Despite the decline in the price of crude oil over the past year, the subsea hardware market is expected to grow by 27 percent to 2019. Subsea tree installations (a subsea tree monitors and controls the production of a subsea well) numbered 350 last year, which, according to Douglas-Westwood market analysts, is the highest volume to date. The trend is forecasted to continue until 2018 when orders won’t be as brisk. Asia, Latin America and Africa are identified as together creating nearly half of global expenditures. Hydrocarbon demand will continue to grow, which bodes well for long-term capex investments, despite short-term potential cancellations… MORE
The US Coast Guard said Aug. 26 that it is monitoring vessel traffic and cargo departing the port complex in Tianjin, China, following the warehouse explosions that occurred Aug. 12 through 15. (Read full article)
Asia-North America Trade Boom Expected by 2020
By Mark Edward Nero
Trade from China and Southeast Asia to North America is expected to boom during the next five years, according to new analysis released Aug. 26 by information and analytics company IHS Inc. (Read full article)
Vancouver USA Wins Environmental Case
By Mark Edward Nero
The Washington Court of Appeals on Aug. 25 ruled in favor of the Port of Vancouver USA regarding an appeal brought by two environmental groups over whether the port’s lease for the Vancouver Energy terminal complies with the State Environmental Policy Act (SEPA).(Read full article)
Survey: Many Mariners Dread Port Calls
By Mark Edward Nero
Seafarers sometimes dread port calls because of the increase in workload caused by audits and inspections when a ship is in dock, according to a new survey by Crewtoo, an online social network for seafarers.(Read full article)
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USCG Monitoring Tianjin Cargo for Contamination
