US Ocean & Coastal Shipping Market Report
A decline in demand for freight transportation leads IBISWorld to update its market report on US Ocean & Coastal Transportation. The transportation sector provides deep-sea, coastal, Great Lakes and St. Lawrence Seaway water transportation. The deep-sea shipping activity includes US flagged vessels and non-US flagged vessels. Marine transportation establishments using the facilities of the St. Lawrence Seaway Authority Commission are considered to use the Great Lakes water transportation system. This industry also includes deep-sea passenger transportation such as cruise ships. The updated report indicates that an overall decline in demand for freight transportation caused nearly all operators to struggle during the recession. However, the overall economic revival will pave the way for industry growth, as demand for waterborne freight shipping, cruise travel and higher fuel prices stimulate revenue. Despite these positive factors, external competition will prove to be an imminent threat. Excerpts from the report: In the five years to 2012, revenue for the Ocean and Coastal Transportation industry is expected to decline at an annualized rate of 2.2% to $28.3 billion. According to IBISWorld analyst Lauren Setar, “The global shipping market struggled during the recession as consumers began to spend less, reducing the trade of goods around the world
Eight New Coastal RoRos Slated for U.S.
Maritime Transport & Logistics Advisors, LLC (MTLA) an industry consulting firm based in Ft. Lauderdale, FL has been engaged by Roadships America, Inc. to provide research and analysis of the U.S. Coastal Transport market, as well as assistance with operational considerations in the final design stages of Roadships’ new generation high speed Ro/Ro vessels. Roadships America, Inc., a Reno, NV company is owned by U.S. and foreign investors.
Coastal Towing Announces New Refinancing
Coastal Towing, Inc., announced today the consummation of a $28 million senior term loan with the CIT Group/ Equipment Financing, Inc., Heller Financial Leasing, Inc. Pursuant to this transaction, the Company refinanced senior term debt under existing agreements with CIT and Wells Fargo Bank, N.A. In addition, the loan will be used to facilitate Coastal?s barge construction program. Coastal Towing Announces New Corporate Officer
Kirby Corp. to Acquire Allied Transportation
Kirby Corporation agrees to purchase assets of Allied Transportation Company, a subsidiary of Allied Marine Industries, & two affiliated companies. Kirby Corporation, based in Houston, Texas, is the nation's largest domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii.
Kirby Corp. Announces Record 3Q Results
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
Vigor’s Tacoma Yard Delivers Breasting Barges to Foss
Vigor Industrial expands its newbuild capacity in Washington; Tacoma yard delivers three breasting barges Fabrication teams at Vigor Industrial’s Tacoma, Wash. shipyard have delivered three 60’ x 24’ x 15.5’ breasting barges to Foss Maritime. The barge system will be used to moor Shell’s drill rigs at Terminal 5 in Seattle, Wash. where the company is scheduled to ready its fleet for Arctic drilling this summer.
Judge Recognizes MARAD Authority
As a result of the Maritime Administrator’s designation of New Jersey as an adjacent coastal state, pursuant to 33 USC 1508(a)(2), Atlantic Sea Island Group, LLC, (ASIG) a deepwater port applicant, filed suit against the Maritime Administrator and Secretary of Transportation on February 15, 2008. In addition to filing the suit, the plaintiff also sought a preliminary injunction. ASIG alleged that the Maritime Administrator's designation of New Jersey as an "adjacent
MARAD Opens California Green Trade Corridor
The U.S. Department of Transportation’s (DOT) Maritime Administration (MARAD) today dedicated the California Green Trade Corridor. The Corridor will help take freight traffic off California’s congested I-580 by offering shippers an option to move cargo along the waterways between the Ports of Oakland, Stockton and Sacramento. The project received a $30 million grant from the Department of Transportation, as well as $5 million from local sources
Robert Alan Designed ATB Tugs for ITB Marine
The ITB Marine Group Ltd. (ITB) is currently well into construction of the first of two, twin Z-drive, ATB pusher tugs for service on the West Coast of North America. The tugs are being built at their Annacis Island Shipyard near Vancouver. The tugs will be connected by an articulating pin system to the existing double-hulled oil barges ITB Reliant and ITB Resolution which will receive retrofitted pin ladders and stern extensions for connecting to the new tugs.
Kirby Announces 2Q Results
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”)
Mississippi River Deepening Project Gains Support
The National Association of State Departments of Agriculture (NASDA) hosted its Annual Meeting in New Orleans, where NASDA President and Commissioner of Louisiana’s Department of Agriculture and Forestry, Dr. Michael Strain championed a motion supporting the deepening of the Mississippi River Ship Channel to 50 feet. Earlier in the week, Dr. Strain led the effort to gain the support of the Southern Association of State Departments of Agriculture (SASDA) on the same motion.
Wärtsilä Tests Wireless Charging for Hybrid Coastal Ferry
Wärtsilä informs it has tested its automatic wireless induction charging system on a hybrid powered commercial coastal ferry, the first in the world operating with high power wireless charging capability for its batteries. The tests were carried out in Norwegian during the end of August and early September on the 85 meter long MF Folgefonn owned by Norled, one of Norway's largest ferry operators waters.
