U.S. oil and gas executives are predicting higher production and drilling activity next year as oil prices climb, but say they face sharply higher costs, according to a poll released on Wednesday by the Federal Reserve Bank of Dallas.Some 49% of executives surveyed said they aim to expand output next year
Tanker rates to ship liquefied natural gas (LNG) have more than doubled since the start of the month as a power crisis in Asia and Europe drives up demand for vessels, industry sources said on Tuesday.The daily charter rate for a tri-fuel diesel-electric (TFDE) vessel that can carry 160,000 cubic meters of LNG to Pacific basin ports rose to $202,500 a day on Tuesday, the highest since Jan.
If suppliers in China fail to pick up freight containers to fill an order for MediaShop, Marcel Schneider gets an alert via a digital freight system, allowing the retailer to reach out and fix the problem swiftly.Before July 2020, Austria-based MediaShop’s deputy supply chain director says he would discover problems in his supply chain only when containers failed to arrive in Hamburg as scheduled.
The Transportation Department said on Tuesday it was evaluating whether a temporary waiver of the Jones Act is needed to ensure sufficient gasoline supply to some U.S. states after the ransomware attack on Colonial Pipeline."The U.S. Department of Transportation (USDOT) has started the work needed to enable consideration of a temporary and targeted waiver of the Jones Act," the department said.
If you’ve perused social media in recent weeks, you may have come across people singing chanteys, which were work songs employed on merchant sailing ships.Historically, chanteys – which are also spelled as “shanties” or “chanties” – began with a sing-out by a crew member recognized as “the chanteyman,” usually someone prized for his voice and ability to extemporize.
President Joe Biden on Monday signed an executive order aiming to use government spending to strengthen domestic manufacturing and create markets for new technologies, in a move widely praised by America's maritime industry.The executive order, titled Strengthening "Buy American" Provisions, Ensuring Future of America is Made in America by All of America’s Workers"
The Biden Administration’s struggles to alleviate supply chain capacity issues appear to be continuing with no end in sight. Part of the issue arises from the Administration’s limited focus on ports and another part arises from Congressional stalemates. Could the much-needed beltway leadership on these issues come in the form of the newly-tapped Maritime Administrator?Biden focuses on ports to
The 11th Annual Maritime Risk Symposium: A Virtual Event Exploring All Too Real RisksThe past year has been as impactful for the world’s maritime transportation xystem as it has been for the rest of society. From the Suez Canal to the Arctic and beyond, human, technology and environmental events disrupted maritime activity.
The U.S. Coast Guard on Thursday commissioned three new Fast Response Cutters at a ceremony presided over by Adm. Karl Schultz, the Coast Guard’s commandant.The Coast Guard Cutters Myrtle Hazard (WPC 1139), Oliver Henry (WPC 1140) and Frederick Hatch (WPC 1143) were commissioned during what the USCG said was a rare triple-commissioning ceremony at the new homeport at Coast Guard Forces
Take a look around you.Perhaps you’re snacking on a banana, sipping some coffee or sitting in front of your computer and taking a break from work to read this article. Most likely, those goods—as well as your smartphone, refrigerator and virtually every other object in your home—were once loaded onto a large container in another country and traveled thousands of miles via ships crossing the
Canadian shipping company Algoma Central Corporation announced Monday that it has taken delivery of its new dry bulk carrier Captain Henry Jackman from the Jiangsu Yangzi-Mitsui Shipbuilding Company in China.The vessel is expected to begin trading on the Great Lakes in late June following its transit from China to Canada via the Panama Canal. The voyage is scheduled to commence in mid-April.
Newport, R.I. has been chosen as the future homeport for a new NOAA oceanographic research vessel being built for the agency. Discoverer will be a state-of-the-art ship that operates around the nation and the world to study and explore the ocean.“Discoverer will be one of the world’s most advanced research vessels,” said Rear Adm.