Why insurers cannot afford to be left behindAccording to Maersk, “everything that can be digitized will be digitized”, and there is no doubt that the world of shipping is currently undergoing a digital revolution. From vessel movement data to port statistics and engine diagnostics and data, the latest technology empowers insurers to segment and optimize their existing portfolio
Port officials on Tuesday are expected to consider $300 million in financing that would prepare the country's largest oil-export port - Corpus Christi, Texas - to handle a surge in U.S. shale production over the next five years.International buyers would like more U.S. crude but are unable to get it because of infrastructure constraints along the U.S. Gulf Coast.
A subsidiary of Carnival Corporation has reached a deal to purchase port, railroad and retail operations that form a gateway to the Klondike Gold Rush region, in a major push into the Alaskan tourism industry.Carnival, the world’s largest cruise and leisure travel company, announced Thursday it has entered a purchase and sale agreement through its subsidiary Holland America Princess Alaska Tours
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday to near 15-week highs, boosted by rising rates for capesize vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 25 points, or about 2 percent, at 1,306 points, its highest since Jan. 10.
St. Louis Regional Freightway, Port of Plaquemines and St. Louis Regional Ports Sign Agreement to Foster Economic Growth on the Mississippi River. The pact will help support development of a new transportation link for cargo to move along the Mississippi River. The St. Louis Regional Freightway
Offshore wind power continues to gain momentum in the United States. How will the Jones Act affect the development, operation and maintenance of offshore wind farms? After years of planning and some unsuccessful attempts, offshore wind power developers finally have their first success in the United States.
Methane Spirit, a liquefied natural gas tanker, said on Thursday it would arrive at Dominion Energy Inc's Cove Point LNG export facility in Maryland around March 31, according to Reuters shipping data. If correct, that could be the first vessel to pick up a cargo from the LNG facility, which Virginia-based Dominion said it expects to enter service in March.
The built-for-purpose National Security Multi-Mission Vessel (NSMV) training ship comes to life. Anybody who has spent four years at a State Maritime Academy (SMA) has also spent time at sea on a Marad-owned training vessel. Today, these platforms are long in the tooth, equipped with outdated equipment and not necessarily conducive to the task of training cadets for a future career at sea.
The Baltic Exchange's main sea freight index fell on Friday and continued to linger around five month lows as the capesize segment recorded its biggest weekly percentage decline in two years. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, shed 14 points, or 1.
Coast Guard and partner agency crews responded to a ferry aground with 27 people aboard near Rockaway Inlet, New York, Wednesday evening. The Flyer, an 80-foot New York City Ferry became stuck on a sandbar after departing from the Rockaway terminal at 5:15 p.m., en route to Wall Street’s Pier 11 at approximately 5:30 p.m.
The first liquefied natural gas vessel, the Maran Gas Delphi, was headed Thursday for Dominion Energy Inc's Cove Point LNG export facility in Maryland, a Reuters interactive map showed, with the facility expected to enter service by the end of the year. Cove Point will be the second large LNG export terminal in the lower 48 U.S.
U.S. Maritime Adminstrator Mark Buzby issues statement on ‘full accreditation’ from third party auditors. The U.S. Maritime Administrator last week issued a statement announcing full accreditation of the United States Merchant Marine Academy at Kings Point from the Middle States Commission on Higher Education.