DP World to Develop Logistics Plan for Mali
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, met with the President of Mali, Ibrahim Boubacar Keïta, last week to discuss a trade and logistics master plan to unlock the resource rich country’s economic potential. The plan includes a transportation and logistics strategy with electronic customs processes, replicating DP World’s successful model with Dubai Trade at its flagship Jebel Ali Port and Freezone in Dubai.
Corvus Energy ESS Selected by Rolls-Royce for Hybrid Vessel
Corvus Energy has announced that it has been selected by Rolls-Royce as the supplier of a lithium ion based energy storage system (ESS) for the Norwegian Coastal Administration’s new multipurpose vessel OV Ryvingen. The Orca Energy ESS from Corvus will supply electrical power for all-electric propulsion and for electrical needs while docked. The OV Ryvingen is the Norwegian Coastal Administration’s second vessel to combine traditional diesel power with battery-driven operation
IRClass: New Rules for LNG Fueled Coastal/Inland Vessels
Indian Register of Shipping (IRClass) has released new rules for liquefied natural gas (LNG) fueled coastal and inland vessels. The new rules, which come in addition to its already established rules for ocean going ships, aim to underscore the increasing importance of using cleaner fuels, and help maritime stakeholders to promote environment friendly fuels for coastal and inland vessels, the class society said. The rules for gas fuelled vessels have been developed based on a study of the
India Organizes Workshop on Coastal Shipping and Inland Navigation
The Ministry of Shipping in India is organizing a workshop titled ‘Promoting Coastal Shipping and Inland Navigation in India’ in Bhubaneswar, Odisha state today. This is the second in a series of workshops the Ministry plans to hold over the next 6-8 months to create awareness about the Sagarmala programme amongst the stake holders and to engage with them. The first such workshop was held on 9th June
Inmarsat Provides Pacific Northwest, Bering Sea Coverage for Dunlap
Mobile satellite communications company Inmarsat said it has partnered with satellite communications provider Network Innovations and maritime transportation provider Dunlap Towing to install Fleet One across its fleet of 12 vessels. For Dunlap, the Dutch Harbor and Pacific Coast routes in Alaskan waters have traditionally been challenging and its existing service did not offer the reliability required to transmit important operating and safety reports
Microsatellites Launched for Maritime Monitoring, Comms and Science
The Space Flight Laboratory (SFL) announced the successful launch of two Norwegian microsatellites developed and built by SFL for the Norwegian Space Centre with support from the Norwegian Coastal Authority, Space Norway and the European Space Agency. The Soyuz-2.1a rocket carrying the satellites into orbit launched from Baikonur at 06:36:49 UTC Friday, July 14, 2017. Shortly after launch both satellites were contacted from ground stations in Svalbard and Vardo, Norway
Libya Coastguard Rescues Nearly 300 Migrants at Sea
Libya's coastguard rescued an estimated 278 migrants including women and children on Monday off the shores of two different towns west of the capital Tripoli, a spokesman said. The coastal towns to the west of Tripoli - Zawiya, Sabratha, and Zuwarah - are common departure points for migrants trying to reach Europe, often sent out by smugglers in flimsy vessels. The coastguard near Zawiya refinery rescued 128 people about 23 km (14 miles) off the coast and another 150 were rescued off
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 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)
Buzby Confirmed as MARAD Administrator
The U.S. Senate has confirmed Mark H. Buzby as the new administrator of the Maritime Administration (MARAD). MARAD executive director Joel Szabat had been serving in lieu of the administrator following the departure of outgoing administrator Paul “Chip” Jaenichen. Buzby, who was nominated by President Donald Trump in June, is a U.S. Merchant Marine Academy (USMMA) alumnus and retired U.S. Navy admiral with a military career spanning over three decades at sea and
India to Push Shipping Sector
Under the Government of India’s Sagarmala Program to promote port-led development, a master plan has been formulated for the 12 Major Ports. 142 port capacity expansion projects with an estimated cost of INR 91,434 Crore (USD 14.3 billion) and capacity creation of 884 MMTPA have been identified in this master plan for implementation over the next 20 years. Out of these, 58 projects with project cost of approximately INR 28,767 Crore (USD 4
Buzby Sworn in as Maritime Administrator
Rear Adm. Mark H. Buzby, USN, Ret. has been sworn in as the Administrator of the Maritime Administration by U.S Secretary of Transportation Elaine L. Chao. As Maritime Administrator, Buzby will lead the agency tasked with promoting the use of waterborne transportation and its seamless integration with other segments of the transportation system; and the development and maintenance of an adequate, well-balanced U.S
Tropical Storm Harvey heads for Texas, May Strengthen
The Texas Gulf Coast was getting ready for the tropical storm Harvey to make landfall by Friday, bringing with it strong winds, heavy flooding and torrential rains. Hurricane, tropical storm and storm surge watches were in effect for counties on the eastern coast of Texas as the storm moved across the Gulf of Mexico, where it may strengthen into a hurricane. Winds up to 75 mph (120 kmh) and 15 inches of rain (40 cm) were forecast, according to the National Weather Service.