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
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.
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
Cruise Lines International Association (CLIA) has approved "Cruise Industry Passenger Bill of Rights" detailing members' commitment to the safety, comfort & care of guests in a number of important areas. The CEOs of CLIA North American member cruise lines are each immediately
To protect the World Heritage-listed Ningaloo Coast in Western Australia’s north-west region, the Australian Maritime Safety Authority (AMSA) to establish an area ships should avoid. A new AMSA Marine Notice will recommend ships keep at least two nautical miles from the edge of Ningaloo
Seaward Services provides bridge officers, including the master and chief engineer, for Builder and Acceptance Trials of the Navy’s Littoral Combat Ship (LCS) and Joint High Speed Vessel (JHSV). USNS Choctaw County, the Navy's second Joint High Speed Vessel (JHSV 2)
Mitsui O.S.K. Lines, Ltd. (MOL) announced the completion of a tabletop drill done in cooperation with the fifth Regional Coast Guard Headquarters. The scenario entailed a containership operated by MOL Liner Division (Hong Kong) and managed by an MOL Group ship management company (Hong Kong)
The U.S. Merchant Marine Academy (USMMA) today announced that Gen. William M. Fraser III, Commander, U.S. Transportation Command (USTRANSCOM), has been chosen as this year's commencement speaker to be held at USMMA on Monday, June 17, 2013.
The European Commission has adopted an Action Plan to revitalise the marine & maritime economy in the Atlantic Ocean Area. The Action Plan aims to show how the EU's Atlantic Member States, their regions and the Commission can help create sustainable growth in coastal regions and drive forward
The Department of the Interior recently announced the release of $475.25 million in emergency disaster relief funding to repair, rebuild and restore impacted areas in the aftermath of Hurricane Sandy. This will also provide investments in scientific data and studies to support recovery in the
18 crew members of the ship were rescued shortly before their vessel sank in the Yangtze River after hitting a bridge pier. Damage was visible on a pier of the Nanjing Yangtze River Bridge in Nanjing, capital of east China's Jiangsu Province after the cargo vessel, loaded with 12
Crowley Maritime Corporation's petroleum services group is entering the Liquefied Natural Gas (LNG) market by acquiring Carib Energy LLC. Florida-based Carib Energy, founded in 2011, was the first company to receive a small scale, 25-year, LNG export license from the U.S
WaveSentry, a Technology Strategy Board funded project backed by a consortium of industry and academic experts, successfully concluded at the end of April with an event to present the key outcomes of the project explore technologies and opportunities for further development of wave measurement and
The U.S. Department of Transportations (DOT) Deputy Maritime Administrator Paul Chip Jaenichen visited the Port of New Orleans to tour the site. The site of planned infrastructure improvements was made possible through a US$16.7 million DOT TIGER (Transportation Investment Generating Economic
The Port of Pittsburgh Commission (PPC) is building an innovative wireless broadband network along the rivers in Pittsburgh and is seeking partners to explore new applications for transportation, safety, security and environmental monitoring, according to James R
Afai Southern Shipyard awarded contracts to build 4 coastal fast rescue vessels for a Chinese Government agency. The contracts were signed between Afai and the Salvage Bureau of Ministry of Transport in the South China port city of Guangzhou.
The FY 2014 President's Budget Request for the National Ocean Service (NOS) amounts to $529.2M. The National Ocean Service (NOS) observes, measures, assesses and manages coastal, ocean and Great Lakes areas and provides science-based services to inform decision making
Bowhead Transport Company, LLC, and Crowley Marine Services, Inc., announced the formation of a joint venture to provide marine services in Alaska’s Arctic. The new Alaska-based joint venture will operate under the name UIC Bowhead-Crowley, LLC