When Joseph H. Pyne joined Dixie Carriers in 1978, little did he know the maritime juggernaut he would help to create. When he took over as president in 1984, the company owned about 20 boats and 50 barges, with a value of about $35m. Today, after nearly 30 years, 50 acquisitions, it has a market cap well in excess of $4B, and its fleet hovers around 350 boats and 950 barges, commanding approximately 35% of the U.S. market.
The economic recovery continues to offer new opportunities for the U.S. maritime industry and the U.S.-flag fleet, and I am excited that our nation’s international shipping community has capitalized on these opportunities and is poised to expand even further. Recently, at the inaugural Tradewinds Jones Act Forum, I discussed the changes affecting the coastwise U.S.-flag maritime industry -- also known as the Jones Act fleet.
The Great American Energy Boom is having a major ripple effect on the shipbuilding industry, which thanks to a 1920s maritime law, is busier than it has been in decades.
The American Waterways Operators (AWO) pressed Congress Tuesday to get the long-awaited towing vessel inspection rule published before the current Coast Guard commandant’s watch is over next year.
When maritime historian, Jerry Roberts, picked up a copy of the National Geographic from 1954 and saw pictures of a tugboat race at the New York pier, he was set on reviving the tradition that vanished in the 1960s.