Port of Virginia Posts Record July Volumes
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.
Carnival Names Anderson as Chief Ethics & Compliance Officer
Carnival Corporation announced the appointment of Peter C. Anderson to the newly created position of chief ethics and compliance officer. Based at the company’s headquarters in Miami, Anderson will be a member of the executive leadership team and report directly to Carnival Corporation President and CEO Arnold Donald.Anderson is a former federal prosecutor with over 20 years of experience in corporate compliance. He had previously been the head of the White Collar and Compliance Group at the law firm of Beveridge & Diamond…
Retail Imports at Near-Record Levels Despite Tariffs
Imports at the nation’s major retail container ports are expected to continue at near-record levels this month and the remainder of the year despite a new round of tariffs on goods from China, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.“Even with virtually everything American imports from China soon to be subject to tariffs, it isn’t quick or easy for retailers to change their supply chains,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
GLDD Reports 2019 Q2 Financials
Great Lakes Dredge & Dock Corporation (Nasdaq:GLDD), a provider of dredging services in the United States, has reported financial results for the quarter ended June 30, 2019. The company weighs in as follows:Second Quarter 2019 Highlights•Revenue was $184.8 million in the second quarter, a $49.5 million or 36.6% increase over the prior year quarter.•Gross margin percentage increased to 20.3% in the second quarter from 16.4% in the prior year quarter.•Total operating income from continuing operations was $22.8 million…
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.
USCG Seeking SME's for Working Groups
The National Maritime Center is still seeking participants for the three remaining merchant mariner examination working group meetings in 2019.Deck working group – September 10-12Engine working group – October 22-24Deck working group – December 3-5Examination reviews are currently scheduled to take place at the National Maritime Center in Martinsburg, West Virginia. However, dates and locations may change based on the number of attendees.Section 315 of the 2015 Coast Guard Authorization…
Vigor, MHI Acquired and Merged
In one a dramatic U.S. shipbuilding and repair move it was announced today that The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management signed a definitive agreement to acquire and merge Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Oregon, and MHI Holdings LLC, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Virginia.The transaction, subject to customary closing conditions…
Port of Virginia Completes $320M Expansion
Governor Ralph Northam announced the completion of the Port of Virginia’s $320 million expansion at the Virginia International Gateway container terminal. The Governor was joined by U.S. Maritime Administrator Rear Admiral Mark Buzby, Virginia Secretary of Transportation Shannon Valentine, and Virginia Port Authority CEO and Executive Director John Reinhart. This project is part of a larger, $700 million project, begun in February 2017, to expand the Port’s two primary container…
INSIGHTS: John F. Reinhart, CEO, Virginia Port Authority (VPA)
John F. Reinhart is the CEO and executive director of the Virginia Port Authority (VPA). He is responsible for the broad programmatic areas of business development and growth, strategic marketing, finance, and operations of Virginia’s marine terminal facilities: Virginia International Gateway, Newport News Marine Terminal, Norfolk International Terminals, Portsmouth Marine Terminal, Richmond Marine Terminal and the Virginia Inland Port.Under his leadership, the goal has been to…
Will High-Speed Container Transport Ever Work?
Every few years I am handed a high-speed container transport proposal. Generally it consists of some type of high speed vessel design that would be able to move containers at high speed and thereby attract a new market by taking a chunk out of the air cargo market and the premium ocean market. Occasionally we are asked to look at the economics for potential investors, and it always falls short of being economically viable. While it is possible to move containers a little quicker over the ocean with faster vessels…
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.
Port of Virginia Posts its Busiest May
Record cargo volumes are moving across The Port of Virginia and doing so with efficiency as a result of expanded container handling capacity at its two primary container terminals.In May, the port processed nearly 261,000 TEUs (twenty-foot equivalent units) making it the busiest May in the port’s history. The month’s strong cargo volumes were a follow-up to the best April in the port’s history, when nearly 246,000 TEUs were processed.May saw increases across almost all phases of the operation.
Propeller Club Promotes Relationship with Congress
In his role as the new Executive Vice President of the International Propeller Club of the United States (IPCUS), John Cullather, is setting a course for the 50 American-based clubs, specifically, that involve streamlining and improving communication between ports and maritime policy issues and members of Congress.“Congress has played a vital role in U.S. ports since the founding of our nation,” says Cullather. “From the dredging of our harbors to the construction of lighthouses and the installation of aids-to-navigation…
CONTAINER PORTS: Boxed in or Busting Out?
Benchmarking the Nation’s top container ports in 2018 and looking ahead to what comes next.The nation’s major ports finished 2018 and began 2019 setting monthly and yearly container volume records, but agitated trade activity in the White House raised questions about what corrections would be permanent and which would not.President Donald Trump said on Febuary 24 he is delaying the scheduled March 1 increase in the tariffs on $200 billion in Chinese imports. The president said on Twitter he wants to give negotiators more time to reach a comprehensive trade deal with Beijing.
