Transportation Investment News

The Ports of Indiana-Jeffersonville said it has completed $24 million in infrastructure enhancement projects following a $10 million Transportation Investment Generating Economic Recovery (TIGER) grant received in 2015 initiating big changes in Jeffersonville. All projects were completed in 2022.The grant provided partial funding for $24 million in infrastructure enhancements that has added four miles to the port’s existing 11-mile rail network. The projects have enhanced and…

Ingram Marine Group held a re-christening ceremony on August 30 for four towboats that are part of its inland waterways fleet."At Ingram, we name our vessels after Ingram associates and affiliates who have made a huge difference to our business, which makes these events an incredibly special time for all of us," said Orrin Ingram, Chairman of Ingram Barge Company and CEO of Ingram Industries. "I thank the four men being honored for all that they’ve done for Ingram and the marine industry at large…

With less than ten months before the IMO 2020 regulation on sulfur oxide emission goes into effect Jan 1, carriers and shippers alike are facing an 'uncomfortable uncertainty' over its potential effects on costs and freight rates as they enter the 2019-2020 trans-Pacific contracting period.The International Maritime Organization 2020 (IMO 2020) regulation on sulfur oxide emission will translate into an increase in freight rates, said Seabury Maritime, the global maritime and transportation investment & merchant banking and industry advisory firm, in a whitepaper.The IMO 2020 regulation mandates the reduction of sulfur oxide emission…

The global maritime and transportation investment bank and industry advisory Seabury Maritime PFRA (SMPFRA), a division of Seabury Capital Group, announced the appointment of Fernando Lehrer as Executive Director, Head of Marine Services, and Nikos Petrakakos as Vice President, Head of Maritime Environmental Innovation.Lehrer and Petrakakos are joining the SMPFRA’s leadership to further advance the company’s strategy to provide an integrated platform to its clients that delivers an end-to-end solution for their maritime-oriented transportation investment banking and consultancy needs.“Fernando and Nikos are thought leaders and visionaries in applying innovative solutions and technology to the maritime industry…

A Container-on-Barge service intended to be an integral part of the regional intermodal equation is gathering momentum – and customers. Quietly, the Port of New Orleans (NOLA) has marked some important accomplishments in the past two years, across multiple business sectors. For example, in April 2016, NOLA’s Board dedicated a $25 million Mississippi River intermodal terminal, capable of handling 160,000 twenty-foot-equivalent (TEU) units per year by rail. CN Railroad signed a memorandum of understanding (MOU) a year earlier (2015)…

U.S. Transportation Secretary Anthony Fox today announced 40 awards totaling nearly $500 million in funding for the  FY 2016 Transportation Investment Generating Economic Recovery (TIGER) grants. Of the 585 applications submitted totaling $9.3 billion in requests, six awards totaling $61.8 million – or about 12.36 percent of the total funding – are going to commercial seaports or projects that directly aid the efficient movement of goods to and from America’s ports. Port applications totaled 9 percent, or 53, of the total 585 submitted. In his written statement, Sec. Foxx said, “For the eighth year running, TIGER will inject critical infrastructure dollars into communities across the country.

The South Carolina Ports Authority announced plans to pursue a second inland port facility, driven by the success of Inland Port Greer and demand for enhanced efficiency of international container movements between the Port of Charleston and growing markets in South Carolina and North Carolina. "Inland Port Greer is one of SCPA's most successful investments, as the growth of intermodal container volume movement in our state and region requires appropriate facilities in the interior to ground loaded and empty containers and to leverage the efficiency and sustainability of rail transportation," SCPA president and CEO Jim Newsome said. "If it is feasible, an additional inland port will be a great diversification of our logistics footprint.

