Transportation Markets News

IMTRA, the New Bedford, Mass.-based manufacturer and importer of solutions and products for the marine, energy and transportation markets, recently underwent a change in ownership. But even under new owners, so much about the company, including its makeup and offering, will remain unchanged. And that’s because the new owners are the company’s existing employees.Eric Braitmayer, president and CEO, said IMTRA’s leadership—including vice president of recreational sales Chip Farnham…

IMTRA, the manufacturer and importer of solutions and products for the marine, energy and transportation markets, announced it has partnered with KPM Marine to support the growing demand for crew transfer vessels (CTV), and offer vital equipment for fire and rescue vessels.Evolving with the offshore wind energy industry, KPM, based in Birmingham UK, has extensive experience with CTV companies and strong relationships with naval architects, boat yards and operators. KPM products were installed by Senesco Marine for WindServe Marine's offshore wind support vessel Odyssey…

The Biden administration recently issued a sweeping Executive Order [1] aimed at protecting and enhancing competition, and the transportation sector—including air, ocean, and rail—is among the industries specifically identified and likely to see heightened antitrust scrutiny under the new directives. This executive action was soon followed by the long-awaited announcement of Biden’s pick to lead the U.S. Department of Justice’s Antitrust Division (Division), Jonathan Kanter, who…

Online valuation and data provider, VesselsValue, said Friday it had acquired the Norwegian shipping research and advisory company, ViaMar.ViaMar, based in Oslo, is becoming part of VesselsValue which has over 200 employees across eight offices worldwide in the UK, Singapore, Hong Kong, Shanghai, Seoul, and Manila.The Norwegian company provides market research and advisory services in shipping, energy and financial markets, and, according to VV, has particularly strong relationships with major banks…

The Greenbrier Companies, Inc., supplier of equipment and services to global freight transportation markets, announced on Tuesday that its Board of Directors appointed President and Chief Operating Officer (COO), Lorie Tekorius, as the company's next CEO and President, effective March 1, 2022. On the same date, Greenbrier's co-founder, Chairman and CEO William A. Furman will assume the newly created role of Executive Chair until his retirement in September 2022. Furman 's current Board term continues until January 2024.Furman said…

President Joe Biden will soon order U.S. transportation agencies to crack down on anti-competitive conduct and unjust fees in the rail and sea shipping industries to try to lower costs to consumers, the White House said on Thursday.It said his executive order is aimed at the Federal Maritime Commission (FMC) and the Surface Transportation Board (STB).White House Press Secretary Jen Psaki noted that shipping costs had risen dramatically during the months of the pandemic.The order…

IMTRA, manufacturer and importer of solutions and products for the marine, energy and transportation markets, introduced its new line of commercial-grade Side-Power thrusters designed for commercial vessels and larger recreational yachts. Available in four different tunnel sizes, the new products include proportional or on/off controls in AC-powered and hydraulic versions.Available in 12-, 16-, 20- and 24-inch tunnels, the new Side-Power thrusters provide up to 3,000 pounds force of thrust. Each unit is built with dual, counter-rotating, bronze five-blade props for durability and efficiency.

Bollinger Quick Repair, LLC, a Bollinger Shipyards LLC company, has taken delivery of a new 3,400 ton dry-dock.Built at Bollinger Shipyard’s Amelia, La. facility, the dock is now in service and measures 219’7” X 84’, with a wing wall depth of 15’, and is rated for 3,400 tons, said Bollinger President & CEO, Ben Bordelon.The dry-dock is named in honor of long-time Bollinger employee Eddie Barnes, Jr., who joined Bollinger Shipyards on June 29, 1972 and during his tenure with the company has held various key production positions such as Dockmaster, Foreman and Superintendent.

Genscape Maritime’s Vessel Coverage of U.S. Inland Waterways offers new perspectives and a leg up on the competition. In today’s transportation markets, information is everything.It was back in 2016 that Genscape announced the complete integration of more than 400 terrestrial AIS antennas in North America, providing an impressive level of data accuracy and visibility into ship movements in the U.S. today, Genscape’s proprietary antenna network offers customers insights into ship movements, commodity flows, and other important data metrics in North America.Genscape’s private monitoring network covers every commercial port in the U.S., and over 90 percent of U.S. inland waterways, including extensive coverage of key regions such as the Mississippi and Ohio Rivers, and the Gulf Coast.

As maritime operators deal with challenging operating conditions, many are embracing digitalization as the most reliable way to lower operational costs and improve vessel efficiency.According to research conducted by Lloyds List Intelligence and Ovum, two-thirds of vessels use digitalization systems onboard. According to the executives surveyed, this is being driven by a desire to improve operating efficiency, with 88 percent already working toward that goal. As part of the process…

SMT Shipping  and The CSL Group announced they have entered into an agreement for CSL to acquire 50% of Eureka Shipping, SMT's pneumatic cement vessel business. The new joint venture will allow Eureka and CSL to combine expertise, resources and innovative technologies to expand services to customers in the seaborne cement powder and fly ash transportation markets around the world. CSL's Australian cement shipping business is not included in the joint venture. "The joint venture represents an important step in CSL's strategy to increase its presence in the global construction material sector," said Louis Martel, President and CEO of The CSL Group. "SMT Shipping is honored to partner with CSL in Eureka," said Mark Voorham, CEO of SMT Shipping.

