Executives from Colonial Pipeline, which runs the main fuel artery for the U.S. Atlantic Coast, will be questioned by customers and regulators on Wednesday after worsening congestion spawned secondary markets for space on the system, driving up costs for wholesale diesel and gasoline buyers. Refiners, retailers and trading houses have jockeyed to move barrels in an increasingly competitive race for space on the line since a 300,000 barrel per day expansion between 2011 and 2013 failed to ease traffic as shippers increased on the 2.5 million bpd system. Customers including Costco Wholesale Corp complain that so-called line space trading adds business costs, prompting a rare hearing at the Federal Energy Regulatory Commission. "We have very sophisticated customers. Of course they've adapted to the system as it is. They are serving the marketplace," Colonial's Chief Financial Officer David Doudna told Reuters. Competition is so tough that so-called line space - a spot market - has sold for 15 cents or more per gallon. That means the person who buys half of another's 100,000 barrels of allotted space spends $314,999 on top of Colonial's per-barrel rate to move fuels. That could amount to millions of dollars a year in extra costs. Even costlier is a more long-term secondary market that sprung from Colonial's perpetual crowding: shipper history transfers that allow newer players a way to access space allocated to
Royal Caribbean’s Brilliance of the Seas, one of the biggest ships on the seven seas, docked in port at Nauticus, Norfolk for a short time and fueled big business across Hampton Roads. Nearly 3,000 people on-board flooded on the streets of Norfolk. More than 500 tourists took advantage of shore excursions and day trips to Colonial Williamsburg and Jamestown. The cruise ship, which has 860 crew members
Sea Tow Services International Inc., announced the opening of four new franchises: Sea Tow Buzzards Bay (Mass.), Sea Tow Montauk (N.Y.), Sea Tow Lake Eufaula (Ala.) and Sea Tow Lake Lewisville (Tx.). The company also announced the sale and transfer of ownership of three existing franchise areas. Captain Walter Garschagen is the new owner of Sea Tow Central Hudson (N.Y.), Jim and Jan Pulley are the new owners of Sea Tow Table Rock Lake (Mo.), and Capt
Singapore's Neptune Orient Lines (NOL) may be shaping up as a takeover candidate, a report in Bloomberg said. The appeal of the shipping company that helped cement Singapore's status as a global trade hub has increased after it agreed to sell its logistics unit last month for US$1.2 billion to cut debt. Possibility of a sale may help Temasek Holdings Pte, the Singapore state's Sovereign Wealth Fund (SWF) that controls Neptune Orient, bolster returns. The $1
The government of Niger, the world's fourth largest uranium producer, is on the verge of renewing an agreement with French state-controlled nuclear group Areva, the West African nation's mines minister said on Sunday. Niger, one of the world's poorest nations, is pushing to boost revenues from its uranium, but Areva, which dominates the sector in the country, has claimed that increasing royalties would make its operations there unprofitable.
Members of the U.S. Coast Guard Training Center, Cape May, N.J., were treated to a speech on the history of the Lenape Indian tribe during a Native American Heritage event held on base, Nov. 5. Wesley Dunn, vice president of the Museum of Indian Culture, presented interesting facts about the tribe that inhabited the area more than 500 years ago. Additionally, Dunn brought many Lenape artifacts which he displayed for members to examine.
Seabulk International, Inc. announced the appointment of Kenneth M. Rogers as President of its Seabulk Towing subsidiary. He was also elected a corporate Senior Vice President, reporting directly to President and Chief Executive Officer Gerhard E. Kurz. Rogers, 46, joined Seabulk Towing in 2001 as Senior Vice President for Marketing. He will be based in Fort Lauderdale and succeeds William R. Ludt, who is retiring after 23 years with the Company.
Quality Management International, Inc. has developed a two-day training program for professionals in the towing vessel industry. This course for Uninspected Towing Vessels (UTV) focuses on all the current regulations including clauses of the ISM Code relevant for tugs, towboats and barges. By attending this class, towing professionals can get ahead of the curve and be well-prepared for the impending inspections.
The Great Lakes Towing Company and McKeil Marine recently performed a joint assist on the 'CSL Assinboine', a 739-foot laker in Canadian Steamship Company’s fleet. The Great Lakes Towing Company tug North Carolina departed Duluth and met McKeil Marine’s tug Leonard M with the CSL Assiniboine in tow. The North Carolina assisted the laker on the stern while the Leonard M towed the vessel on the bow.