The Board of Commissioners of the Port of New Orleans joined a host of elected officials and industry partners today to dedicate the Port’s new $25 million Mississippi River Intermodal Terminal. The terminal, made possible by a $16.7 million federal transportation TIGER grant, has a capacity of moving 160,000 twenty-foot-equivalent units (TEUs) per year by rail. “This new terminal provides a highly efficient option for our customers moving cargo via rail,” said Gary LaGrange, Port President and CEO. The Transportation Investment Generating Economic Recovery (TIGER) grant provided about 68 percent of the total funding for the terminal.

U.S. High-ranking government officials, policy influencers, port authority CEOs and senior staff from throughout the Western Hemisphere, along with a host of maritime industry leaders will converge on Washington, D.C., April 4-6, to participate in the 2016 Spring Conference of the American Association of Port Authorities (AAPA) – the unified and recognized voice of seaports in the Americas. Among the conference highlights will be a keynote luncheon address by U.S. Secretary of Transportation Anthony Foxx on April 6…

U.S. U.S. ports and our marine transportation system – and the hardworking men and women behind these operations – are essential drivers of the American economy. Every day, our ports and waterways handle millions of tons of domestic and international cargo, including food and agricultural products, petrochemicals and automobiles. In 2014 alone, $1.7 trillion worth of U.S. goods moved through our ports, representing 75 percent of imports and exports by weight. But ports, like our highways and bridges, face challenges.

Vice President Joe Biden toured the Port’s new Mississippi River Intermodal Terminal today before making remarks commemorating the 7th anniversary of the American Recovery and Reinvestment Act at the Port’s Riverfront Plaza. “I’m here today to talk about smart investments we made in shaping the future of the economy in Louisiana and around the country,” Vice President Biden told a crowd of more than 150 invited guests at the Port. The Port received a $16.7 million Transportation…

Since 1985, the Port of Indiana-Jeffersonville has played an important role in handling millions of tons of steel, grain, fertilizer, salt and other bulk cargoes for both inbound and outbound markets – domestic and abroad. Located directly across the Ohio River from Louisville, Ky., the port's central location connects the Midwest to the world with the Inland Waterways System, providing year-round access to the Great Lakes as well as ocean vessels in the Gulf of Mexico that can be transloaded with barges coming from or going to Jeffersonville.

Deputy Maritime Administrator Michael J. Rodriguez today announced that the Department of Transportation will provide $12.3 million for the Port of Hueneme Intermodal Improvement project in Port Hueneme. The project is one of 39 federally-funded transportation projects in 34 states selected to receive a total of $500 million under the Department’s Transportation Investment Generating Economic Recovery (TIGER) 2015 program. U.S. Transportation Secretary Anthony Foxx announced project selections for this round of TIGER grants on October 29. The Department received 627 eligible applications from 50 states and several U.S. territories, including Tribal governments, requesting 20 times the $500 million available for the program, or $10.1 billion for needed transportation projects.

San Diego’s Tenth Avenue Marine Terminal Modernization project is due to receive $10 million from the U.S. Department of Transportation (DOT), Deputy Maritime Administrator Michael J. Rodriguez announced today. The project is one of 39 federally-funded transportation projects in 34 states selected to receive a total of $500 million under the DOT’s Transportation Investment Generating Economic Recovery (TIGER) 2015 program. U.S. Transportation Secretary Anthony Foxx announced project selections for this round of TIGER grants on October 29.

After evaluating 627 applications, 50 of which were from ports, for the FY 2015 Transportation Investment Generating Economic Recovery (TIGER) grants, U.S. Department of Transportation (USDOT) Secretary Anthony Foxx today announced 39 awards for $500 million in funding to be made in the seventh round of this multimodal, discretionary grant program. Of those, five awards totaling $44.3 million, or about 9 percent of total funding, are going to commercial seaports or to projects that directly aid the efficient movement of goods to and from America’s ports.

