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<div class="phx-topic abstract-wrapper">When Hurricane Katrina barreled into Gulfport in August 2005, the 24-foot surge all but destroyed the Mississippi port&amp;rsquo;s container and bulk terminals, decimating 700,000 square feet of warehouse</div>

When Hurricane Katrina barreled into Gulfport in August 2005, the 24-foot surge all but destroyed the Mississippi port&rsquo;s container and bulk terminals, decimating 700,000 square feet of warehouse

<div>When Hurricane Katrina barreled into Gulfport in August 2005, the 24-foot surge all but destroyed the Mississippi port’s container and bulk terminals, decimating 700,000 square feet of warehouse space and two primary piers.Six years later, the equally massive recovery effort is giving the port a jumpstart on plans to expand for a future that could include new container services from Africa, Asia and Europe as well as the existing north-south services that provide the lion’s share of international container volume.Those container volumes are growing again at the Gulf’s third-largest container port, and, with the help of some $700 million in...

When Hurricane Katrina barreled into Gulfport in August 2005, the 24-foot surge all but destroyed the Mississippi port’s container and bulk terminals, decimating 700,000 square feet of warehouse space and two primary piers. Six years later, the equally massive recovery effort is giving the port a jumpstart on plans to expand for a future that could include new container services from Africa, Asia and Europe as well as the existing north-south services that provide the lion’s share of international container volume. Those container volumes are growing again at the Gulf’s third-largest container port, and, with the help of some $700 million in emergency federal and state funding, Gulfport is building infrastructure to handle more boxes on bigger container ships, rebuilding the rail line to a developing inland distribution facility and starting construction of a four-lane road link from the port to a nearby interstate highway. “In 2005, all our indicators were pointing upward, but on Aug. 29, Katrina basically wiped our port out for a period of time,” said Don Allee, executive director and CEO of the Mississippi State Port Authority. “We put it back together with glue and Band-Aids in pretty rapid fashion.” [Editorial note: image removed/no longer available] The port, which had been routinely handling 200,000 20-foot equivalent container units annually before Katrina, saw its volume grow 5 percent in 2010 from the year before to more than 208,000 TEUs. Allee said the port handled a “conservative” 46,000 TEUs in the first quarter, a pace he expects to pick up as the year progresses and boost it above last year’s record. In the wake of the hurricane, with help from Gov. Haley Barbour, the port secured more than $100 million in insurance and FEMA funds and $600 million in community bloc development grants administered by the Department of Housing and Urban Development that enabled it to start work on a master plan called “Port of the Future.” The main element of the port reconstruction plan is a project to convert the mixed-use west terminal to a pure intermodal berth and raise its level to 25 feet above mean low water, from 10 feet now. The expansion, created on landfill it completed building up in March on 60 water-covered acres, eventually will reach 80 acres. “We’re slowly raising it to the 25-foot level and creating a platform for a new high-density carrier,” Allee said. Such a platform would enable Gulfport to handle calls by container ships of 6,000 TEUs or more that will be able to pass through the Panama Canal after its third set of locks are completed in 2014. Gulfport is one of many U.S. ports to sign memorandums of understanding with the Panama Canal Authority, committing the two entities to share information of trade flows and jointly market services. Gulfport is talking with container lines that could start calling at the port after 2014. “Operators aren’t necessarily thinking Asia. North-south grows and grows, and we’re fortunate that our carriers Dole, Chiquita and Crowley are already in that north-south trade,” Allee said. “Another opportunity is the Atlantic side of South America, and another we are focusing on is the west coast of Africa.” The port is preparing for the day when it might attract calls by higher-density carriers. Upon completion of the west berth expansion, Gulfport is considering ordering as many as three new ship-to-shore container cranes to handle bigger ships. The Army Corps of Engineers is preparing a study that would provide a cost-benefit analysis of deepening the existing 36-foot channel to 42 feet or deeper. And, with the help of a $20 million federal TIGER grant, Gulfport is working with Kansas City Southern Railway, which has on-dock rail ramps on the west and east berths, to rebuild the 70-mile track from Gulfport to Hattiesburg to handle stacktrains serving a proposed inland distribution facility. Gulfport also is working with the state Department of Transportation to build a seven-mile port connector road over the next eight years. The “interstate-quality” highway would carry trucks carrying containers between Interstate 10 and the port, where they will pass through electronic-screening portals at new gates. “We’re paying a lot of attention to our future security needs,” Allee said. Gulfport is the third-largest container port in the Gulf, thanks to the volume generated largely by its three core carriers. Dole and Chiquita carry green fruit imports on the northbound leg and general cargo southbound. Crowley carries mixed cargoes and refrigerated goods. All three lines carry bolts of U.S.-made cotton fabric to Central American apparel plants on their southbound legs and import finished apparel made from those textiles back to the U.S. under reduced duties under Public Law 807. The U.S. is the world’s largest banana market, importing $1.67 billion worth of the fruit in 2010, up 15 percent from 2009 and more than twice as many bananas by value as Germany, the next largest market. Gulfport is the second-largest U.S. banana port behind Wilmington, Del. Gulfport’s banana imports come mainly from Colombia, Costa Rica, Ecuador, Guatemala and Honduras. Dole owns banana plantations in Costa Rica, Ecuador and Honduras; Chiquita produces bananas in Colombia, Costa Rica, Ecuador, Guatemala and Honduras. -- Contact Peter T. Leach at pleach@joc.com . Follow him on Twitter @petertleach .