Kirby Corporation (NYSE: KEX) has announced net earnings attributable to Kirby for the second quarter ended June 30, 2017 of $25.8 million, or $0.48 per share, compared with $38.9 million, or $0.72 per share, for the 2016 second quarter. Second quarter net earnings includes pre-tax expenses of $0.7 million, or approximately $0.01 per share, related to the pending acquisition of Stewart & Stevenson LLC (“S&S”). Consolidated revenues for the 2017 second quarter were $473.3 million compared with $441.6 million reported for the 2016 second quarter.

Satellite-based connectivity has always played a critical role for the maritime sector. As the communications expectations of ship owners, passengers and crews continue to grow, maritime service providers are seeing a transformation in the type and quantity of applications that need to be supported at sea. The advent of VSAT broadband services is driving a shift away from traditional, low-level L-band connections that ship operators have relied upon for decades. VSAT services are preferred to respond to the demand for high-speed broadband that can support bandwidth-intensive applications.

Agile Network, a provider of multi-carrier and multi-modal transportation execution technology in North America, announced it has reached an agreement for the acquisition of Pantechnik International, a leading provider of transportation execution technology in Europe and Asia. "Expanding Agile Network's reach into Asia and Europe is a key component of the Agile Network long term strategic plan. Pantechnik International has operated in Singapore, London, and Amsterdam and has helped pioneer technology in the international transportation industry, providing the ideal platform for our expansion. As we explored the market, we were impressed with the Pantechnik customer base…

Kirby Corporation today announced net earnings attributable to Kirby for the fourth quarter ended December 31, 2012 of $57.9 million, or $1.03 per share, compared with $56.2 million, or $1.00 per share, for the 2011 fourth quarter. Revenues for the 2012 fourth quarter were $512.6 million compared with $550.1 million for the 2011 fourth quarter. Joe Pyne, Kirby's Chairman and Chief Executive Officer, commented, "Our fourth quarter results benefited from higher demand and favorable pricing in our coastal marine transportation markets, as well as a contribution from our two fourth quarter coastal acquisitions. We were also able to manage through the Mississippi River System's low water issues and Hurricane Sandy with only an estimated $.02 to $.03 per share negative impact.

Teekay LNG Partners signs two, 5-year time-charter contracts with Cheniere Marketing to provide Liquefied Natural Gas (LNG) transportation services. The fixed-rate time-charter contracts will be serviced by the two 173,400 cubic meter LNG carrier newbuildings ordered by Teekay LNG in December 2012. The newbuildings are currently under construction by Daewoo Shipbuilding & Marine Engineering of South Korea and are scheduled to be delivered in the first half of 2016. These new ships will be constructed with M-type, Electronically Controlled, Gas Injection (MEGI) twin engines, which are designed to be significantly more fuel-efficient and have lower emission levels than other engines currently being used in LNG shipping.

Since January 8, 2009, United States (U.S.) and foreign flagged ships operating in the waters of the U.S. have been subject to MARPOL Annex VI. The Marine Environmental Protection Committee (MEPC) of the International Maritime Organization (IMO) adopted amendments to Annex VI and the nitrogen oxides (NOx) Technical Code, collectively referred to as Annex VI (Revised). Annex VI (Revised) entered into force on July 1, 2010. These amendments include significant and progressive limits for sulfur oxide (SOx) and NOx emissions from marine engines and for the first time addressed emissions of Particulate Matter (PM). The amendments replaced the SOx Emissions Control Areas (SECA) by introducing the concept of Emission Control Areas (ECA) for SOx, NOx, and PM.

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability. Kirby Corporation announced record net earnings attributable to Kirby for the second quarter ended June 30, 2014 of $75.0 million, or $1.31 per share, compared with $63.1 million, or $1.11 per share, for the 2013 second quarter. Consolidated revenues for the 2014 second quarter increased 11% to $628.1 million compared with $563.9 million reported for the 2013 second quarter.

Harris Corporation (NYSE:HRS) has received Type-1 National Security Agency (NSA) certification for its Falcon III® RF-340M multi-channel manpack radio. The certification enables Harris to field the radios for secure voice and data communications up through the Top Secret level of information assurance. The RF-340M multi-channel manpack is the first and only commercially developed radio to achieve Type-1 certification in anticipation of the U.S. Army's Handheld, Manpack and Small-Form Factor (HMS) tactical radio program. The radio is smaller and lighter and offers extended battery life in comparison to the current program of record radio.

It has been almost two years since the Deepwater Horizon incident occurred on April 20, 2010. As a result of this incident, although there have been many bills introduced in Congress to address issues raised by this incident, as well as numerous related hearings, Congress was unable to see the way clear to actually enact any pollution-related legislation, or for that matter any substantial maritime legislation in 2011. The following is a summary of the action taken by Congress last year and a perspective on such legislation for 2012.

How did you come to your current position? Clifford    I currently serve as the president of BAE Systems Ship Repair and have been in this position since 2008. In this role, I lead our six full service shipyards and our 5,000 highly skilled employees. Prior to assuming my current role, I was the vice president and general manager of BAE Systems Norfolk Ship Repair. Before joining BAE Systems, I spent more than 20 years in the private sector serving in senior management positions at several shipyards.

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 $0.08 per share benefit due to the reduction of the United earnout liability.

Kirby Corporation announced record net earnings of $68.1 million, or $1.19 per share, for the fourth quarter 2014 (ended December 31). The results bested 2013’s fourth quarter figures of $64.3 million, $1.13 per share. Consolidated revenues for the 2014 Q4 increased 18% to $668.3 million compared with $568.4 million for Q4 2013. Kirby also reported record net earnings for the 2014 year of $282 million, $4.93 per share, compared with $253.1 million, $4.44 per share, for 2013 which included a $0.20 per share benefit due to the reduction of the United earnout liability.