SHORTSEA SHIPPING: All the Right Moves (Finally)
Marine Highways Gain Traction in the Intermodal Supply Chain.In the United States, landside infrastructure is at a crisis point. Congestion at the big hub ports, exacerbated by imperfect intermodal interfaces with surface transport serving cargo hinterlands is at the heart of the matter. As politicians bicker over a possible infrastructure package, the Highway Trust Fund, funded by taxes on gasoline and diesel fuel, has continued its downward journey towards further deficits (now $144 billion). And, where countless U.S.
Pangaea Orders 2 More High Ice Class Ships
Pangaea Logistics Solutionsexpanded its order for high ice class post-panamax dry bulk 95,000 dwt. vessels at Guangzhou Shipyard International (GSI) from two to four vessels.The four ships, two for delivery in April and May 2021 and two for delivery in November 2021, will be used to service Pangaea's Arctic customer base. The two added ships, also designed with Ice Class 1A specifications, will cost $37.7 million each.Pangaea also announced a series of committed transactions to finance the ships through a $129.2 million bareboat charter structure.
FDX Offshore Acquires Womar Logistics
Connecticut-based maritime finance company FDX Offshore has acquired Singapore’s tanker pool operator Womar Logistics. Watson Farley & Williams (WFW) advised FDX Offshore on its acquisition.The partnership intends to expand its chemical tanker pools as well as initiate and grow independent pools in other classes of ships.FDX is led by Managing Partner Jake Scott and Partner Andy Tuchman who will both become Womar board members. Formed in 2013, FDX has been providing financial advice and capital sourcing to maritime and energy projects.Incorporated in early 2009…
VRSim Launches VR Tool For Painting
Connecticut-based virtual reality (VR) simulation systems provider VRSim introduced SimSpray 3.0, the next generation of VR paint training tool, which uses HTC’s VIVE Pro HMD and VIVE Trackers."SimSpray’s redesign offers a more intuitive and true-to-life user experience by featuring enhanced visuals, trainee feedback, and the ability to simulate larger work environments," said a press release.The HTC VIVE Pro enhanced optics and visuals provides SimSpray with the most accurate…
Air Caster Tech in the Shipyard
Like the magic carpet of ancient myth, air caster technology has revolutionized the way in which heavy payloads can be moved in a cost effective and efficient way — floating on air. Developed post-World War II by engineers at General Motors, air casters were later modified and improved for the construction of the iconic Boeing 707 in the early 1960s. Today, used in a host of industries, companies in the maritime industry are employing air casters to handle lifts from mega-yachts to massive hull sections and Z-drives.A PrimerA form of hydraulics that uses air instead of fluid…
Eagle Bulk Adds New Ultramax to its fleet
US-based owner and operator of dry bulk vessels Eagle Bulk Shipping announced that it has taken delivery of the first of six modern Ultramax drybulk vessels the Company has previously agreed to acquire.The ship, which has been renamed the M/V Dublin Eagle, is a 2015-built, high specification scrubber-fitted SDARI-64 Ultramax vessel built at Jiangsu New Hantong Ship Heavy Industry Co., Ltd, said a press note from the player in the Supramax / Ultramax segment.Proforma for the five remaining acquisition vessels…
MN100: Harbor Harvest's Shortsea, Environmentally Correct Shipping Arrives
The Captain Ben Moore is the third in a series of 65-foot aluminum catamarans built by Derecktor and powered by BAE Systems hybrid technology. The vessel was built for Harbor Harvest, a Norwalk, CT, based company set on changing the way fresh produce and foods are transported around metro areas. The forward-thinking vessel will carry goods from regional family farms across Long Island Sound, relieving traffic congestion and reducing emissions. The vessel has a top speed of 15 knots and boasts 300 square feet of open cargo space…
