Parker, Barry
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LNG is the Bridge to ‘Zero Emissions’ Shipping
The advent of industry wide tightening of allowable sulfur emissions is getting nearer. Suddenly, with the deadline now little more than one year away, the countdown clock will very soon be ticking much louder. Simply stated, the cap on allowable sulfur content in marine fuels, presently at 3.5 percent in many geographical regions, will be reduced to 0.5 percent in January 2020. The 0.1 percent sulfur cap…
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Offshore Optimism is Cautiously on the Rise
Following the path of oil prices, consolidation also follows myriad financial crises. What happens next isn’t altogether clear, but the long, deep trough for offshore energy may finally be in our choppy wake.In mid 2017, financial turnaround and financial repairs specialist Alix Partners made a bold statement regarding the beleaguered Offshore Service Vessel (OSV) marketplace. In a July 2017 report…
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LNG: Lagging, Not Gone
Low energy prices, depressed day rates and slow growth of bunkering infrastructure has dampened progress for the marine industry’s ‘white knight’ of environmentally friendly fuels. LNG, nevertheless, is here to stay. Liquified Natural Gas (LNG) is a clean fuel in abundant supply. The green advantages of LNG are well known: Class Society DNV-GL, a pioneer in the commercialization of LNG fueling for maritime applications…
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Shipping Executive Focus: Art Regan, Executive Chairman, Genco Shipping & Trading
Art Regan, who has been the Executive Chairman at Genco Shipping and Trading (NYSE: GNK) since October 2016, personifies the new type of shipping executive, savvy on all things maritime (he is a graduate of SUNY Maritime College at Fort Schuyler) coupled with a keen understanding of market dynamics. Regan commenced his maritime industry career at sea, rising through the shipboard officer ranks completing…
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Cautious Consolidation for OSV Companies Brings Market Change
Will a rising tide in the offshore oil markets float all the boats? In the U.S. Gulf of Mexico, that remains to be seen.Offshore services, exploration and production are on a roll. In early October, yet another business combination of big drillers was announced. In a sign of optimism, Ensco announced its plan for an all-stock acquisition of Rowan Offshore, worth around $2.4 billion. The new company will be domiciled in the United Kingdom, but will have a large presence in Houston.
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North American Ferries: Faster, Greener & Safer
Domestic ferries adjust their business models to met regulatory pressures and exceed environmental standards with an eye towards improved service. And, not a minute too soon. In North America, stalwarts in the ferry business continue to shorten journey times compared to surface alternatives, while at the same time, bring accessibility to barrier and coastal islands that would otherwise be impossible to reach.
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Ship Management and Technology
Technology is central, not merely an add-on, to ship manager brand value. Ship managers who operate vessels on behalf of their owner clients, are the lynchpin of international shipping. As the industry has gone through rounds of relentless cost cutting, at times of increasing regulatory scrutiny, and commercial pressures for high standards, third party managers have filled the need for raising quality, while maintaining tight cost controls.
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Shipping Registries and Piracy Response
International shipping registries have continued to sharpen their aim taken at a longstanding maritime problem: What is the appropriate response to piracy? As attacks have shifted from Somalia to West Africa, the issue remains at top of mind. Armed guards have proven to be a successful deterrent against attacks. Ship finance and registry lawyer Brad Berman, a Partner at Holland & Knight (H&K), sums up a sea change in views over the past year in views about guns aboard ships…
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Dredging: Digging Deep for a 'WIIN'
In the waning days of 2016, the outlook brightened dramatically for the big U.S. dredging contractors. Just before Congress dispersed for the Holidays, then-President Obama signed a pivotal piece of legislation – the Water Infrastructure Improvements for the Nation (WIIN) Act, S612. Authorized needed investment in America’s ports, channels, locks, dams, and other infrastructure that supports the maritime and waterways transportation system and provides flood protection. Authorized U.S.
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The Evolving ATB Jones Act Business Model
Today’s ATB play seemingly has legs for the long haul, as operators build and market needs fluctuate. The refined product trades are always in flux. Similarly, the supply patterns for products (and for chemicals derived from oil refining) are subject to constant change. At the same time, the distribution of refined petroleum products sees great benefit from the efficiency of Articulated Tug Barges (ATBs)…
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Marine Finance for Brown Water Operators
A primer for navigating the ‘ups and downs’ of marine money for domestic stakeholders. Vessel financiers are resourceful and adaptable to changing markets. On the domestic side, financiers of Jones Act and “brown water” assets have continued to serve their customers through shifting shoals in both broader capital markets and in the marine markets – both known for their ups and downs. Marine finance can take many forms.
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Managing the New Panamax Containerships
The explosive growth of international boxships is challenging not only the physical infrastructure of North American ports, but also the very nature of the existing supply chains that they impact. The recent dialogue on container shipping has been all about so-called “mega-ships;” those vessels that with larger capacity than those that are already in service at any point in time. In the container trades…
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Autonomous Vessels: Modern Ferries Evolve
Automated now; autonomous looms large in the center porthole. The word ‘autonomous’ is probably the maritime industry’s most frequently used term in the past year. The word, however, has a far different meaning than the similarly sounding “automated” – which means that certain processes are handled by machines, rather than by humans. Throughout 2017, industry thought leaders have been mulling over…