Gulfport Rises

<div class="phx-topic abstract-wrapper">Wary of potential US actions to undermine the agreement, EU lawmakers inserted three clauses into the deal that provide “strong and clear safeguards.”</div>

Wary of potential US actions to undermine the agreement, EU lawmakers inserted three clauses into the deal that provide “strong and clear safeguards.”

Feature image

<div class="phx-topic">The European Union has approved a trade deal with the US that was agreed to last year, but set conditions aimed at protecting the European Commission from the frequent and unpredictable adjustments of US President Donald Trump’s tariffs. Members of the European Parliament (MEPs) on Thursday <a href="https://www.europarl.europa.eu/news/en/press-room/20260323IPR38830/eu-us-trade-deal-meps-set-conditions-for-lowering-tariffs-on-us-products">approved the EU-US Turnberry</a> trade deal that was struck in July last year but delayed as tensions between the two parties rose over Trump’s musings about a proposed US takeover of Greenland. Wary of potential US action to undermine the agreement, the EU lawmakers inserted three clauses into the deal — the “suspension clause,” “sunrise clause,” and “sunset clause” — that German MEP Bernd Lange said would be “firmly” defended. “MEPs will only be able to sign up to the trade terms of the deal if the regulation contains very strong and clear safeguards, and only after the US has fully respected the terms of the deal,” Lange said in a statement. "They include a sunrise clause requiring full US compliance before the regulation can take effect, and a sunset clause ensuring full parliamentary oversight of any extension of the concessions, all the while remaining World Trade Organization-compliant,” he added. Lange warned that any further tariff threats from the US, or failure of the deal to deliver for EU producers and consumers, would lead to the expiry of the legislation. “I intend to defend this mandate firmly in the negotiations,” he said. The trade deal now requires agreement from member states, and if passed as is will set tariffs at 15% for most EU goods, down from the threatened 30%, in exchange for European investment in the US and the removal of EU import duties on US industrial goods. It will also give preferential European market access for a wide range of US seafood and agricultural goods. In a “safeguard mechanism,” the European Commission will be tasked with monitoring the impact of the new rules and will be able to suspend the new tariffs temporarily “should US imports reach a level that could cause serious harm to EU industry, for instance in the event of a 10% increase in imports of a particular group of products,” the statement said. Contact Greg Knowler at <a href="mailto:greg.knowler@spglobal.com">greg.knowler@spglobal.com</a>. </div>

