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.
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.
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
The U.S. Department of Transportation’s Maritime Administration (MARAD) announced it will provide more than $1 million to support the development of two new emission-reducing maritime solutions. The first is a liquefied natural gas (LNG) conversion demonstration project
New Jersey Governor Chris Christie on Friday said his transportation commissioner Jamie Fox would step down by the end of the month to return to the private sector after only a year in the position. Fox was previously a lobbyist with airline company United Continental Holdings Inc
NOAA awards shipbuilding contract to Willard Marine for the construction of three aluminum survey vessels Willard Marine informs it was awarded a contract to provide the National Oceanic and Atmospheric Administration (NOAA) with three aluminum hydrographic survey launch ships (HSLs).
Maritime Administrator Jaenichen, Vice Mayor Lowenthal Host Town-hall style Forum on Beyond Traffic Framework U.S. Maritime Administrator Paul “Chip” Jaenichen and Long Beach Vice Mayor Suja Lowenthal today hosted the third of 11 nationwide regional forums on the Beyond
Union Minister of Shipping, Road Transport & Highways Shri Nitin Gadkari has said that the decline observed in the performance of Major Ports from 2008 to 2014 has reversed and they have shown improvement in their performance in 2015.
One of the most significant global issues over the past 10 years is the vast changes in the Arctic region. The world has again turned its attention to the Arctic, this time mainly because of the climate effects in the Arctic, the economic potential of the region
The Transportation Safety Board of Canada (TSB) is deploying a team of investigators following the girding and sinking of the tug Sea Imp X in the North Arm of the Fraser River, British Columbia. The occurrence took place yesterday at approximately 20:00 PDT.
Maritime activities have become one of the major and accelerating driving forces of this world and the main lever of European economic growth, thanks to the boom of traditional fields such as maritime transportation, fisheries, offshore oil & gas
The Federal Election is an important opportunity to boldly support the marine industry as a means to sustainable Canadian growth. During this election and post-election period, political leaders are urged to build upon Canadian domestic shipping for the Canadian economy and sustainable economic
Vessel operators can now be allowed to bring foreign flagged vessels on the coastal routes as the Indian Government has decided to relax cabotage for special vessels. Special vessels like Roll-On Roll-Off (Ro-Ro), Hybrid Roll-On Roll-Off (Hybrid Ro-Ro)
With just a few months to go, VIKING has all hands on deck to ensure coastal vessel operators don’t risk their ability to sail under the US Coast Guard’s upgraded coastal vessel safety regulations. Marine safety equipment manufacturer and servicing provider VIKING
Seaspan, an association of Canadian companies primarily involved in coastal and deepsea transportation, bunkering, ship repair and shipbuilding services, named three senior leaders to its corporate executive team, the company announced today.
Indian Government is planning to establish low-cost Non-Major Ports along coastline under the Sagarmala project in an effort to boost coastal shipping and reduce wait times. Currently due to the concerns over lack of berthing facilities at Ports ships in India are forced to spend 70
The arrival of Celebrity Cruises' Infinity in San Diego Harbor today officially kicks off cruise season at the Port of San Diego. The 2,170-passenger cruise ship Infinity sailed into San Diego harbor today as part of a nine-night Pacific coastal cruise that begins and ends in San
China Merchants Energy Shipping Co., Ltd (CMES), the dry and wet bulk arm of state conglomerate China Merchants Holdings (International) Company Limited, has set up a wholly owned subsidiary China VLOC Company Limited to operate 400,000 dwt ore carriers in Hong Kong.