CPA Announces P3 Investment in State Pier
Connecticut Port Authority and Governor Lamont announced $93 million public-private investment in State Pier to develop Connecticut into the center of New England’s offshore wind industry.May 2, 2019 was a historic day for job creation and economic growth across southeastern Connecticut.The Connecticut Port Authority, Gateway Terminal, Eversource and Ørsted announced a partnership to revitalize State Pier and establish New London as a major northeast center for the growing offshore…
CPA Opens New Round of SHIPP Grants
The Connecticut Port Authority (CPA) issued a Request for Applications (RFA) for project funding under the Small Harbor Improvement Projects Program (SHIPP), a competitive grant program managed by the CPA. Under SHIPP, Connecticut municipalities and other properties, in or adjacent to waters of the state, may apply for matching funds to conduct a project that improves the infrastructure or management of their local waterway.The actual selection of grant recipients will take place…
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.
CPA Selects GZA GeoEnvironmental for Work
Connecticut Port Authority announced that GZA GeoEnvironmental will provide design and engineering solutions for repairs and modifications of Pier 7 located at Fort Trumbull.Working closely with the Connecticut Department of Energy and Environmental Protection (DEEP) – the facility owner – the Connecticut Port Authority is investing in the project and will oversee GZA GeoEnvironmental during the study.Pier 7 is an important piece of Connecticut’s maritime infrastructure, and…
Cruising: Small is Beautiful
Cruise shipping, at the intersection of maritime and hospitality industries, continues to be vibrant. The Cruise Lines International Association (CLIA), the industry’s major trade association, forecasts that the ocean cruise segment will draw 30 million passengers in 2019, up from 28.2 million in 2018. At the start of the decade, in 2010, the comparable count was 19.1 million passengers. CLIA members will have 272 vessels operating in 2019- with 18 ocean going vessels set to begin service.
Mass. Maritime Honors IRI's Gallagher
William Gallagher, President of International Registries, to be named Massachusetts Maritime Academy's Maritime Person of the Year.Since 1995, Massachusetts Maritime Academy has been honoring leaders with a renowned career of excellence, innovation and service to the maritime industry with the Emery Rice Medal at their Salute to the Maritime Person of the Year events. This year they will honor Mr. William Gallagher the President of International Registries, Inc. for his distinguished support and expertise…
U.S. Army Corps Selects 10 Beneficial Use Pilot Projects
At the end of December, the U.S. Army Corps of Engineers (ACE) announced its selection of ten dredging projects that will form the core of a pilot program to advance the beneficial use of dredged material.The recent U.S. Army Corps of Engineers’ announcement culminated a program required by Congress, established within the Water Resources Development Act (WRDA) of 2016, specifically Section 1122. Congress directed that the ten pilot projects selected were required to present environmental…
Int'l Ice Patrol Resumes Operations for 2019 Season
The Coast Guard International Ice Patrol announced it has commenced operations for the 2019 ice season as of Feb. 5, 2019 and will resume production of the North American Ice Service (NAIS) daily iceberg warning products from its operations center in New London, Connecticut.The International Ice Patrol generates the iceberg warnings from February through August, when icebergs pose the greatest threat to transatlantic shipping. The Canadian Ice Service generates the iceberg warning products for the remainder of the year.
Sea States: Documentary on the Shipping Industry to debut in Spring 2019
Sea States, a new documentary film on the importance of the shipping industry is currently under production by Third Wave Films. Endorsed by the Connecticut Maritime Association, and the Marine Industry Foundation, the film is being funded by key stakeholders in the maritime community.Sea States will show how shipping is the life blood of our global economy. Despite the fact 90% of all consumables arrive by ship, the public remains unaware of the value of this hidden, yet massive industry.
CPA Selects Gateway as New Operator of State Pier New London
The Connecticut Port Authority (CPA) has reached an agreement with Gateway New London LLC for the long-term operation of State Pier in New London. The decision comes after a rigorous competitive selection process designed to determine the highest and best use of State Pier and to find a partner with the capability to deliver expanded economic opportunity to the state.Under terms of the 20-year agreement, Gateway assumes operation of State Pier on May 1, 2019, with an option at the end of the term for the CPA to extend for two additional ten-year periods.