First tow marks unofficial opening to Mississippi River navigation season M/V New Dawn arrived at Lock and Dam 2 near Hastings, Minn. Wednesday morning, marking the unofficial opening of the 2015 shipping season on the Upper Mississippi River, according to the U.S. Army Corps of Engineers (USACE). The USACE St. Paul District recognizes the first tow to arrive at Lock and Dam 2 as the unofficial start of the navigation season because it means all of its locks are accessible to
Crowley Maritime Corp.’s Seattle-based naval architecture and engineering firm, Jensen Maritime, reports it has designed a new tractor tug for Vessel Chartering LLC that features some of the first Tier IV engines meeting higher federal air emissions standards among U.S. tugboats.
The Office of Management and Budget (OMB) completed its review of the draft final rule entitled Inspection of Towing Vessels, also known as "Subchapter M." The document has been returned to the Department of Homeland Security (DHS) and the US Coast Guard for final preparation prior to
The 60-foot fishing boat Paulo Marc was towed by the crew of U.S. Coast Guard Cutter Moray after the fishing vessel became disabled Wednesday about 90 miles east of Portland, Maine. Watchstanders at Sector Northern New England’s command center received notification at
The U.S. Coast Guard medically evacuated a man off of a dredging barge in Lake Erie near Sandusky, Ohio, Wednesday evening. At approximately 5:45 p.m., a good Samaritan called Coast Guard Station Marblehead, Ohio, to report two men on a dredging barge who needed help due to injuries.
March Coast Guard deadline represents milestone for AIS use in U.S. waters From increasing situational awareness and enhancing the safety and security of maritime transportation, to its use in accident investigation, search and rescue, Aids to Navigation and asset monitoring
The Great Lakes Towing Company announces the addition of Nikita Skeeter, a maritime professional with over 25 years of experience in shipbuilding and production management, as General Manager of Great Lakes Shipyard. Skeeter’s management experience includes multiple
Sun, sand and Caribbean ‘joi de vivre’ – Hapag-Lloyd Cruises’ Europa 2 will visit the island of Cuba in the Greater Antilles for the first time on two cruises in October and November 2016. Maiden ports of call are special moments on cruises with Hapag-Lloyd
Eastern Shipbuilding Group, Inc. delivers the escort tug Neptune to Suderman & Young Towing Company and launches the Escort Tug David B to Bay-Houston Towing Co. Eastern Shipbuilding Group, Inc. has delivered the escort tug Neptune (Hull# 237) on March 28, 2016
JonRie Marine Winches has introduced its new Container Master Series of winches, featured on the new Crescent 92-foot ASD Mardi Gras. The new winch was designed with increased braking capability and rope capacity to handle the 8,000 TEU containerships calling on the Port of New Orleans
As the American Waterways Operators (AWO) convenes itsSpring Convention & Annual Membership Meeting today through Thursday in Washington, D.C., at The Mandarin Oriental Hotel, today's "Quote of the Day" comes from AWO's Jennifer Carpenter
Facing continued growth driven by client demand, the Great Lakes Towing Company and Great Lakes Shipyard have together added 20 new employees in Q1 2016 and are looking to hire an additional 50+ employees before the end of Q4 2016. “We’re looking out for the future
The U.S. Coast Guard has finalized an interim rule that requires vessels carrying oil in bulk as cargo to carry discharge removal equipment, install spill prevention coamings and install emergency towing arrangements. The rule, due to take effect May 9, 2016
The U.S. Coast Guard said it is responding to an allision and barge breakaway on the Mississippi River at mile marker 43.7 near Thebes, Ill., Wednesday. Tow vessel Michael G. Morris allided with the Thebes Railroad Bridge at mile marker 43
Hyundai Heavy Industries (HHI) has launched South Korea’s seventh KSS-II 1,800-ton submarine, Hong Beom-do, at its Special & Naval Shipbuilding Division in Ulsan, South Korea. The launching ceremony of the Class 214 diesel-electric air independent propulsion (AIP)
Vietnam's coast guard has seized a Chinese vessel for intruding into its territorial waters, say local media. The ship, carrying more than 100,000 litres of fuel, was stopped near the northern maritime border last week.