Parker, Barry
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07 Aug 2024
Offshore Wind: Inside the Financial Web
Early 2024 saw a group of financial deals that have implications, in a broad sense, for how offshore wind projects may be financed. While offshore wind projects might be thought of as being in the ‘utility finance’ basket, they are ultimately high-risk deals that might better suit the portfolios of ‘infrastructure investment’ which, in recent years, has taken a shift towards tolerating more uncertainty when it comes to cash flows.A 2022 article from consultants McKinsey…
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18 Apr 2024
Marine News' 2024 US Shipbuilding Report
If nothing else, building vessels in the U.S. is a complicated business.In a session on the domestic shipbuilding marketplace, at Marine Money’s late-November 2023 conference held in New Orleans, Ben Bordelon, president and CEO of Bollinger Shipyards (with more than a dozen facilities, in Mississippi and Louisiana), described his company’s architecture as a “three-legged stool approach: commercial newbuilds…
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28 Dec 2023
Workboat Power: Alternatives Join Diesel to Power Current—and Future—Vessels
Analysts and commentators are quick to point out that fossil fuels will power maritime equipment, and indeed dominate the fueling marketplace, well into the future. However, they will do so alongside new fuels, and new technologies, that will be introduced to the maritime sector in the coming years. In its September, 2023 report “Beyond the Horizon: View of the Emerging Energy Value Chains”, the American Bureau of Shipping (ABS) explains that…
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02 Aug 2023
Future Fuels: Methanol
Any commentator on the maritime business decarbonization voyage will offer something along the lines of "There will be multiple fuels…" With the International Maritime Organization (IMO) meetings of its Maritime Environmental Protection Committee (MEPC) set for early July, it is likely that targets for emissions will be tightened. Whatever mileposts that the IMO actually establishes, there will be no prescriptions handed down on how to get there.
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05 Jun 2023
Powering the North American Maritime Fuel Transition
Offshore service vessels, along with workboats serving harbors and inland rivers, have embarked on an industry-wide voyage toward reduced emissions of greenhouse gasses. Professor Craig Philip, a faculty member with Vanderbilt University’s Center for Transportation and Operational Resilience (VECTOR) and former CEO of Ingram Barge Company, provides this context: “The Maritime Sector has long provided shippers with the most fuel-efficient and sustainable freight transport option…
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03 May 2023
'Hydrogen Hubs' to the Fore
The path to decarbonization is defined by partnership and fueled by government funding. This month we examine the players, partnerships, and evolution of Hydrogen Hubs in the Gulf of Mexico.The Green Shipping Challenge, organized by the United States and Norway at COP 27 held in late 2022, brought about dozens of announcements on maritime decarbonization. Among these was a joint statement from the…
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16 Feb 2023
2023 Shipbuilding Report: US Passenger Vessels
With travel and tourism nearing pre-2020 levels, and transit systems benefiting from a return to work, passenger vessels have seen renewed activity. In its year-end review, John Groundwater, Executive Director of the Passenger Vessel Association (PVA), which advocates for the sector in Washington, D.C. wrote: “As we are nearing the end of the calendar year, we are delighted to report that our industry…
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25 Apr 2022
New Routines on the Bridge in the Digital World
Like every sector of cargo and passenger shipping, “digitalization”—where computerized processes are replacing onboard routines previously handled manually— is an ongoing trend coastwise, on the waterways and harbors. Regulatory compliance, especially with Subchapter M for towing vessels, has also driven choices of onboard equipment with digital interfaces to software and online platforms for record…
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07 Mar 2022
Recovery, Resilience and Demand Shifts to Drive Inland Waterway Cargo Flows
Waterway traffic is coming back. November 2021 saw 52.1 million tons moving on the U.S. inland waterway system, the highest monthly tonnage since October 2019, a few months before the onset of the COVID-19 pandemic, and the shutdowns and stoppages of early 2020. Flows estimated by the Bureau of Transportation Statistics (BTS), part of the U.S. Department of Transportation, based on data from the U.S. Army Corps of Engineers (USACE) show a 25% rise from June 2020.
