Vigor Industrial Sold to Private Equity Firm; Will Merge with MHI Holdings
Global investment firm The Carlyle Group and private equity firm Stellex Capital Management announced a definitive agreement to acquire and merge shipbuilder Vigor Industrial LLC, Portland, Ore., and MHI Holdings LLC, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Va. The combined company will create a bicoastal company involved in ship repair services and commercial and defense-related fabrication services. Read more HERE.
U.S. DOT Proposes $856 Million in INFRA Grants
The U.S. Department of Transportation (DOT) has announced $855,950,000 in proposed grants through the Infrastructure for Rebuilding America (INFRA) discretionary grant program. The funding targets major highways, bridges, ports, and railroads around the country. The American Association of Port Authorities notes that of the 20 projects, three are port-related - in Baltimore, Cleveland, and Miami.
United States Army Puts Watercraft Sell-Off on Hold
The United States Army is putting its plan to divest nearly all its Army watercraft on hold. The cease order came from the office of the Secretary of the Army Ryan McCarthy in a memo late Wednesday. Units have also been ordered to put on hold the inactivation of watercraft positions and the transfer of Army mariners to other non-watercraft units. Those in favor of the sale argue that the assets were no longer needed due to the Navy’s introduction of Expeditionary Transfer Docks and the proposed replacement of the Navy’s LCAC fleet. However, experts say U.S. Army’s maritime capabilities would be drastically reduced under the plan.
Great Lakes Region Creates 123K+ Maritime Jobs
According to a new study conducted by PricewaterhouseCoopers (PwC) on behalf of Transportation Institute (TI), the Jones Act continues to fuel a strong maritime industry throughout the Great Lakes region, where the PwC report shows 123,670 Jones Act-related jobs – or 20% of the national total – are based. Between 2011 and 2016, maritime employment in the region increased by 25,400 jobs. Overall, the industry generates $30 billion of economic activity and $8.45 billion in worker income in the eight Great Lakes states.
Sea Machines and MARAD to Demonstrate Autonomous Tech in Oil-Spill Response Operations
Boston-based Sea Machines Robotics says it has entered into cooperative agreement with the U.S. Maritime Administration to test the use of autonomous technology in marine oil-spill response operations. Under the agreement, Sea Machines will install its autonomous-command system aboard a MARCO skimming vessel and execute simulated oil-spill recovery exercises in the harbor of Portland, Maine. The purpose of the test is to demonstrate the ability of Sea Machines’ autonomous technology in increasing the safety, response time, and productivity of marine oil-spill response operations.
Port of LA Sets Up New Cybersecurity Coordination Center
Los Angeles' harbor department has issued an RFP for a new privately-operated cyber resilience center for the Port of Los Angeles. In addition to defensive measures, the center would provide information resources that terminals and other port partners could use to help restore operations following an attack. In part, this will take the form of a secure cyber threat data portal, accessible through stakeholders' dashboards and mobile devices, along with real-time threat notifications.
Imports Fuel Port of Virginia’s Record Fiscal Year 2019
The Port of Virginia handled a record 2.9 million TEUs in fiscal year 2019, a result mainly driven by an increase in imports. The result represents an increase of 4 percent when compared with last fiscal year.
Tank Barge Deliveries Spiking in 2019
According to River Transport News, the pace of inland tank barge deliveries during the first half of 2019 are up 52% compared to this time last year. However, deliveries of inland tank barges dropped significantly during the first six months of 2019, falling from 30 deliveries during the first half of 2018 to 17 through June 2019.