Fact.MR Foresees Increase in Funding for Dredging Projects

first_imgWith seaborne trade gaining importance in terms of economic development of a nation, government organizations are largely investing in harbor deepening activities worldwide, Fact.MR said in their latest study on Harbor Deepening Market.A deeper harbor can accommodate heavy and large container ships allowing expansion of trading activities in the respective region. This has gained higher significance against the backdrop of a beleaguered scenario of international trade due to the China – United States trade war, according to the Dublin headquartered market research firm.Although the possibility of improving this condition is true, it is also likely that this scenario can have a throwback on the harbor deepening market, given the likelihood of reduction in shipping activities, they stated.Requirement for harbor deepening in urban development is rapidly increasing however is overpowered by trade maintenance activities, according to a recent Fact.MR study. The study envisages that the harbor deepening market is projected to grow at a steady CAGR of 3.0% in terms of value during the period of forecast, 2018-2028.Shipping industry has permeated the international trading space. The International Chamber of Shipping revels that more than 50,000 merchant ships, accounting for around 90 percent of worldwide trading via international waters have been in operation. This has led to increasing number of large vessel anchoring, consequently increasing the need for harbor deepening.Expanding oil and oil gas sector has remained influential in increasing the harbor deepening activities, especially after the removal of trade restrictions on crude oil exports across major countries. This has translated into an increase in oil exports to an average of 1.1 million barrels per day from the United States alone in 2017. Implementation of technologies also have accelerated the global oil trade, thus raising the need for harbor deepening projects across nations.Image source: U.S. Army Corps of Engineers, Charleston DistrictHigher cost associated with harbor deepening has had a deepening impact on the overall market. However, this is likely to be offset by favorable government encouragement in terms of budget allocations. The steadily rising harbor deepening activities will coattail rising government funding as a consequence.The Charleston Harbor Deepening Project and Savannah Harbor Deepening Project are few of the major activities heavily funded by the government, with a large funding of $ 509 million for the former and additional $ 100 million for the later. Rising support from government organizations have shored up the harbor deepening projects that are likely to expand at a 2.1% by 2028.Harbor deepening activities have also penetrated the cruising space, wherein various projects are being undertaken for facilitating navigation of large cruise vessels. The CLIA (Cruise Lines International Association) has estimated that the cursing industry has seen its pink with increasing number of passengers opting for cruising.The association expects that the passenger count is likely to cross 27 million only for cruising. This math has shaken few of the major ports worldwide, which are increasingly investing in harbor deepening, such as PortMiami.United States have remained dominant in the North America region, wherein increasing harbor deepening projects are being undertaken funded by the U.S government. The harbor deepening of ports in the country has largely been influenced with the increasing oil exports.Likewise, in terms of freight logistics, Germany holds an upper hand in the European Union. The harbor deepening scenario in the United Kingdom is also a significant one with increasing harbor redevelopment projects such as the Peter Harbor Redevelopment initiative.Harbor deepening in Japan has taken a rapid upswing on back of increasing foreign trade. The country’s container shipping and seaborne vehicle shipping are other aspects adding fuel to the activity of harbor deepening.That said, the country is likely to present lucrative growth opportunities for harbor deepening in the forthcoming years.last_img read more

Columbus Blue Jackets coach John Tortorella rips NHL officials over clock mismanagement

first_imgAs per The Athletic’s Aaron Portzline, NHL director of hockey ops Colin Campell commented on the matter, saying Tortorella’s postgame presser comments were “unprofessional along with unacceptable,” while also saying that the league is addressing the matter.On Monday, the league’s director of hockey ops, also gave an update and explanation on why play wasn’t stopped, citing protocol surrounding a too many men penalty.”The on-ice officials can always adjust the clock if they feel it is required. The Official Timer can notify the on-ice officials that there are issues at any time from his perspective. Toronto can get involved if we see issues. Assessing when the whistle is blown is hard for us to do sitting in Toronto and not being in the building live,” Campbell commented, via the Columbus Dispatch’s Brian Hedger.Per Colin Campbell, NHL director of hockey ops, a lengthy explanation about why time wasn’t added back on the clock after the #Blackhawks too many men penalty in OT last night plus a chastising statement about Tortorella’s postgame comments -> pic.twitter.com/UAB49TxgM2— Brian Hedger (@BrianHedger) December 30, 2019 “The whistle is blown at 19.2 on the clock. For some reason the clock is run down a second and a tenth to 18.1. Whatever reason, I have no goddamn idea,” Tortorella said during the postgame press conference. “So instead of resetting the clock, we have them tell our captain, ‘We’re not going to do it.’ [The NHL office in] Toronto doesn’t step in, refs don’t do their freaking job and now we lose the game, and we lose our goalie.”WORLD JUNIORS: Live scores, TV schedule, updatesBlue Jackets goaltender Joonas Korpisalo was injured during the shootout and was replaced by Elvis Merzlikins, which wouldn’t have happened had Werenski’s goal stood.”So the chain of events, if it was done right, [is] we don’t lose our goalie [and] we win the hockey game,” Tortorella added. “So, all this goddamn technology, right? The technology and getting things right . . . the stubbornness tonight by the officials, and by the league, and Toronto, however it’s supposed to goddamn work, screws us. It’s ridiculous.”Tortorella ended his press conference without taking questions and offered no update on Korpisalo’s condition.#mood pic.twitter.com/lGKhLhjjkV— Columbus Blue Jackets (@BlueJacketsNHL) December 30, 2019Columbus held a 2-0 lead heading into the third period and allowed a pair of goals in the final 12:27 of regulation to force overtime. Columbus Blue Jackets head coach John Tortorella unleashed an expletive-filled rant toward game and league officials after his team lost 3-2 in a shootout to the Chicago Blackhawks on Sunday.Tortorella directed his scorn toward how the officials handled the clock in overtime. After the Blackhawks were penalized for having too many men on the ice, the clock appeared to briefly continue to run after the whistle was blown. The time was not put back on the clock. Columbus’ Zach Werenski went on to score what seemed to be the game-winner, except time had expired slightly before the puck crossed the goal line.last_img read more