Atlantic Offshore Wind: Favorable Winds for Maritime
Now that the United States finally can envision steady winds blowing from the Atlantic Seaboard due to a pipeline of offshore wind farms on the horizon, the maritime industry can finally step up and earn some of the benefits. This includes shipbuilding, port construction, and worker training. This article reviews the key developments and forecasts the growth in maritime jobs.The federal and state governments share responsibility for developing offshore wind farms and bringing the wind into the power grid and…
VA Offshore Wind: A Strong Foundation
Virginia officials have established a well-planned, extensive strategy to build out an offshore wind industry, including wind towers for electricity generation and the supply chain to support that extensive infrastructure and operations. The State’s big picture is ambitious: developing 2,000 MW of offshore wind by 2028.As currently envisioned, VA’s offshore wind development will likely start this year with two 8-megawatt wind turbines 27 miles off the coast of Virginia Beach.
Harvey Gulf Emerges From Chapter 11 Proceedings
Harvey Gulf International Marine announced that it has completed its financial restructuring and emerged from Chapter 11 Bankruptcy proceedings. This marks the completion of the Plan of Reorganization approved by the bankruptcy court, 77 days following Harvey Gulf’s prepackaged filing. Under the reorganization, Harvey Gulf has shed approximately $1 Billion in debt and emerges with a dramatically de-leveraged balance sheet. Additionally, the Company has kept its commitments to its trade vendors, paying all unsecured claims in full.
NAMEPA Heads to Houston
North American Marine Industries Head to Houston for NAMEPA Event. The world’s energy capital of Houston will be the host next month for a look into the future of the marine industry. NAMEPA (North American Marine Environment Protection Association) is holding a conference on February 18th entitled “Fast forward into the Future of Maritime. The event will be hosted at The Houstonian Hotel running from 0800-1800hrs. The “Fast Forward into the Future of Maritime” conference features a world economic overview from Dr.
Buckeye Pipeline Quietly Makes Key Acquisition
Houston-based logistic firm Buckeye Partners has spent more than $3.5 billion buying assets since 2010, transforming itself from a quiet regional pipeline utility into an emerging energy powerhouse. But the acquisition that may best symbolize its evolution is one the company didn't tout to investors this summer: a Washington lobbyist. After spending most of the past century pumping fuel from one place to another, the 128-year-old company has become a key player in the import and export of North American oil…
MARAD's Jaenichen to Open NAMEPA 'Winds of Change' Conference
Acting Maritime Administrator, Paul “Chip” Jaenichen will open the “Winds of Change in Shipping” conference being hosted by NAMEPA (North American Marine Environment Protection Association) in Houston along with the WGMA (West Gulf Maritime Association) on February 19, 2014. The next day, February 20th, NAMEPA is partnering with NOIA (National Ocean Industries Association) to present the “Winds of Change in Offshore Oil and Gas”. Adding even more luster to this period is the inaugural Lloyd’s List North American Awards Dinner on February 19th…
Maritime Pollution and Other Legislation Outlook 2012
It has been almost two years since the Deepwater Horizon incident occurred on April 20, 2010. As a result of this incident, although there have been many bills introduced in Congress to address issues raised by this incident, as well as numerous related hearings, Congress was unable to see the way clear to actually enact any pollution-related legislation, or for that matter any substantial maritime legislation in 2011. The following is a summary of the action taken by Congress last year and a perspective on such legislation for 2012.