Arrow Seismic Invest IV Ltd.

U.S. inland barge transportation company American Commercial Barge Line (ACBL) has named Mike Ellis as the company’s new chief executive officer and a member of its board of directors, effective August 17, 2020.Ellis will take the helm following ACBL's recently completed Chapter 11 recapitalization and restructuring, succeeding retiring president and CEO Mark Knoy, who has led the company since 2011.“Following a thorough search, we are delighted to welcome Mike Ellis as ACBL’s new CEO, beginning a new chapter in the company’s 100+ year storied history,” said John Giles, ACBL’s chairman of the board.

The total orderbook for dry bulk, container and tanker ships has reached its lowest point in 17 years as COVID-19 has massively slowed contracting (-50%) while deliveries of new vessels have proved more resilient (-2%).The orderbooks for bulk carriers and containerships in particular have fallen sharply. At 63.4 million deadweight tons (DWT), the dry bulk orderbook is at its lowest level since April 2004 and 34.7% smaller than 12 months ago. Similarly, the orderbook for containerships has fallen 10.3% in the past 12 months to its lowest level since September 2003.The fall has left the orderbook to fleet ratio at its lowest level in many years at just 7.7%.

Cargoes have come off ships at sea it seems like forever. Some years ago a ship suffered a casualty transiting the English Channel in a storm. Much of its cargo of lumber and other floating items washed ashore on the southwest English coast. Before the authorities could arrive, enterprising local residents gathered it up.Nowadays, the majority of non-bulk cargo is carried in containers. Container ships have gotten larger and are capable of carrying thousands and thousands of containers. The ships have greater length, greater breadth, and greater draft. They also have greater air draft.

Handling of steel boxes throughout the shipping, ports and logistics supply chain has historically grown exponentially, putting strains on a range of operational procedures and the physical hardware employed to handle the steel boxes, particularly onboard ships. A recent webinar organized by the Thomas Miller managed insurance mutuals, container freight specialist TT Club and protection & indemnity insurer, UK P&I Club, revealed the diverse range of factors important to safe container ship operations and the security of the container stacks they carry.

Australian shipbuilder Richardson Devine Marine is building a new Incat Crowther-designed catamaran due to be launched for World Heritage Cruises by the end of the year.The passenger vessel will be the eighth Incat Crowther vessel for the Tasmanian operator and will draw on the many successful features of World Heritage Cruises’ current Incat Crowther 35, Harbour Master. This vessel has garnered acclaim for its efficient and stable platform, leading to expressions of interest in purchasing the vessel.WHC saw this as an opportunity to take their immense knowledge of the operation and build a new vessel that takes the best of Harbour Master and improves the package in key areas.