The CMA CGM Antoine de Saint Exupery container ship sits docked during its official inauguration in Le Havre, France September 6, 2018. REUTERS/Benoit Tessier French shipping group CMA CGM inaugurated its new flagship vessel CMA CGM Antoine De Saint Exupery this week in Le Havre, France. At 400-meters long by 59-meter wide, the vessel has the capacity to carry 20,600 twenty-foot containers, making it the largest to sail under the French flag. CMA CGM took delivery of the CMA
A decommissioned oil rig and ship stand ready to be scrapped at the Alang shipyard in western India in May 2018. PHOTO: AMIT DAVE/REUTERS ATHENS—Dire freight rates are pushing shipowners to scrap a record number of the biggest oil tankers this year, making it a bumper period for recycling yards in South Asia. Very large crude carriers, or VLCCs, move much of the world’s oil across the oceans. But there are far too many in operation in a shrinking market. Major oil producing c
WASHINGTON — A key federal agency on Monday announced plans to set aside a record amount of funding for the Savannah harbor deepening project following an intense lobbying campaign by the state and its allies. The U.S. Army Corps of Engineers said it plans to spend nearly $35 million on the roughly $1 billion project in its 2018 budget work plan. That’s in addition to the $50 million Congress had carved out for Savannah in its March government spending package, on its own a h
The U.S. Army Corps of Engineers is pitching in to help finance the Port of Corpus Christi's long-pursued plan to deepen and widen its ship channel. The Army Corps of Engineers' Work Plan for 2018, released Monday, included nearly $23 million in its navigation construction budget that is to be applied to the Corpus Christi Channel Improvement Project. Port officials said the funds will pay for the second of six contracts on the project, and will extend construction from the e
Widening and deepening our ship channel is a matter of international strategic geopolitical and economic importance. U.S. energy production and export, if enabled fully by projects such as this, can do one of two important things: Stop the world's energy superpowers from using their supplies to coerce the have-nots, or, failing that, make sure we're the ones doing the coercing. Using energy to help less-developed countries develop is more than a diplomatic and economic missio
Texas Railroad Commissioner Ryan Sitton is providing important advocacy for the Port of Corpus Christi's overdue ship channel widening and deepening project. Editorial Board, Corpus Christi Caller-Times (LINK TO VIDEO REGARDING ARTICLE) We weren't, as the cliche goes, looking a gift horse in the mouth. Rather, we were making sure that the gift horse was — to mix metaphors — a bird in the hand, not two in the bush. We are thrilled and relieved the port isn't totally on its own
The U.S. Army Corps of Engineers, Charleston District, last week hosted a tour of the dredger Texas, a cutter suction dredging vessel currently working in the Charleston Harbor Entrance Channel on the Post 45 Deepening Project. The Charleston Harbor Post 45 Deepening Project looks to address transportation inefficiencies by deepening and widening Charleston Harbor to allow for growth in the shipping industry with the influx of Post-Panamax ships calling on port in the Lowcoun
The shipping industry will this year scrap the largest number of oil tankers in over half-a-decade, driven by weak earnings, firm prices for scrap steel and the need to prepare fleets for strict new environmental regulations.
The surge in scrapping underscores how the sector is grappling with one of its worst-ever crises, hit hard after rates for transporting oil plunged to multi-year lows in the wake of excess tanker supply and tepid demand as OPEC production cuts bite.
The Virginia Port Authority has received the green light on $350 million for a dredging project to deepen its harbor from 50 feet to 55 feet by 2024, with the aim of being able to handle up to 19,000-TEU ships transiting through the Suez Canal. The state budget was hammered out by lawmakers in a special session and sent to Gov. Ralph Northam on May 30. The final document includes $20 million in design funds and authorization to issue $330 million in state-back bonds to pay fo
Jones Act Continues to Deliver for American Merchant Vessel US – The US Department of Transportation's (USDOT) Maritime Administration (MARAD) has announced the availability of $19.6 million in federal funding to support capital improvements and employee training at small US shipyards. The grants are provided through the Small Shipyard Grant Program, and is aimed at helping eligible shipyards modernize operations, increase efficiency and reap the benefits of increased product