New York correspondent, Seatrade Maritime
Barry Parker is a New York-based maritime specialist and writer, associated with Seatrade since 1980. His early work was in drybulk chartering, and in the early 1990s he moved into shipping finance where he served as a deal-maker and analyst with a leading maritime merchant bank. Since the late 1990s he has worked for a group of select clients on various maritime projects, also remaining active as a writer.
The aftermath of Hurricane Harvey, and anticipation of the next storm, “Hurricane Irma”, have impacted the trading patterns for vessels in the US Jones Act trades, including MR sized tankers of 46,000 to 50,000 dwt and Articulated Tug Barges (ATBs).
Skies have cleared over Texas as what was Hurricane Harvey has now moved inland, but the damage, and the implications for shipping, are still unfolding.
Four days after the center, or “The Eye” in weather-speak, of Hurricane Harvey slammed into the Texas coast, torrential rains were continuing to fall. Some parts of the Houston area were getting upwards of 50 inches of rainfall, putting this disaster squarely into the record books for “most” and “worst”.
The big storm Hurricane Harvey, brewed up over the hot waters of the US Gulf, and closely watched by oil industry observers around the world it slammed into the Texas coast during the night on Friday, 25 August.
Make no mistake, George Economou - with not one but two degrees from Massachusetts Institute of Technology - is the smartest guy in the room. For going on two decades, non-shipping investors typically of the retail variety, have been on the losing side of one deal after another, when it comes to Dryships or predecessor companies.
In the Summer of Trump, there have been mixed signals on funding for “all things infrastructure” in the US, among other things.
The influence of US oil output, thought by energy analysts to be loosening the influence of other oil producers, continues to be felt.