Tolley to Join Intelsat as EVP & CFO
Intelsat has announced the appointment of David M. Tolley as Executive Vice President and Chief Financial Officer, effective June 3, 2019.Tolley will report to Intelsat’s Chief Executive Officer, Stephen Spengler, and oversee Intelsat’s global finance organization. He will serve on Intelsat’s Management Committee and be based in the company’s U.S. administrative headquarters in McLean, Virginia.Tolley brings over 20 years of financial experience to Intelsat. He most recently served…
U.S. Dredgers Applaud President for Jones Act Support
Wednesday, 1 May: Late this afternoon, President Donald Trump met with Congressional leaders from the Senate and House to discuss U.S. Maritime Policy. On the table was the Jones Act. President Trump assured the Congressional leaders that he is not seeking any changes to the Jones Act, nor is he seeking any waivers.“President Trump had the Jones Act matters all under control from the get-go”, said William P. Doyle, CEO & Executive Director of the Dredging Contractors of America. “Mr. Trump is all about jobs and national security — he’s never wavered on this.
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.
Maritime Hall of Fame Inductees Announced
26th Annual Maritime Hall of Fame Honors Five International Leaders, May 8, at the Grand Hyatt New York, New York City The Maritime Association of the Port of NY/NJ founded the annual International Maritime Hall of Fame in 1993 to recognize maritime visionaries who, through excellence in their company, organization, or services, best exemplify the qualities of futuristic thinking that will guide the maritime industry in the 21st Century. The five honorees are:Harold J. DaggettInternational President…
U.S. Lawmakers Seek Massive Infrastructure Funding
Democratic leaders in Congress said on Thursday they would seek President Donald Trump's support in coming weeks for legislation to invest up to $2 trillion to rebuild U.S. infrastructure, including roads, bridges and schools.House of Representatives Speaker Nancy Pelosi and Senate Democratic leader Chuck Schumer said at separate news conferences they would try to revive an effort that sputtered early in Trump's presidency for major investments in aging public works.The White…
Imports at Annual Low on Seasonal Lull, Tariff Worries
With the retail industry in its annual lull between seasons and plans for a tariff increase on hold, imports at the nation’s major retail container ports are expected to drop to their lowest level in almost a year this month, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.“Now that the holiday season is over and summer has yet to crank up, this is the quiet time of year for retail supply chains,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
Inland Port Development: Take the train
The intermodal equation for any deep draft port is incomplete without its inland component.It’s definitely a work in progress.There are inland ports in the truest sense: major lakefront and riverfront cities such as Chicago and St. Louis, including even Duluth and Tulsa, with vast distribution areas, wildly varying cargo, roads, trains and waterways to serve them.And, then, there are inland ports, dry ports that have vast distribution areas, containerized cargo delivered from true oceanfront ports…
DCP Sells Terminals to NGL
Delaware-based NGL Energy Partners and Colorado's DCP Midstream have executed a purchase and sale agreement under which DCP will convey to NGL its wholesale propane business, generally consisting of seven natural gas liquids terminals in the Eastern United States.Under the terms of the agreement, NGL will acquire 100% ownership of five propane rail terminals operated by Gas Supply Resources, a subsidiary of DCP, and 50% ownership interest in a sixth propane rail terminal.The agreement also includes an import/export terminal located in Chesapeake…
BIMCO: US Box Imports Break Records Despite Uncertainty Ahead
Container imports on both the US East Coast (USEC) and West Coast (USWC) had a strong year in 2018, growing 3.7% and 8% respectively in the first 11 months of the year compared to the same period in 2017.Record high levels of inbound laden containers were experienced on both coasts in October with the USWC at 1.09 million TEU and the USEC at 0.91 million TEU according to BIMCO’s own data.The first two months of 2018 saw the USWC coast’s laden imports increase 11.7% from the start of 2017, with the accumulated growth rate then stabilising to around 4% for the rest of the year.
China-U.S. Trade Talks a Tonic to Battered Markets
World stock markets rallied on Friday after Beijing announced a new round of trade talks with Washington, though recession fears still had markets betting the next move in U.S. interest rates might be down.News that the United States and China would hold vice-ministerial level talks on Monday and Tuesday to resolve a trade dispute bought some respite to battered markets, with MSCI's world stock index up a third of a percent and U.S. stock futures around 1 percent firmer ."We're not expecting a major breakthrough on Jan.
International Propeller Club Looks for new Executive VP
The International Propeller Club of the United States is looking for a new Executive Vice President to lead its Fairfax, Virginia office in early 2019.The International Propeller Club is an international business network dedicated to the promotion of the maritime industry, commerce, and global trade. It has 5,000 members in more than 75 ports around the world who represent a cross-section of the maritime industry. The Propeller Club is ninety-one years old and serves as the premier…
14 Port-related Projects Awarded BUILD Grants
U.S. Transportation Secretary Elaine L. Chao has (Dec. 11) announced $1.5 billion in discretionary grant funding to 91 projects in 49 states and the District of Columbia. The grants, 14 of which will go to port-related projects, are made through the Better Utilizing Investments to Leverage Development (BUILD) Transportation Grants program and support road, rail, transit, and port infrastructure projects across the country.Port-related projects will receive a total of $229.23 million…