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PA Port Establishes Transportation Reinvestment Zone

Port Arthur News
December 18, 2013

PA Port Establishes Transportation Reinvestment Zone

By Sherry Koonce
The News staff writer

Port of Port Arthur Commissioners have established a funding mechanism to support a variety of projects with the creation of Transportation Reinvestment Zone No. 1.

Though Port Commissioners approved creation of the zone at their regular meeting Wednesday, they have not yet identified specific projects, or designated revenue.

Likely among those projects, however, is deepening of the Sabine-Neches Waterway — a $1.2 billion project that will require local matching funds, Floyd Gaspard, Port of Port Arthur executive director, said. Continue reading

Two U.S. ports win $1.24 billion in federal funding

Seatrade Global
November 5, 2013

Two US ports win $1.24bn in federal funding for dredging

By Jim Hanscom

Two US ports in key strategic positions to tie into shipping opportunities generated by an expanded Panama Canal are due to receive the lion’s share of federal funding for dredging under recently approved legislation.

The US House, after a partisan fight that shut down the government, returned to agree to fund a bill to authorize $8bn for designated water projects. Approximately $1.4bn was allocated to five dredging projects, to be matched by $698 million in non-federal contributions. The flow of funds is subject to the appropriations process. Continue reading

Panama Canal’s LNG Surprise to Redefine Trade in Fuel: Freight

Bloomberg
November 4, 2013

Panama Canal’s LNG Surprise to Redefine Trade in Fuel: Freight

By Isaac Arnsdorf

When the newly widened Panama Canal opens in 2015, it will handle an estimated 12 million metric tons of liquefied natural gas annually, a cargo planners didn’t even envision when starting the $5.25 billion expansion in 2007.

LNG carriers will cross the 48-mile waterway 350 times a year, and voyages to Asia from the U.S. will cost 24 percent less than longer routes, according to calculations from the canal authority. The expected 12 million tons, assuming half the transits are hauling cargoes, would be equal to about 5 percent of the world’s trade in 2012, Fearnley Consultants AS estimates. Continue reading

Insight: U.S. Congress finds cure for gridlock in water

Reuters
October 29, 2013

Insight: U.S. Congress finds cure for gridlock in water

By Fred Barbash and Caren Bohan

(Reuters) – The U.S. House of Representatives has rediscovered the formula for peace, harmony and an end to gridlock after a month of partisan warfare: $8 billion worth of harbor dredging, dam and lockconstruction and other federal waterway improvements.

The bill got only modest attention in the aftermath of a government shutdown and the technological woes of President Obama’s health law when it passed last week by a vote of 417-3. Continue reading

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