The environment in oil patches onshore and offshore alike has been challenging throughout 2019; worries about an economic slowdown – whether cyclical or induced by a trade war – have weighed heavily on oil prices, even in the face of reduced production by the big producers. Though storm clouds persist, there appears a clearing on the horizon.
A ‘work in progress,’ the North American brown water, shallow draft sectors have experienced a tumultuous year of evolution, changing market conditions, a rapidly shifting regulatory environment and new opportunities. Anything but boring; and within the pages of Maritime Reporter’ & Engineering News’ Annual Yearbook, Joseph Keefe, editor of sister-publication MarineNews
Any analysis of markets for offshore service vessels (OSV) usually begins with analogies to rough weather, best of times/worst of times or similar. OSV expert Seabrokers, with a home base in Stavanger, Norway, in the February edition of its Seabreeze market report follows this convention with a description of the “feast or famine” conditions in the North Sea.
US Offshore Support Vessel Analysis 2018 and 2019. The US GOM Offshore Support Vessel (OSV) market is suffering, utilization remains poor, and many owners are still squeezed financially. However, a poor market forces people to adapt and for those willing to take risks, the upside can be extremely large.US Owners 2018 vs.
NorthStar Midstream, a portfolio company of funds managed by Oaktree Capital Management, L.P., has announced the formation of Polaris New Energy (“PNE”), a marine transportation company focused on the transportation and distribution of liquefied natural gas (LNG) along the coastal and inland waterways of the United States.
U.S. Customs and Border Protection’s (CBP) Area Port of Philadelphia seized the MSC Gayane Thursday following a record seizure of 20 tons of cocaine on June 17.Upon application from the U.S. Attorney’s Office for the Eastern District of Pennsylvania, the United States District Court for the Eastern District of Pennsylvania issued a seizure warrant for the vessel.
A U.S. Customs and Border Protection (CBP) and Immigration and Customs Enforcement Homeland Security Investigations (HSI)-led multi-agency examination of shipping containers at the Philadelphia seaport netted a historic load of cocaine, the largest cocaine seizure in the 230-year history of U.S. Customs and CBP, with an estimated weight of over 17.5 tons and a street value of about $1.1 billion.
Bringing the world of containerized cargo to young readers.This rhyming children’s book follows Casey the Container, a new shipping container, along her journey on her first day in port. Casey meets new friends, experiences the workings of the waterfront, and learns the important role containers play in our world.
CBP Intercepts Five Destructive Asian Gypsy Moth Egg Masses on Three Vessels.According to the U.S. Department of Agriculture (USDA), Asian Gypsy Moths are one of the most destructive insect pests in the world. They are not known to occur in the United States, yet they are knocking on our doorsteps. Three recent U.S.
Two more employees of Ripley Entertainment, Inc. – the company that operated duck boat rides in Branson, Missouri – along with the captain of the duck boat that sank at Table Rock Lake last summer, resulting in the deaths of 17 people, have been indicted by a federal grand jury.Curtis P. Lanham, 36, of Galena, Missouri, and Charles V.
U.S. Customs and Border Protection (CBP) agriculture specialists intercepted 146 destructive Asian Gypsy Moth egg masses on four ships recently in the port of Baltimore.Asian Gypsy Moth (AGM) is one of the most destructive insect pests in the world. They are not known to occur in the United States.
The former chairman of the Port of New Orleans Board of Commissioners Joe Toomy is rejoining the group.Gov. John Bel Edwards reappointed Joseph F. Toomy to the Board of Commissioners of the Port of New Orleans.Toomy was sworn in during today’s monthly board meeting and will serve a five-year term succeeding Laney J.