By the Numbers: Barge Transportation Market
Barge transportation comprises an extensive network, ideal for carrying seaborne cargo to inland destinations and exports alike. Responsible, in part, for the worldwide trade of bulk transport, the industry is of great significance to the agricultural sector. In North America, The Army Corps of Engineers maintains and operates over 12,000 miles of canals, rivers, and inland waterways. The Illinois Waterway and Mississippi River are the major waterways in the region that are responsible for moving agricultural and farm products through barges.
India: The Admiralty Bill 2017 Gets Upper House Nod
Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill, 2017, introduced during the Winter Session of Indian Parliament came up for discussion in the Rajya Sabha (Upper House) and was passed unanimously by the house. The Bill aims to establish a legal framework for consolidation of related laws to replace the age old archaic laws with modern Indian legislation and to confer admiralty jurisdiction on all High Courts of the coastal states of the country. The bill was earlier passed by the Lok Sabha in March, 2017. The Minister of State for Shipping and Road Transport and Highways, and Chemical & Fertilizers Shri Mansukh Mandaviya…
DNV GL: Beyond Condition Monitoring in the Maritime Industry
Moving from a regime of scheduled rule-based maintenance to a data-driven risk-based regime can lead to more accurate and timely maintenance resulting in increased safety, lower costs and greater availability of ship systems. A new report “Beyond condition monitoring in the maritime industry”, from classification society DNV GL’s Research and Innovation division, looks at the state of the art in condition monitoring for predictive maintenance and the potential benefits of introducing new maintenance strategies into the shipping industry.
Aries Maritime Provides Update on the Ostria
Aries Maritime Transport Limited announced the Ostria, a 2000-built products tanker, has returned to service effective January 13, 2008 following the completion of previously announced repairs and preventative maintenance works. The vessel is currently deployed in the spot market as the Company explores period charter opportunities. Aries has received an initial payment of approximately $850,000 in respect to its claim under repairs insurance for the Ostria. The initial payment will be recognized in the fourth quarter of 2007. In addition to insurance claims related to vessel repairs, Aries received approximately $1.2m in full settlement of its claim under loss-of-hire insurance, which will also be recognized in the fourth quarter of 2007.
