Transportation News

16 Aug 2019

Concordia Expects Stong Tanker Market

Pic: Concordia Maritime

During the first half of 2019, the tanker markets produced voyage result per day levels that exceeded the corresponding period in the slump year 2018 by 50-100 percent, said Concordia Maritime.The Swedish international tanker shipping company's view of market development going forward is largely unchanged.Several factors still point to a gradually stronger market in autumn, it said. In addition to positive fundamentals in the form of sustained high demand for oil, seasonality and declining net tanker fleet growth


16 Aug 2019

Ferry Runs Aground in Boston Harbor

Coast Guard Station Point Allerton crew members respond during the grounding of the ferry Lightening in Boston Harbor, Friday, Aug. 16, 2019. (U.S. Coast Guard photo by Station Point Allerton)

Four people were injured Friday morning when a Boston-bound ferry ran aground off Long Island in Boston Harbor, the U.S. Coast Guard said. At approximately 7:45 a.m., J.P. Vega, operations manager for Boston Harbor Cruises, reported to Coast Guard watchstanders that the ferry Lightening ran aground with 84 people aboard.The Coast Guard said it launched rescue crews from Station Boston and Point Allerton to assist in the response alongside state and local partner agencies.The four


16 Aug 2019

Teekay Adds 4th Arc 7 Icebreaking LNG Carrier

Image: Teekay

Bermuda-headquartered Teekay has taken delivery of Vladimir Voronin, the fourth in a series of six Arc 7 icebreaking liquefied natural gas (LNG) carriers intended for Yamal LNG project."Named after the famous Soviet sea captain, we have recently taken final delivery of Vladimir Voronin HN 2431, the fourth in the series of our six Arc 7 ice breaking LNG newbuilds," said a press statement from Teekay, which has developed from a regional shipping company into one of the world's largest marine energy transportation


15 Aug 2019

Eagle Bulk Moves EU Ops to Copenhagen

File Photo: Eagle Bulk Shipping

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


15 Aug 2019

Shipbuilding Interview: Ron Baczkowski, VT Halter

Ronald Baczkowski is the President and Chief Executive Officer of VT Halter Marine, Inc.

VT Halter in Pascagoula, MS has been on a strong run, capped by its winning the high-profile contract to build the U.S. Coast Guard’s next generation of icebreakers. Maritime Reporter recently spoke with Ron Baczkowski, President and CEO, VT Halter Marine, for insights on the shipyard’s recent success and future prospects. Globally, the shipbuilding industry has gone through some ‘interesting’ times of late. How has it looked from your perspective?The shipbuilding market and activity at VT Halter during the past 12 months has been dynamic.

15 Aug 2019

HHLA Group Revenue Up 9.6 %

Aerial view of the area for AGV transporter at HHLA Terminal Altenwerder (CTA). © HHLA / Thies RÀtzke

German logistics and transportation company Hamburger Hafen und Logistik AG (HHLA) said that it has closed the first half of 2019 with rising revenue and results, despite a challenging market environment.Container throughput increased moderately, due in particular to the successful integration of the Estonian terminal operator HHLA TK Estonia, which was acquired last year. A significant rise in container transport was achieved, said a press release.In conjunction with a strong increase in revenue in the Logistics segment and a once again moderate increase in revenue from property management


15 Aug 2019

FTA Awards $32.8Mln to U.S. Passenger Ferry

Photo: Federal Transit Administration (FTA)

Federal Transit Administration (FTA) announced approximately $32.8 million in project selections to improve the safety and reliability of America’s passenger ferries and enhance mobility for ferry users across the United States.A total of nine projects in nine states will receive funding from the FTA’s Passenger Ferry Grant Program."These federal grants invest in marine infrastructure to improve mobility and enhance safety for passenger ferry services across our nation," said U.S. Transportation Secretary Elaine L. Chao.U.S.