A ribbon-cutting ceremony celebrating the new marine cargo dock at Texas’ Port of Brownsville was held today, marking the completion of a $27.5 million project aims to increase cargo capacity and efficiency and help to mitigate congestion in port operations. The U.S. Department of Transportation (DOT) supplied $12 million for the project via its Transportation Investment Generating Economic Recovery (TIGER) competitive infrastructure grant program. The Port of Brownsville also provided funds for road, lighting and other improvements.

U.S. Transportation Secretary Anthony Foxx has announced that applications to the U.S. Department of Transportation for its seventh round of Transportation Investment Generating Economic Recovery (TIGER) grants totaled $9.8 billion, almost 20 times the $500 million set aside for the program, demonstrating the continued need for transportation investment nationwide. The demand for infrastructure investments from across the nation, and for all types of transportation projects, has been overwhelming. Among the 625 applications received this year, 60 percent are road projects, 18 percent are transit projects, and 8 percent are rail projects; with port and bicycle-pedestrian applications each representing 6 percent of the total.

U.S. U.S. Transportation Secretary Anthony Foxx today joined Virginia Gov. Terry McAuliffe, and other Federal, state and local officials to break ground on two major infrastructure projects at the Port of Virginia. Supported by nearly $200 million in federal funding, the projects will relieve congestion and delays at the port terminals and naval base, while reducing harmful emissions and increasing safety in adjacent neighborhoods. “Ports like this one show us that having a first-class transportation system can attract first-class jobs and enable American businesses to ship goods all across the world,” said Secretary Foxx. The I-564 Connector Project…

U.S. Transportation Secretary Anthony Foxx was joined by Vice President Joe Biden, and Maritime Administrator Chip Jaenichen at the Wando Welch Terminal Project in Charleston as part of the secretary’s four-day, five state GROW AMERICA Express bus tour aimed at encouraging Congress to act on a long-term transportation bill. Current surface transportation funding is set to expire on May 31st. “The infrastructure we’re helping to build here at the Wando Welch Terminal means a safer, more efficient, and economically competitive facility,” said Secretary Fox.

Our transportation network consists of different modes like roads, railroads, ship channels and ports. But when it comes to transporting food, building materials, bulk commodities, items used in manufacturing and finished products, each of those modes must be firing on all cylinders and in sync with the others. It is hard to overstate America’s reliance on a safe and efficient freight network. This network is the circulation system that fuels our economy health and helps secure our Nation, and the Obama Administration has consistently emphasized the importance of improving our infrastructure.

U.S. Department of Transportation Maritime Administrator Paul ‘Chip’ Jaenichen today joined Federal, State and local officials at the Port of Corpus Christi for a ribbon cutting ceremony marking a major step forward in the development of an expanded rail yard. A 2012 $10 million Transportation Investment Generating Economic Recovery (TIGER) grant provided the foundation needed for the $17 million project. “This project alleviates a crippling bottleneck in one of our nation’s key export zones,” said U.S. Transportation Secretary Anthony Foxx. The rail yard will improve efficiency of existing cargo movement at Port Corpus Christi’s multimodal facilities, which previously had been a constraint on the port’s activities.

Washington State Legislature’s passed a $16.2 billion transportation investment package that ports of Tacoma and Seattle say will benefit the state’s economy by speeding the movement of cargo through the ports and freight corridors. The ports, business and community leaders have been advocating for funding to complete the key freight routes of State Route 509 in King County and State Route 167 in Pierce County, which are supported in the package. “The transportation system outside our terminal gates is critical to maintaining our competitive edge…

The Port of New Orleans achieved record container volumes in 2014 thanks in part to the addition of new shipping services and an uptick in the national economy contributed. According to year-end totals, 490,526 twenty-foot-equivalent units moved through the Port’s Napoleon Avenue Container Terminal during the 12 months, an 8.8 percent increase over the 2013 total of 451,057. “Strong export markets, primarily for chemical and agriculture products, together with new inbound customers such as Chiquita contributed to record container volumes,” said Port President and CEO Gary LaGrange.