BW LPG: Proposal to Combine with Dorian Withdrawn
BW LPG Limited (BW LPG) announced that it has withdrawn its proposal to combine with Dorian LPG Ltd. (Dorian). BW LPG will also withdraw the candidates it previously intended to nominate to stand for election to the Dorian board at Dorian’s 2018 Annual Meeting of Shareholders.BW LPG also announced that the following letter has been sent on October 8, 2018 to the Chairman, President and Chief Executive Officer of Dorian:Mr. John HadjipaterasChairman, President and Chief Executive OfficerDorian LPG Ltd.c/o Dorian LPG (USA) LLC27 Signal RoadStamford…
XPO profit buoyed by strength in 'last-mile' deliveries
XPO Logistics, one of the largest global freight transportation and warehousing companies, reported a jump in quarterly profit on Wednesday, fueled by shipments of heavy and bulky items and strong demand for e-commerce order fulfillment.Greenwich, Connecticut-based XPO is North America's largest provider of "final-mile" deliveries of heavy goods like Home Depot barbecue grills and Best Buy televisions from warehouses direct to homes.
Connecticut Port Authority Plans Infrastructure Upgrades
Joined by Connecticut Governor Dannel Malloy at New London’s City Pier, the Connecticut Port Authority (CPA) announced a $15 million investment for infrastructure improvements at State Pier.These funds will revitalize the pier, maximizing its potential as a driver of regional economic growth, the port authority said.New London’s unobstructed access to its deepwater port, together with Connecticut’s vibrant manufacturing community, give the region a major advantage in maritime…
Quadrise Fuels Signs MoU with Freepoint Commodities
Fuel oil technology firm Quadrise Fuels International said it had signed a non-binding memorandum of understanding with commodities trader Freepoint Commodities to provide commercial opportunities for its MSAR fuel technology product.The Synthetic fuel developer said that this followed the effective end of a trial in Saudi Arabia for a combustion boiler project that would have used MSAR due to the lack of an agreement between the utilities involved. MSAR is a low viscosity oil in water emulsified synthetic HFO.Freepoint…
Bates Reelected as Connecticut Port Authority Chairman
The Connecticut Port Authority has re-elected Scott Bates as Chairman of its Board of Directors in a unanimous vote. “We stand united and focused on advancing the maritime economy of Connecticut,” Bates said. “I am proud of the work we have done together, excited about where we are now, and know there is much more to accomplish in the days ahead. “The Connecticut Port Authority is committed to developing a statewide maritime strategy, which means working alongside leaders and stakeholders in all of our coastal communities,” Bates added.
U.S. Commerce Chief Ross Reportedly Divests Shipping Interests
According to a Reuters report, U.S. Commerce Secretary Wilbur Ross has divested his interests in oil tanker company Diamond S Shipping and is in the process of selling off his holdings in another shipping firm, Navigator Holdings, a Trump administration official said earlier this week. Ross had originally intended to retain his shipping interests following his confirmation in February. But the 79-year-old investor came under criticism after disclosures on Sunday that one of Navigator's major clients is the Russian gas company Sibur…
Eagle Bulk Buys Ultramax Bulkcarrier
Eagle Bulk Shipping announced that it has acquired a 2015-built CROWN-63 Ultramax bulkcarrier for a purchase price of USD 21.275 million. The vessel was constructed at Yangzhou Dayang Shipbuilding CO.,LTD., the same yard as the nine Ultramaxes acquired by the Company earlier this year, and is of similar design. The vessel is scheduled to be delivered to the Company in January 2018, and will be renamed the M/V New London Eagle. Including the M/V New London Eagle, the Company’s fleet will consist of 47 vessels, including 12 Ultramaxes acquired over the last 12 months. Eagle Bulk Shipping Inc.