14 Aug 2019

ARES Security Launches Seaport Platform

Pic by ARES Security Corporation

US-based ARES Security Corporation has rolled out a new multi-tenant, Software as a Service (SaaS) solution for seaports in the US.The is now offering their Avert C2 (formally CommandBridge) system as a SaaS platform for small and medium sized ports to leverage the powerful capability that has been used by more than a third of the of the largest seaports in the U.S. since 2006, said a press release from the company.The solution is also deployed at several law enforcement, transportation


13 Aug 2019

UAE Presence Grows in the Maritime World

DP World currently has five terminals in Dubai, three at the flagship Jebel Ali Port. Photo Credit: DP World

Over recent years the United Arab Emirates has emerged as an important maritime hub with grand ambitions. Mark Venables visited the region to discover what is driving that growth.When the UAE was elected to the IMO Council as a Category B member, it immediately raised its profile within the maritime community. The Emirates have taken a significant step forward in the maritime world.Despite this success, the region remains a challenging market for shipping and logistics. One of


12 Aug 2019

Pioneer Marine Gets Tufton Oceanic Funds

Image courtesy: Pioneer Marine

Greece-based global shipping company specializing in the transportation of dry bulk commodities Pioneer Marine said that it has  entered into a commercial management agreement with Tufton Oceanic Funds.The agreement is  to undertake the commercial management of five dry bulk vessels, further enhancing its operating platform, said the shipowner and global drybulk handysize transportation service provider.Upon the initiation of this cooperation, Pioneer will have under commercial management a total fleet of 24 handysize and one supramax vessels


12 Aug 2019

Mitigating Maritime Risk

© Oleksii Fadieiev/Adobe Stock

“The First Steps in Mitigating Contemporary Risks to our Strategic Sea Lines of Communication”It is indisputable that the world’s economy floats on seawater. It is equally indisputable that international maritime transportation is the tool that keeps the global economy moving. The world economy has surged over the last half century, and that growth has been largely driven by globalization and the consequent reduction in barriers to trade. Any operational disruptions in maritime transportation have wider consequences for society


12 Aug 2019

Port of Virginia Posts Record July Volumes

John F. Reinhart, the CEO and executive director of the Virginia Port Authority.

July is Second Busiest Month in Port of Virginia’s History.The Port of Virginia in July processed 265,559 TEUs (twenty-foot equivalent units) in July, making it the second busiest month in the port’s history.The strong cargo performance was driven by an increase of more than 4 percent in loaded import containers, and a jump of nearly 18 percent in export empty containers, which are being repositioned across the globe to handle peak season cargo.“We are continuing to set volume records.

12 Aug 2019

Damen Delivers Stan Tug to Caspian Offshore

Photo: Damen

Caspian Offshore Construction has recently taken delivery of a Damen Stan Tug 1606 ICE class in Kazakhstan. The company turned to Damen when a contract they secured required fast delivery of a small ice class vessel.Damen was able to have the vessel – named Caspian Flora – underway to the client just six weeks following contract signing.The vessel was built at Damen Shipyards Changde in China, to a design that has proven enormously successful, with over 80 sold in the last fifteen years alone.

12 Aug 2019

Mayer Brown Advises on HK FSRU Project

Image: Hong Kong Offshore LNG Terminal

Law firm Mayer Brown advised CLP Power Hong Kong on the Hong Kong offshore LNG terminal project, which involves the use of floating storage and regasification unit (FSRU) technology for the first time in Hong Kong. The FSRU will receive, store, and regasify LNG into two separate subsea gas pipelines to supply natural gas to Castle Peak Power Company Limited and Hongkong Electric Co., Ltd., generating power for Hong Kong residents.Mayer Brown advised CLP Power Hong Kong Limited


11 Aug 2019

Containers Market to Grow by 6.5%

Pic: China International Marine Containers (Group) Ltd. (CIMC)

The shipping containers market estimated to grow with a CAGR of 6.5% during the forecast period from 2018 to 2026, said a report.According to ResearchAndMarkets' latest report, the number of goods carried by shipping containers witnessed an extravagant grow from 102 million metric tons in 1980 to 1.83 billion metric tons in 2017.The quantity is projected to claim more than 60% of the world seaborne trade and almost 90% of the non-bulk cargo transported across the globe, it said.The number is quite promising and anticipated to proliferate significantly in the coming years.

09 Aug 2019

Qatar Invests in US Midstream Crude firm

Pic: Oryx Midstream Services

Qatar's sovereign wealth fund Qatar Investment Authority (QIA) has purchased a significant stake in US-based Oryx Midstream Services, the largest privately held crude midstream provider in the Permian Basin.The stake was acquired from an affiliate of Stonepeak Infrastructure Partners. Oryx serves clients in the Permian Basin.Additionally, QIA has pledged to invest in the development of Oryx alongside Stonepeak. The total investment by QIA will be $550m.Since its founding in 2013, Oryx has established itself as one of the leading midstream operators in the Permian Basin in the Southwest US.