The European Union has approved a trade deal with the US that was agreed to last year, but set conditions aimed at protecting the European Commission from the frequent and unpredictable adjustments of US President Donald Trump’s tariffs. Members of the European Parliament (MEPs) on Thursday approved the EU-US Turnberry trade deal that was struck in July last year but delayed as tensions between the two parties rose over Trump’s musings about a proposed US takeover of Greenland. Wary of potential US action to undermine the agreement, the EU lawmakers inserted three clauses into the deal — the “suspension clause,” “sunrise clause,” and “sunset clause” — that German MEP Bernd Lange said would be “firmly” defended. “MEPs will only be able to sign up to the trade terms of the deal if the regulation contains very strong and clear safeguards, and only after the US has fully respected the terms of the deal,” Lange said in a statement. "They include a sunrise clause requiring full US compliance before the regulation can take effect, and a sunset clause ensuring full parliamentary oversight of any extension of the concessions, all the while remaining World Trade Organization-compliant,” he added. Lange warned that any further tariff threats from the US, or failure of the deal to deliver for EU producers and consumers, would lead to the expiry of the legislation. “I intend to defend this mandate firmly in the negotiations,” he said. The trade deal now requires agreement from member states, and if passed as is will set tariffs at 15% for most EU goods, down from the threatened 30%, in exchange for European investment in the US and the removal of EU import duties on US industrial goods. It will also give preferential European market access for a wide range of US seafood and agricultural goods. In a “safeguard mechanism,” the European Commission will be tasked with monitoring the impact of the new rules and will be able to suspend the new tariffs temporarily “should US imports reach a level that could cause serious harm to EU industry, for instance in the event of a 10% increase in imports of a particular group of products,” the statement said. Contact Greg Knowler at greg.knowler@spglobal.com .

Europe Union approves US trade deal, but sets firm conditions

<div class="phx-topic abstract-wrapper">The deals come as regional rate indices are trending at multi-month highs for key markets including Southeast Asia, South Korea, Japan, and China.</div>

The deals come as regional rate indices are trending at multi-month highs for key markets including Southeast Asia, South Korea, Japan, and China.

<div class="phx-topic">Intra-Asia carriers, buoyed by higher rates and consistent demand, have placed a flurry of new vessel orders over the past month totaling more than $1 billion. The deals come as regional rate indices produced by the Shanghai Shipping Exchange (SSE) and Korea Ocean Business Corporation are trending at multi-month highs for key markets including Southeast Asia, South Korea, Japan, and China. Rates from Shanghai to South Korea of $164 per TEU are the highest since July 2024, according to SSE data carried on the Journal of Commerce’s Gateway platform. SSE data also shows that although Shanghai-Singapore rates have fallen from a pre-Lunar New Year peak in December and January, at $500/TEU they are still higher now than they were between February and October of last year. KOBC’s Korea-China index is at its highest since August 2023, while its Korea-Southeast Asia index is at its highest since last July. That comes as intra-Asia container volumes are expected to grow by around 3% this year following last year’s 5% increase to almost 50 million TEUs, solidifying the region’s position as the world’s biggest container shipping market. China and Vietnam remain the biggest regional trade lane, with volumes growing 16% last year to 2.8 million TEUs, according to maritime consultancy Drewry. <h3>SITC orders six vessels to expand owned fleet </h3>The growth in the intra-Asia trade was highlighted by Hong Kong-listed SITC on Thursday, which said it was ordering six 1,100-TEU vessels to expand its owned fleet of container ships to meet increasing demand. That came after it saw an 8% increase in container volumes last year to almost 3.9 million TEUs, while average freight rates rose 4.5% to $753/TEU. The carrier said the ships, costing $137 million in total, would be built by Jiangsu Yangzi Hongyuan Shipbuilding Co. and Jiangsu New Yangzi Shipbuilding Co., both subsidiaries of China’s largest privately owned shipyard, Yangzijiang Shipbuilding. The ships will be delivered between March and August 2028, SITC said. <div class="wrapper-narrow"><dynamic-object type="jocchartid" resource-id="5439cd86-4e96-4e60-8206-85350f1635ec"></dynamic-object></div>SITC is the biggest intra-Asia container line in terms of capacity with a fleet of 119 ships totaling 184,961 TEUs that ranks 14th largest globally, according to Alphaliner. Fellow Hong Kong-listed regional carrier TS Lines also highlighted Asia-Pacific growth opportunities for its decision to order six 2,900-TEU ships at a total cost of $253 million from Fujian Mawei Shipbuilding and Xiamen Shipbuilding Industry Co. The ships would also strengthen the carrier’s ability to provide more frequent services and help it achieve long-term cost advantages, the carrier said in an announcement confirming the orders on March 20. The ships are scheduled for delivery in June and August 2028 and May 2029. Two South Korean carriers — Korea Marine Transport Company and HMM — are also expanding their regional fleets. KMTC said it has ordered six 1,800-TEU ships at a cost of $259 million from HD Hyundai (Medium) that are expected to increase its fleet to more than 70 ships with total capacity of over 165,000 TEUs. The new vessels will be delivered between August 2027 and June 2028. HMM, meanwhile, placed a $168 million order this month, also with HD Hyundai (Medium), for three 2,800-TEU ships that will join the carrier’s regional fleet in June, August, and October 2027. China’s Shanghai Jinjiang Shipping (JJ Shipping) confirmed on March 10 it had contracted Jiangsu New Yangzi Shipbuilding to build up to eight 1,900-TEU ships costing a combined $240 million. The ships will be deployed on Southeast Asia services upon delivery between June 2028 and July 2029. Separately, Indonesia-headquartered, Singapore-listed Samudera Shipping said it would launch operations at its regional Blue Ocean Shipping joint venture in Japan with Imoto Lines shortly following the delivery of two container ships on March 17. Contact Keith Wallis at <a href="mailto:keithwallis@hotmail.com">keithwallis@hotmail.com</a>. </div>