Diamond S Shipping Sells Two Vessels
Connecticut-headquartered Diamond S Shipping Group Inc. (DSG) announced that it has agreed to sell two of its 2008-built medium-range product carriers as part of its fleet renewal initiatives.The vessels - the Atlantic Aquarius and Atlantic Leo - are expected to be delivered in the third quarter or early the following quarter, said the owners and operators of crude and product tankers, which provide seaborne transportation of crude oil, refined petroleum and other products in international shipping markets.Diamond will recognize a non-cash charge of about $9.5 million per vessel this quarter…
Eagle Bulk Moves EU Ops to Copenhagen
The US-based shipowner-operator engaged in the global transportation of drybulk commodities, Eagle Bulk Shipping announced the establishment of a new commercial office in Copenhagen, relocating from its existing base in Hamburg.The Copenhagen office will be led by Mathias Groenvald, who recently joined Eagle Bulk, said a press release from the player in Supramax / Ultramax segment.Groenvald previously served as Senior Vice President, Head of Chartering for Clipper Bulk, and has over 30 years of drybulk industry experience.Gary Vogel…
Trade Fears Drag Stocks, Yuan at 10-Year Low
NEW YORK, Aug 5 (Reuters) - Stock markets around the world fell hard on Monday on fears that China's willingness to let the yuan slide in response to the latest U.S. tariff threat could further aggravate trade-related tensions between the world's two largest economies.China on Monday let the yuan tumble beyond the 7-per-dollar level for the first time in more than a decade, in a sign Beijing might be willing to tolerate further currency weakness after U.S. President Donald Trump vowed last week to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept.
U.S. DOT Names Nine Marine Highway Projects
The U.S. Department of Transportation’s Maritime Administration (MARAD) today announced the designation of nine Marine Highway Projects and a Marine Highway Route that will benefit Connecticut, Florida, Michigan, New York, Oregon, Texas, Virginia, Washington State and American Samoa. Marine highways are navigable waterways that can be used as alternate options to traditional shipping methods. “The designation of marine highways by Congress will help move cargo and people to help grow the economy and shift freight off of congested highways,” said Transportation Secretary Elaine L. Chao.
Eagle Bulk Raises Funds for New Ships
Eagle Bulk Shipping announced a $100 million convertible note offering in a private placement to qualified institutional buyers.Eagle Bulk intends to use the net proceeds from the offering to fund a portion of the aggregate purchase price of up to six modern high-specification Ultramax vessels and for general corporate purposes, including working capital."Closing of the purchase of the Acquisition Vessels is subject to customary conditions. Certain events may arise which could result in the company not taking delivery of any of the Acquisition Vessels…
Ecochlor to Retrofit Euronav Tankers
Connecticut-based ballast water treatment solutions provider Ecochlor announced a contract to supply seven Euronav Suezmax and VLCC tankers with a ballast water management system (BWMS).According to Ecochlor, the agreement comes with an option for Euronav to purchase an additional 30 Ecochlor systems for their vessels between 2020 – 2024.The fleet of Euronav, the owner, operator and manager of tankers transporting crude oil worldwide, consists of ULCCs, VLCCs and Suezmaxes with…
SGRE Bags Largest U.S. OWP Order
The Spanish wind energy giant Siemens Gamesa Renewable Energy (SGRE) has received an order for 1,714 MW from Orsted and Eversource.Encompassing three offshore wind power projects, the signed conditional contract is the largest U.S. offshore wind power (OWP) order to date, it said in a press release.According to SGRE, the order encompasses the supply, delivery, and installation of SG 8.0-167 DD wind turbines including service agreements in federal waters off the northeastern coast of the U.S.
