2014 . . . And the Story Continues

By Greg Trauthwein, Editor
Tuesday, June 17, 2014
Greg Trauthwein, Editor & Associate Publisher

Having sat in this seat for more two decades I am sometimes asked if I’m tired of the job and ready to move along. (Thankfully, though, that question has never come from my boss.) Unequivocally the answer is “no.” While the maritime industry is often erroneously labeled as conservative and behind the technological times, it is in fact a vibrant and multi-faceted transport niche, a literal cast of characters with a liberal mix of international, national and local interests, power, innovation, money and greed. It’s like reading a good book that never ends, with ever-evolving plots and story lines.
As this is our Annual Yearbook Edition, it affords me the opportunity to take a broader perspective, identifying the trends that will define your business and our editorial properties in the coming months and years.
It is hardly a surprise at this time that energy, or more specifically the proliferation of shale oil and gas finds across the U.S. and increasingly around the world, will continue to have a profound impact on all things maritime.
The shale gas story is a bit more mature but interesting nonetheless, as the mass quantities of cheap energy is literally changing the country before our eyes, from sparking renewed interest in manufacturing businesses setting up shop here, to the billions in investment in new potential LNG export terminals. To put in perspective the “year of LNG” we spoke last month to Edward Scott, COO of Excelerate Energy, which is a compelling story of how the company – which literally was created to import LNG into the U.S., changed its business model nearly overnight and is positioned to prosper.
On the flip side, the abundance of cheap oil and gas found onshore is starting to have an impact on offshore oil and gas developments, as the oil majors are digesting rapidly rising production and crewing costs and slashing E&P expenditure. Jim McCaul, our long-time editorial sounding board, encapsulates the trend concisely in his Offshore Floating Production report, starting on page 52.
Continuing our “75th Anniversary” series of articles again this month is veteran business journalist Patricia Keefe, who’s story Disasters at Sea starts on page 40. While there are plenty of pictures of broken and sinking ships, the article is not designed to exploit the failures of the industry, but rather to highlight the positive changes that have come about, driven by legislative mandate and technological innovation. While I know “legislation” is a ‘four-letter-word’ in the minds of most ship and boat owners, ship and boat builders, it is arguable that the good legislation has outweighed the bad, and in the end we have an industry which provides to the world the safest, most efficient and environmentally benign means to move cargo from point A to point B.
So there you have it in a nutshell: Energy & Legislation. The story continues with perpetually changing characters and plots.

 

(As published in the June 2014 edition of Maritime Reporter & Engineering News - http://magazines.marinelink.com/Magazines/MaritimeReporter)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Legal

Drug Interception at Red Hook Container Terminal

Approximately 121 pounds of heroin and eight pounds of cocaine were discovered in a shipping container of vegetables that was moving from Ecuador to Miami, Fla.

Royal Caribbean's Revenue up 5.6%

Royal Caribbean Cruises Ltd reported a 5.6 percent rise in quarterly revenue, helped by higher passenger ticket revenue and onboard spending, sending the company's

ICS Criticises 'Prestige’ Judgement by Spanish Court

At a meeting of the International Oil Pollution Compensation Funds (IOPCF) this week, the International Chamber of Shipping (ICS) has strongly criticised the judgement

Energy

India's Highest non-coking coal discharge at Gangavaram Port

Gangavaram Port, the deepest and the most modern port in the country, has created yet another historical milestone record by discharging 1,56,339 metric tons of Non-Coking Coal from the vessel M.

Floating Products Storage in Focus

For much of 2015, talk of floating storage was dominated by speculation that the contango in crude futures might support crude floating storage, says Gibson Tanker Report.

Olympic Subsea Vessel Bags Contract

Olympic Shipping has secured a contract for Olympic Delta, an inspection, maintenance and repair (IMR) vessel, with an international client  to work on a renewable energy project.

LNG

Pressure Steady on LNG Shipping Rates -Drewry

LNG shipowners will have to wait until 2018 for earnings to improve, when the majority of new US plants are expected to come online, according to the latest edition

Samsung Heavy Loses $4.6-bln FLNG Order

South Korea’s shipbuilder Samsung Heavy Industries (SHI), the world’s third-largest shipbuilder,  has received a contract termination for three floating liquefied

AIDAprima Makes Maiden Call at Southampton

AIDA Cruises’ new flagship AIDAprima docked in Britain’s Southampton port for the first time on the morning of April 27, 2016, as part of a four-day short cruise.

News

Italian Ship Rescues 26 Migrants off Libya

An Italian merchant ship rescued 26 migrants off the coast of Libya in rough seas and others were feared missing, the Coast Guard said on Saturday. The Coast

Symphony Sun’ Launched in Leer

On Friday the 29th of April, Nb. 420 was launched in Leer. She was christened ‘Symphony Sun’ and is the fourth vessel in a series of 6 that will be delivered to Symphony Shipping.

ACR to Debut Pathfinder PRO SART at OTC

An important addition to any commercial vessel’s survival gear kit, the Pathfinder PRO SART is introduced by ACR Electronics, Inc. at this year’s OTC. The new search

People in the News

Italian Ship Rescues 26 Migrants off Libya

An Italian merchant ship rescued 26 migrants off the coast of Libya in rough seas and others were feared missing, the Coast Guard said on Saturday. The Coast

ACR to Debut Pathfinder PRO SART at OTC

An important addition to any commercial vessel’s survival gear kit, the Pathfinder PRO SART is introduced by ACR Electronics, Inc. at this year’s OTC. The new search

Great Lakes Inks M.E., N.C. Coastal Protection Project Deals

Great Lakes Announces $55 Million in Subcontract Work in the Middle East and Award of $38 Million for a Domestic Coastal Protection Project Great Lakes Dredge

Offshore Energy

Subsea 7 Profits Dip in Q1

Subsea 7 S.A. announced its financial results for the first quarter ending March 31, 2016, reporting revenues of $746 million, down 37 percent from the prior year period.

Ulstein Verft's First Wind Service Vessel Launched

Shipbuilder Ulstein Verft has launched its first vessel within the renewable energy segment, and also the first with the newly-developed X-STERN hull line design.

Incat Crowther Supplies Crewboat Design, Build Kits

Incat Crowther has been awarded a contract with shipbuilder Astinave EP of Guayaquil, Ecuador for the supply of vessel design services and aluminum component kits for a pair of 22.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1562 sec (6 req/sec)