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.
As offshore wind activity increases along the US East Coast, a big ramp-up in port activity is expected; there is already evidence of this at ports in Massachusetts and Rhode Island. With this will come a demand for newbuild heavy lift vessels installation vessels specifically for the wind energy trades.
A New York Maritime (NYMAR) with the breakfast wrap-up event to Marine Money 2019 coming two days after the Global Maritime Forum’s high profile launch of the Poseidon Principles meant the importance of ESG investing (Environment, Social and Governance), as well as alternative finance and consolidation.
The official launch of the Poseidon Principles held in New York on expanded how the initiative from major ship finance banks plans to try and take the lead of a “green transformation” in shipping.
Sometimes, when it comes to listed shipping companies, private may be better than public and that may be the case for DryShips.
Like every other aspect of the shipping landscape, the role of “sell side” equity analysts covering the maritime industry is undergoing a major shift, notably with the discontinuation of coverage by Morgan Stanley in the US.
Digitalization is happening now in the shipping ecosystem. Big words aside, what this means to shipowners is that information about equipment, processes, you name it... can be generated, stored and analyzed in larger quantities, with more precision, and from new vantage points.
An American Institute of Marine Underwriters (AIMU) seminar brought into the focus the growing risks associated with mega-containerships in the event of casualty and the huge number of cargo interests involved.
Though infrastructure sometimes makes it into the US news, perhaps more now as Donald Trump seeks to make it a signature issue, ports and port planning are generally at the less exciting end of the maritime spectrum, however, the offshore wind sector is whipping up some interest.