Atlantic Offshore Wind: Favorable Winds for Maritime
Now that the United States finally can envision steady winds blowing from the Atlantic Seaboard due to a pipeline of offshore wind farms on the horizon, the maritime industry can finally step up and earn some of the benefits. This includes shipbuilding, port construction, and worker training. This article reviews the key developments and forecasts the growth in maritime jobs.The federal and state governments share responsibility for developing offshore wind farms and bringing the wind into the power grid and…
Workboat Report: The U.S. Workboat ($33.8B) Market
The U.S. towing and tug business is 5,500 boats, more than 31,000 barges with an estimated total impact on U.S. GDP of $33.8 billion.“At a macro level, the bigger ships are causing downward pressure on the ship assist business because there are fewer ship calls given the increased capacity of these vessels. However, certain ports have seen tremendous growth, based on strategic location and infrastructure investments that have attracted these larger ships and been a net plus for these areas.”Kate Fuhrman…
Columbia Class Subs Take Shape in Virginia
A plasma-burning machine cut the first steel plate that will be used to build Columbia (SSBN 826), the lead ballistic missile submarine. As Newport News continues its digital transformation, the event also marked the first class of submarines that will be built using fully digital blueprints.“Today is a historic day,” said Jason Ward, Newport News’ vice president for Columbia-class construction. “It has been a half century since Newport News Shipbuilding has constructed a ballistic submarine.
HydroHoist Lands U.S. Navy Contract
HydroHoist Boat Lifts,a manufacturer of marine dock equipment, has announced the receipt of orders from the U.S. Navy to provide HarborHoist boat lifts to protect Navy security and patrol boats.The contracts for installations include ports in Virginia, New Jersey, Connecticut and New Hampshire, to be completed in April.HydroHoist was selected through a strong vetting process based on the Navy’s confidence in HydroHoist’s history and the HarborHoist’s saltwater friendly design.
W&D to Build Two ASD Tugs for Moran Towing
Washburn & Doughty, of East Boothbay, Maine, has announced the execution of a new vessel construction contract with Moran Towing Corporation, of New Canaan, Connecticut, to build two 86’ x 36’ ASD-Type Ship Assist and Escort Z-Drive Tugs, with options to build up to ten vessels.In addition to the two firm tugs, which will be delivered in 2020, the contract provides Moran with four, two-tug options keyed to production milestones of the tugs then under construction.W&D’s team of in-house naval architects and designers will complete the production designs for the new 86’ tugs based on the contract plans and regulatory package prepared by Jensen Maritime Consultants, Inc.
USCG VADM Fagan Weighs in on Arctic Plans
The U.S. Coast Guard’s Pacific Area commander discussed the service’s new Arctic Strategic Outlook, Polar Security Cutters and innovation efforts to improve maritime domain awareness in the high latitudes April 26, 2019, during the Arctic Encounter Symposium in Seattle.During her keynote speech at the symposium, Vice Adm. Linda Fagan said, “The tyranny of distance and the harsh Arctic climate pose significant challenges to agencies charged with providing maritime safety and security to all Americans, including the hundreds of villages and thousands of seasonal workers in the U.S.
Coast Guard Discusses Developing Arctic Role
The U.S. Coast Guard's Pacific Area commander discussed the service's new Arctic Strategic Outlook, Polar Security Cutters and innovation efforts to improve maritime domain awareness in the high latitudes Friday during the Arctic Encounter Symposium in Seattle.During her keynote speech at the symposium, Vice Adm. Linda Fagan said, “The tyranny of distance and the harsh Arctic climate pose significant challenges to agencies charged with providing maritime safety and security to all Americans, including the hundreds of villages and thousands of seasonal workers in the U.S.
MARAD Awards $6.7m in Marine Highway Grants
The U.S. Department of Transportation’s Maritime Administration (MARAD) has announced $6,790,000 in grants to three Marine Highway projects. The funding, provided by MARAD’s Marine Highway Program, will go towards enhancing existing services in Louisiana and Virginia as well as supporting the development of a new project in New York.“These grants will expand the use of our country’s waterways, which are essential to our economic growth and vitality,” said U.S. Secretary of Transportation Elaine L. Chao.
RMI Maintains Qualship 21 Status
The Republic of the Marshall Islands (RMI) has been recognized on the United States Coast Guard's (USCG's) QUALSHIP 21 roster for 2019-2020. The USCG program rewards vessels for commitment to safety and quality when calling at ports in the United States (US).Only flag States which maintain a port State control (PSC) detention ratio of 1.00% or less over a three-year period and also meet a stringent set of judgement criteria are eligible for the program.A vessel registered in a…