Methanol has become the most popular alternative fuel for vessels in the global new build orderbook alongside LNG, but its high cost has kept operators from signing up for the fuel in the long term. The industrialization of technology and the commercial development for vessel fueling did not progress as quickly as expected.
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With new GHG emissions regulations and corporate ESG concerns, designs and outfitting are now changing faster than they have over the previous 80 years. The propulsion and hull design of a ship in 2030 will be strikingly different, even than that of a peer ship built by 2020.
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Today we look at the stats! I am digging into the 10-K reports for publicly traded companies relating to the marine industry to see what their numbers can tell us about the current state of profit and risk.
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U.S. offshore wind farms come up frequently in the news, often related to politics and with a list of players that seems to change monthly. The number and location of sites in this industry, fledgling in the U.S., is confusing. To help visualize what is happening, I found several websites with information on the U.S. Windfarms operators.
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In September 2021, I looked at the growing use of Lithium-Ion batteries in forms of transportation. It was researched for my own education as well as for my readers. This blog will try to give basic information on the new generation of batteries and the systems that will be necessary for them to be used in various types of transportation as stored electrical power starts to take over from fossil fuels.
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The fuels of the future will be impacting everything that we do. They are already impacting commerce, from moving to more electric and natural gas-powered vehicles in cities, to the billions of dollars being diverted to research, development, production, and distribution of these alternative fuels.
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While most vessel owners/operators keep their numbers under wraps, publicly traded companies, such as The Kirby Corporation, publish an annual report of their performance for shareholders. These reports are a wealth of information that can help us understand trends in our industry.
Kirby’s income increased over 2021 despite still dealing with the fallout of Covid-19 as well as low water conditions in the Mississippi River during the 4th quarter.
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While corporate lenders, shippers, and charterers are moving towards more eco-friendly operations, problems with green financing are growing. Stricter lending requirements are going into effect faster than owners can produce their long-term compliance plans. Banks do not want to end up with loans on stranded assets that can no longer earn money to pay their debt. A vessel with a low level of compliance becomes essentially unemployable.
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As we have seen in worldwide marine commerce, and in commerce in general, the inland trade has been bouncing around a bit like an EKG strip. Weather patterns and international conflict have affected the grain trades, coal trade, and inverted some of the petrochemical trade. The world economy has stifled steel production and shipping and has had a knock-on effect on coal and ores.
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I have been writing these blogs for two years now, analyzing the future of the marine industry. My intent is to help decision-makers address and prepare for forecasted changes. Now, I would like to shift my focus to various topics concerning domestic coastal, harbor, and inland marine operations.
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Mondi Semsar joined the firm in 2024, bringing over a decade of expertise in bulk commodity management, operational efficiency, USDA grade standards for grain inspection, and quality control. Prior to this, he worked as a Surveyor and Bulk Commodity Supervisor at Russell Marine Group and served as a Manager and Instructor in the health and wellness industry. With specialized knowledge in large-scale grain operations and regulatory compliance, both domestically and internationally, Mondi applies a holistic, disciplined approach to every project, prioritizing precision, safety, and client engagement.
Matt began marine surveying in 2014 and has experience with damage causation, reviewing transit plans, new construction, cargo transfers, salvage operations, on/off charters, and general condition surveys. He joined the Hull & Machinery department at DLS in 2019.
Charles joined the firm in 2024, after managing an enterprise drone service provider based in New Orleans. He also teaches basic and advanced UAV class at Delgado Community College. Charles has extensive experience planning, flying complex missions in the Industrial, Chemical and Oil & Gas industries.
Mr. Boudreaux has 15 years experience with offshore supply vessels, crewboats, and anchor handling tugs. During this time, he served 8 years in vessel repair and new construction, 3 years in vessel operation and logistics, and 4 years as a vessel port captain.
Mr. Boudreaux served over 3 years as a marine surveyor performing numerous types of surveys in the marine industry prior to joining DLS.
Mr. Laskay joined Stickney, Dufour & Associates, Inc. in 1988 as a partner. He is now of Counsel. He became a Marine Surveyor in 1974, having gained prior experience in steamship agency, bulk cargo handling and vessel operations. He has been involved in many aspects of marine surveying including hull, machinery and cargo, both inland and ocean. Since becoming an Accredited Senior Appraiser of commercial marine equipment, he has been active with the American Society of Appraisers’ International Machinery and Technical Specialties Committee. He has written a comprehensive exam for the Commercial Marine Appraisal specialty and has written a 30-hour course for the American Society of Appraisers on appraising commercial marine vessels and yachts and is the lead instructor.
Email: nlaskay@dlsmarine.com
Harry Ward is the President of Dufour, Laskay & Strouse, Inc. Harry is a US Navy veteran and has spent much of the past decade in the maritime industry in sales, finance and general management. He has extensive experience in asset and business valuation and is working to maintain DLS leadership in marine appraisal and survey for another 50 years. Harry is a graduate of the US Naval Academy and served as a helicopter pilot and survival instructor through multiple tours of duty. He has an MBA from San Diego State University.