Intra-Asia carriers, buoyed by higher rates and consistent demand, have placed a flurry of new vessel orders over the past month totaling more than $1 billion. The deals come as regional rate indices produced by the Shanghai Shipping Exchange (SSE) and Korea Ocean Business Corporation are trending at multi-month highs for key markets including Southeast Asia, South Korea, Japan, and China. Rates from Shanghai to South Korea of $164 per TEU are the highest since July 2024, according to SSE data carried on the Journal of Commerce’s Gateway platform. SSE data also shows that although Shanghai-Singapore rates have fallen from a pre-Lunar New Year peak in December and January, at $500/TEU they are still higher now than they were between February and October of last year. KOBC’s Korea-China index is at its highest since August 2023, while its Korea-Southeast Asia index is at its highest since last July. That comes as intra-Asia container volumes are expected to grow by around 3% this year following last year’s 5% increase to almost 50 million TEUs, solidifying the region’s position as the world’s biggest container shipping market. China and Vietnam remain the biggest regional trade lane, with volumes growing 16% last year to 2.8 million TEUs, according to maritime consultancy Drewry. SITC orders six vessels to expand owned fleet The growth in the intra-Asia trade was highlighted by Hong Kong-listed SITC on Thursday, which said it was ordering six 1,100-TEU vessels to expand its owned fleet of container ships to meet increasing demand. That came after it saw an 8% increase in container volumes last year to almost 3.9 million TEUs, while average freight rates rose 4.5% to $753/TEU. The carrier said the ships, costing $137 million in total, would be built by Jiangsu Yangzi Hongyuan Shipbuilding Co. and Jiangsu New Yangzi Shipbuilding Co., both subsidiaries of China’s largest privately owned shipyard, Yangzijiang Shipbuilding. The ships will be delivered between March and August 2028, SITC said. SITC is the biggest intra-Asia container line in terms of capacity with a fleet of 119 ships totaling 184,961 TEUs that ranks 14th largest globally, according to Alphaliner. Fellow Hong Kong-listed regional carrier TS Lines also highlighted Asia-Pacific growth opportunities for its decision to order six 2,900-TEU ships at a total cost of $253 million from Fujian Mawei Shipbuilding and Xiamen Shipbuilding Industry Co. The ships would also strengthen the carrier’s ability to provide more frequent services and help it achieve long-term cost advantages, the carrier said in an announcement confirming the orders on March 20. The ships are scheduled for delivery in June and August 2028 and May 2029. Two South Korean carriers — Korea Marine Transport Company and HMM — are also expanding their regional fleets. KMTC said it has ordered six 1,800-TEU ships at a cost of $259 million from HD Hyundai (Medium) that are expected to increase its fleet to more than 70 ships with total capacity of over 165,000 TEUs. The new vessels will be delivered between August 2027 and June 2028. HMM, meanwhile, placed a $168 million order this month, also with HD Hyundai (Medium), for three 2,800-TEU ships that will join the carrier’s regional fleet in June, August, and October 2027. China’s Shanghai Jinjiang Shipping (JJ Shipping) confirmed on March 10 it had contracted Jiangsu New Yangzi Shipbuilding to build up to eight 1,900-TEU ships costing a combined $240 million. The ships will be deployed on Southeast Asia services upon delivery between June 2028 and July 2029. Separately, Indonesia-headquartered, Singapore-listed Samudera Shipping said it would launch operations at its regional Blue Ocean Shipping joint venture in Japan with Imoto Lines shortly following the delivery of two container ships on March 17. Contact Keith Wallis at keithwallis@hotmail.com .