09 Aug 2019

Marad Seeks Input on Domestic Maritime CoE Policy

Marad Administrator Buzby

The U.S. Department of Transportation’s Maritime Administration (MARAD) today announced progress in establishing Centers of Excellence for Domestic Maritime Workforce Training and Education (CoE), which would recognize and support community colleges and training institutions that prepare Americans for careers in the maritime industry. The Maritime Administration is seeking public comment on the proposed policy.“These educational institutions benefit America’s national security and economy by growing and strengthening our maritime work force,” said U.S. Transportation Secretary Elaine L.

09 Aug 2019

MSCI Advisory Strait of Hormuz Precautions

This revised advisory cancels U.S. Maritime Advisories 2019-004 and 2019-008.1. References: U.S. Maritime Alerts 2019-004A, 2019-003A, 2019-002A, and 2019-001A.2. Issue: Heightened military activity and increased political tensions in this region continue to pose serious threats to commercial vessels. Associated with these threats is a potential for miscalculation or misidentification that could lead to aggressive actions. Vessels operating in the Persian Gulf, Strait of Hormuz, and Gulf of Oman may also encounter GPS interference, bridge-to-bridge communications spoofing, and/or other communications jamming with little to no warning.Since May 2019, the following maritime incidents have occurred in this region:Six attacks against commercial vessels (see U.S.

09 Aug 2019

JAXPORT Welcomes FDOT Secretary

Photo:JAXPORT

The Jacksonville Port Authority (JAXPORT), Florida,  said that its Chief Executive Officer Eric Green and other port executives welcomed Florida Department of Transportation Secretary Kevin Thibault for an update on port growth and a waterside tour of ongoing port projects.JAXPORT said that the visit included a look at how the projects—from berth enhancements to Mile Point and harbor deepening—work together to make Jacksonville’s seaport more competitive, bringing jobs and revenue to Northeast Florida.The tour began with a stop at Berths 33 and 34


08 Aug 2019

Grindrod Takes Delivery of Ultramax

Image: Grindrod Shipping Holdings

Grindrod Shipping Holdings announced that it took delivery of the IVS Okudogo, the first of the two owned ultramax “eco” newbuildings that the Company agreed to acquire in May 2018.In conjunction with the delivery, the global provider of maritime transportation services in the drybulk and product tanker sectors, also announced the completion of a drawdown of a portion of the previously announced $31.4 million indicative newbuild financing with IYO Bank for the vessel.The $15.7 million facility relating to the IVS Okudogo has a seven-year term


08 Aug 2019

Genco: Comprehensive IMO 2020 Strategy

Image courtesy: Genco Shipping & Trading

Genco Shipping & Trading said that a comprehensive IMO 2020 strategy underway and four of its capesize vessels have had scrubbers successfully installed to date, and it anticipate its remaining capesize vessels to be scrubber-equipped by the end of 2019."We continue to progress on the execution of our comprehensive plan of compliance with the upcoming IMO 2020 emissions standards that targets a significant reduction of emissions from vessels globally," said the U.S.-based provider


07 Aug 2019

MOL, COSCO Pact on LNG, Ethane Projects

Photo: Mitsui O.S.K. Lines

Japanese shipping company Mitsui O.S.K. Lines (MOL) and China’s Cosco Shipping Energy Transportation (CSET) have signed a memorandum of understanding to further cooperate in LNG carrier and ethane carrier projects."The MOU recognizes and further develops the joint cooperation between the two organizations, for future LNG carrier projects and Ethane carrier projects," said a press release.Over more than 10 years, MOL and CSET have established a strong and extensive partnership


07 Aug 2019

Matson Announces Q2 2019 Results; Lowers FY2019 Outlook

File Image: Matson

Matson reported net income of $18.4 million, or $0.43 per diluted share, for the quarter ended June 30, 2019. Net income for the quarter ended June 30, 2018 was $32.6 million, or $0.76 per diluted share. Consolidated revenue for the second quarter 2019 was $557.9 million compared with $557.1 million for the second quarter 2018. For the six months ended June 30, 2019, Matson reported net income of $30.9 million, or $0.72 per diluted share compared with $46.8 million, or $1.09 per diluted share in 2018.

Maritime Reporter Magazine Cover Aug 2019 - The Shipyard Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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