to promote coastal shipping, India is all set to appoint a consultancy firm to assist the Shipping Ministry. The Press Trust of India quotes the Shipping Ministry document saying that promotion of coastal shipping and inland water
Outer Continental Shelf sand will protect infrastructure, restore dunes and habitat The U.S. Bureau of Ocean Energy Management (BOEM) and Naval Air Station Oceana at Dam Neck, Virginia, expect to begin a shore protection project at the Dam Neck annex within the next month.
Our transportation network consists of different modes like roads, railroads, ship channels and ports. But when it comes to transporting food, building materials, bulk commodities, items used in manufacturing and finished products, each of those modes must be firing on all cylinders and in sync
In a move towards strengthening its defence ties with Bangladesh, India will be exploring new avenues for naval cooperation towards achieving comprehensive maritime security in the Bay of Bengal. To this effect, Indian Chief of Naval Staff Admiral RK Dhowan reached Bangladesh on a
The CMA CGM Group inaugurated its new logistics platform, the 3CTC Terminal (CMA CGM Cameroon Container Terminal), on February 19, 2015. The 3CTC platform has been operational since January 7, 2015, and its concession attributed for 25 years
Severe Tropical Cyclone Marcia is predicted to intensify to a Category 4 system as it crosses the Queensland coast between Mackay and Gladstone early on Friday morning with destructive winds with gusts of up to 270 km/h expected near the core of the system.