Intra-Asia carriers spend $1 billion on new ships amid buoyant trade, rate growth

<div class="phx-topic abstract-wrapper">Suppliers and manufacturers are unwilling to make long-lead investments in next-gen nuclear projects without credible signals that the demand for them exists, according to a new report. </div>

Suppliers and manufacturers are unwilling to make long-lead investments in next-gen nuclear projects without credible signals that the demand for them exists, according to a new report.

<div class="phx-topic">US nuclear energy development is surging after a series of recent approvals and initiatives to advance domestic projects — including a $40 billion deal the US struck with Japan to build next-gen reactors in southern states and a Bill Gates-backed startup receiving the federal green light to construct a first-of-its-kind reactor in Wyoming. But reactor developers will need to work through supply chain bottlenecks for those projects to materialize, according to a new report by a nuclear advocacy group. Nuclear energy projects are lining up to become a significant source of future breakbulk and project cargo as energy companies push to expand the US reactor fleet and the infrastructure to support domestic uranium production, conversion, and enrichment. The Trump administration has set a goal of expanding nuclear energy capacity from 100 gigawatts (GW) to 400 GW by 2050, while having 10 large reactors under construction in the US by 2030. But those goals could prove challenging as a “self-reinforcing market paralysis” threatens to upend the supply chain for next-gen nuclear reactors under development, according to a March 20 report from the Nuclear Scaling Initiative. The analysis, prepared by energy consultancy Solestiss and funded by the Bezos Earth Fund, suggests suppliers and manufacturers are unwilling to make long-lead investments in next-gen nuclear projects without credible signals that the demand for them exists. And utilities, it says, are reluctant to commit to these new energy sources because of cost, schedule, and supply chain uncertainties. “This dynamic suppresses investment in manufacturing capacity, workforce pipelines, qualification infrastructure, and fuel supply — compounding the very risks that deter demand,” the report stated. With supplier bases limited, a vertical integration trend is emerging, with reactor developers opting to take on the manufacturing themselves domestically instead of importing components from overseas. “Rather than waiting for a fragmented and unreliable external market to mature, several leading companies are choosing to become their own suppliers out of necessity (or, in some cases, as a hallmark of their culture),” the report stated. <h3>Key advances for reactor fleet </h3>Recent weeks have brought major project developments for advanced small modular reactors, or SMRs, the next-gen reactors expected to drive future nuclear energy output. SMRs consist of modular components that can be delivered and assembled onsite and have been touted as a more cost- and time-efficient alternative to large-scale reactors, which can cost billions and take decades to build. SMRs are still under development in the US but growing in numbers, with the first reactors set to come online by the end of the decade. On March 19, the US and Japan announced a $40 billion deal to have GE Vernova and Hitachi build SMRs in Tennessee and Alabama. Along with that project, Japan will invest up to $33 billion in natural gas power plants in Pennsylvania and Texas. The energy deals are part of a five-year, $550 billion trade agreement made last year between the US and Japan to accelerate next-generation nuclear technology. And in a key milestone for next-gen reactors, Bill Gates startup TerraPower on March 4 became the first developer to win federal approval to build a commercial SMR in the US. The Natrium advanced reactor project will be constructed in Kemmerer, Wyoming, and is targeted for completion in 2030. <h3>Policy changes meant to speed development </h3>Policy changes are also taking shape to expand the domestic reactor fleet. On March 12, the US Department of Energy rolled out an initiative to use existing nuclear energy infrastructure to put more power on the grid. Dubbed the Utility Power Reactor Incremental Scaling Effort (UPRISE), the initiative aims to expand US nuclear energy capacity by increasing the power output of existing reactors, bringing dormant facilities back online, completing stalled projects, and advancing new reactor construction. UPRISE has set a goal to achieve 2.5 GW of additional nuclear capacity by 2027 and 5 GW of total additional nuclear capacity by 2029.  In Florida, lawmakers have been taking steps to streamline the approval process for constructing nuclear reactors. On March 5, the Florida House of Representatives unanimously approved legislation authorizing the state to oversee the permitting for advanced nuclear reactor construction, taking oversight from the US Nuclear Regulatory Commission. Kim Casey, investor relations director for US uranium provider Energy Fuels, told the Journal of Commerce that regulatory, permitting and litigation timelines present additional challenges that could prolong the development of nuclear energy projects. “What we know from past experience is that building new reactors doesn’t happen quickly,” she said. Casey said the approval of TerraPower’s advanced SMR represents a “huge step” in the nuclear buildout. “I think that will tell us a lot, if things go smoothly. There’s certainly a bipartisan appetite for nuclear,” she said. The question, Casey said, becomes how nuclear developers will deal with the regulatory approval process, which can involve decades of reviews and permitting. “If they can shorten that up with support of administrations around the world, that will be exceptional not only for the industry, but for electrification across the globe,” she said. Contact Autumn Cafiero Giusti at <a href="mailto:autumn@autumngiusti.com">autumn@autumngiusti.com</a>. </div>