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02 Feb 2022
Passenger Vessel Sector Faces Winding Path Back to ‘Normal’
The year just ended, 2021, might be described as being about “trying to get back to normal”, across the entire transportation spectrum, two years into the pandemic. During this time, the decarbonization and electrification waves have swept across maritime passenger transport. The passenger side of the business is dependent on multiple funding sources; increasingly, this money will be driven by environmental and social considerations.The long-awaited funding of “infrastructure”-related projects…
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18 Nov 2021
Leading the Charge
Alternatives to fossil fuels are emerging throughout the maritime universe, and vessels working in U.S. rivers, waterways and harbors are at the cusp on this trend. While the alternative fuels spectrum is wide, battery power and electrification—a technology that has seen a decade of shipboard applications already—is particularly suited for smaller vessels.Crowley Maritime Corp will be taking delivery of a completely electric tugboat…
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11 Oct 2021
Racing for 30GW—and a Piece of the US Offshore Wind Pie
“30 by 30” is the rallying cry for all concerned with the burgeoning U.S. offshore wind business. In Spring 2021, the Secretaries of Energy, Interior and Commerce resolved to deploy 30 gigawatts (GW) of electricity generated from offshore turbines by 2030. Consultants McKinsey, in a recent article frame the value proposition for this clean fuel source, writing: “During the industry’s 30-year evolution…
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20 Sep 2021
Expect the Unexpected on the Inland Waterways
Among transportation planners, “resilience”, describing the ability to bounce back from adversities, both economic and other, has become a top consideration as we increasingly must “expect the unexpected.” The U.S. waterway system, covering the network of inland rivers and coastwise waterways, has seen a mix of good and not so good. As the 2020-2021 pandemic moves toward winding down, a recovery from the dismal 2020 is underway, but activity on the rivers is uneven.
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17 Sep 2021
Supply Chain Shocks: Ocean Shipping Challenges Abound
Supply chain issues tied to liner shipping have been front page news throughout 2021; just about everyone agrees that there’s a problem. The underlying cause is right out of Economics 101: a surge in demand for moving containerized cargo, in the face of “inelastic” throughput capacity (which includes vessels and their landside interfaces to surface transportation, trucks and rail) that could not handle the swell…
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16 Aug 2021
Marine Autonomy: The Future is Being Revealed
Automation, where routine tasks are handled by machines, has been talked about throughout maritime sectors for much of the 21st Century. Initially touted by suppliers of engine room and bridge management systems for its cost savings (with reduced manning levels), its value proposition was then infused with risk management (reduced human error) and remote operations, where vessels could be managed from a shoreside control room.
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21 May 2021
The Shipping Industry Embraces Battery Power
The past decade has seen tight restrictions on emissions from vessels, notably with a 2015 move to a .10% sulfur maximum in Emission Control Areas (ECA) in North America and in northern Europe. As the International Maritime Organization (IMO) now shapes shipping’s decarbonization future, shipowners are looking at transitions away from fossil fuels. Among the myriad of alternatives are lithium ion batteries and some early forays into hydrogen fuel cells.To date…
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19 Apr 2021
Inside the Red-Hot Offshore Wind Energy Market
As the traditional offshore oil and gas markets continue to struggle, the renewable offshore wind market is hot and getting hotter.As the cumulative maritime, offshore, port and logistics marketplace gears up for offshore wind energy on a huge scale, World Energy Reports (WER), in its report “2021 The Year When Offshore Wind Takes Off in the United States,” shows the anticipated growth trajectory.
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12 Apr 2021
A Favorable Fetch for US Offshore Wind
Offshore wind caught a favorable gust with the 2020 election of Joe Biden, and the following breeze from the early 2021 reconfiguration of the U.S. Senate toward Democrats. Though widely touted as a growth engine for maritime businesses (as well as shoreside trades), the latter years of the Trump administration seemed to see delay after delay.The class society DNV has been involved in offshore wind since its outset in the early 1990s…
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18 Feb 2021
Inside Cruise Shipping's Fight for Survival
In early 2021, the somber news from the cruise sector continued. For some cruise brands, their own version of “lockdowns” will have spanned an entire year. By late January, 2021, Carnival and others were hesitantly pegging their restarts for April/May 2021, and for some markets, late summer, under a Conditional Sail Order promulgated late last year by the Centers for Disease Control and Prevention (CDC).What else to do but look ahead?In preliminary earnings guidance…
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15 Jan 2021
Fuel, Propulsion, Emissions & the Decision to Scrap or Refit
When the maritime history books are written, 2020 will be viewed as a year of pivots, re-invention and new paradigms. By February 2020, concerns about marine fuel’s sulfur content quickly shifted to near-term disruptions induced by the COVID-19 pandemic. By mid-year, with demand recovering, the conversation turned to longer term questions surrounding the moves towards reduced maritime carbon emissions and alternative fuels.
