President Donald Trump has announced his intention to nominate Mark H. Buzby of Virginia to the position of Maritime Administrator at the Department of Transportation's Maritime Administration (MARAD). Rear Admiral Buzby is a retired Navy Rear Admiral with 34 years of experience serving in at-sea billets, primarily in cruisers and destroyers. During his career, Buzby … [Read more...]
Shipping Industry Unites to Propose Ambitious CO2 Reduction Objectives to IMO
Four prominent international trade associations have banded together in issuing a joint proposal to the UN International Maritime Organization (IMO) concerning ambitious CO2 reductions by the international shipping sector, which is responsible for transporting about 90% of global trade and 2.2% of the world's annual man-made CO2 emissions. The four associations issuing … [Read more...]
Ritz-Carlton Launching Luxury Cruise Line With Three New Ships
By Nikki Ekstein (Bloomberg) -- Want to cash in your SPG and Marriott points for a yacht cruise? That may soon be possible, as Ritz-Carlton, Marriott International Inc.'s flagship luxury brand, announced a seafaring expansion Thursday. As part of the newly minted Ritz-Carlton Yacht Collection, the five-star hotel brand will launch three small, ultra-luxury ships with … [Read more...]
Fitch: Global Ports Sector Faces Structurally Slower Growth
LONDON, June 22 (Fitch) Traffic growth in the ports sector is likely to remain well below historical levels for the foreseeable future, due to fundamental structural changes in the industry and global trade, Fitch Ratings says. A move towards protectionism would represent a significant additional risk, with the potential to reverse sector growth. Global port traffic growth … [Read more...]
With 3 Named Storms Already, What Should We Expect for the Remainder 2017 North Atlantic Hurricane Season?
By Fred Pickhardt (Ocean Weather Services) - Given the unusual occurrence of 3 named tropical cyclones prior to the end of June, one might ask what should we expect for the remainder of the 2017 hurricane season? A number of forecast centers have already made their predictions for the 2017 hurricane season with most sources predicting either a normal to somewhat above normal … [Read more...]
Tropical Storm Cindy Crimps Shipping, Forces Energy Workers Out of Gulf
By Brian K. Sullivan (Bloomberg) -- Tropical Storm Cindy, which has already shut energy production in the Gulf of Mexico, disrupted shipping and forced workers off oil and gas platforms, is now bearing down on the Texas-Louisiana coastline. With top winds of 50 miles (80 kilometers) an hour, down from 60 mph earlier, the system is moving northwest toward the coast about 160 … [Read more...]
Evergreen Looks Single and Happy in Container Shipping Love-Fest
By David Fickling (Bloomberg Gadfly) -- While wedding bells have been ringing out across the global shipping industry, Taiwan's biggest container line, Evergreen Marine Corp., has remained aloof. If mergers currently awaiting approval go ahead, the market share of the top five container lines will rise to 60 percent, from about 49 percent 18 months ago. With the last of the … [Read more...]