Wah Kwong Maritime's Chao is 2018 CMA Commodore
Award to be presented March 14, 2018 at the conclusion of the CMA’s Shipping 2018 Annual Conference and Exposition. Ms. Sabrina S. M. Chao, Executive Chairman of Wah Kwong Maritime Transport Holdings Ltd. has been named as the Connecticut Maritime Association (CMA) Commodore for the year 2018. Ms. Chao follows a long succession of influential maritime industry leaders as Commodore. The 2018 Commodore Award will be presented on March 14, 2018 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition…
Eagle Bulk Shipping Adds New Ultramax
U.S. based owner of Handymax dry bulk vessels Eagle Bulk Shipping has announced that it has taken delivery of its newly acquired vessel, the M/V New London Eagle, a 2015-built CROWN-63 Ultramax. The acquisition has been funded by cash on-hand and new debt of USD 8.6 million. This loan, which equates to approximately 40% of the purchase price, represents an upsize to the existing Eagle Bulk Ultraco LLC Debt Facility which carries an interest rate of LIBOR plus 2.95% and has a maturity of October 31, 2022.
New Digital Marketplace for Supply Chain Management
Mitsui & Co., Ltd. and Weathernews Inc. have joined forces to create a new digital marketplace for the maritime industry, called maruFreight. maruFreight operations will benefit from the financial support and expertise of Mitsui, one of the largest trading and investment companies in the world, and Weathernews, the largest weather routing company in the world. Based in Stamford, Connecticut, maruFreight will provide ship and cargo owners with an efficient, cost-effective platform for matching cargoes with suitable ships.
Port Profile: New Haven, Connecticut
Connecticut’s largest and most diverse deepwater port complex, the Port of New Haven, moved more than 10 million tons in 2016, ranking the port 53rd in the U.S. in terms of cargo volume. Considered the busiest port between New York and Boston, the port of New Haven is a crucial part of Connecticut’s maritime economy. With seven privately-owned and operated terminals, New Haven is the gateway to New England and the primary point of entry for much of Connecticut’s heating oil and petroleum products.
Dorian LPG Sells, Leaseback Concorde
The Stamford, Connecticut-based Dorian LPG has reached a sale and bareboat charter arrangement for its 84,000 cbm carrier Concorde. The liquified petroleum gas shipping company entered into the USD 70 million deal that closed on January 31, 2018, resulting in net cash proceeds of USD 56 million. "We have entered into a sale and bareboat charter arrangement that closed on January 31, 2018 for the Concorde, which was previously financed under the 2015 Debt Facility. The net proceeds from the transaction amounted to $56.0 million…
Thome's Strategies Outlined at CMA
Gautam Kashyap, Thome’s Vice President for Business Development, outlined the group’s strategies for success at the 2018 Connecticut Maritime Association (CMA) Shipping 2018 conference. “Ship Management is changing and the right mix of digitalization, automation and data analytics are key criteria towards providing greater efficiency, transparency and value-added services to clients in the future,” he said. Ship managers will need to invest heavily in new technology to keep up with changes in the market and Thome has already started this process by developing an Operations Hub…
Ørbeck-Nilssen Sets Out Transformation of IACS at CMA
Speaking at Shipping 2018, the Connecticut Maritime Association’s (CMA) annual conference, Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime and IACS Chairman, looked at some of the initiatives taken at the International Association of Classification Societies (IACS) that were changing the organization. “It is my duty and honor to encourage the world’s biggest classification societies to pull together to adapt to this rapid pace of change and create a strong foundation for IACS as the leading maritime technical association,” Ørbeck-Nilssen said.
Port Tampa Bay selected as Port Executive Management Center
The International Association of Maritime and Port Professionals (IAMPE) stated that Port Tampa Bay has been selected as the Port Executive Management Center for the State of Florida. The Port will host advanced educational and training for port executives at the State’s seaports as well as from other ports throughout the Gulf of Mexico. The new center joins centers at the Loeb-Sullivan School at Maine Maritime Academy and the Maine Port Authority (Port of Portland) for providing programs for advanced executive management education and certification.
Interlake Charters Barge for Great Lakes Service
Ohio-based shipping firm the Interlake Steamship Company announced it will time charter a 418-foot, 14,400-short-ton capacity dry cargo barge from the U.S. East Coast to operate on the Great Lakes starting this spring.The single-hold covered hopper barge Montville, owned and operated by Connecticut-based towing services provider Moran Towing Corp, will be under charter through 2019 with options to extend.The time charter deal marks a first for Great Lakes carrier Interlake, whose owned fleet includes nine self-unloading vessels ranging in carrying capacity from 24,000 to 68,000 gross tons.