US nuclear energy development is surging after a series of recent approvals and initiatives to advance domestic projects — including a $40 billion deal the US struck with Japan to build next-gen reactors in southern states and a Bill Gates-backed startup receiving the federal green light to construct a first-of-its-kind reactor in Wyoming. But reactor developers will need to work through supply chain bottlenecks for those projects to materialize, according to a new report by a nuclear advocacy group. Nuclear energy projects are lining up to become a significant source of future breakbulk and project cargo as energy companies push to expand the US reactor fleet and the infrastructure to support domestic uranium production, conversion, and enrichment. The Trump administration has set a goal of expanding nuclear energy capacity from 100 gigawatts (GW) to 400 GW by 2050, while having 10 large reactors under construction in the US by 2030. But those goals could prove challenging as a “self-reinforcing market paralysis” threatens to upend the supply chain for next-gen nuclear reactors under development, according to a March 20 report from the Nuclear Scaling Initiative. The analysis, prepared by energy consultancy Solestiss and funded by the Bezos Earth Fund, suggests suppliers and manufacturers are unwilling to make long-lead investments in next-gen nuclear projects without credible signals that the demand for them exists. And utilities, it says, are reluctant to commit to these new energy sources because of cost, schedule, and supply chain uncertainties. “This dynamic suppresses investment in manufacturing capacity, workforce pipelines, qualification infrastructure, and fuel supply — compounding the very risks that deter demand,” the report stated. With supplier bases limited, a vertical integration trend is emerging, with reactor developers opting to take on the manufacturing themselves domestically instead of importing components from overseas. “Rather than waiting for a fragmented and unreliable external market to mature, several leading companies are choosing to become their own suppliers out of necessity (or, in some cases, as a hallmark of their culture),” the report stated. Key advances for reactor fleet Recent weeks have brought major project developments for advanced small modular reactors, or SMRs, the next-gen reactors expected to drive future nuclear energy output. SMRs consist of modular components that can be delivered and assembled onsite and have been touted as a more cost- and time-efficient alternative to large-scale reactors, which can cost billions and take decades to build. SMRs are still under development in the US but growing in numbers, with the first reactors set to come online by the end of the decade. On March 19, the US and Japan announced a $40 billion deal to have GE Vernova and Hitachi build SMRs in Tennessee and Alabama. Along with that project, Japan will invest up to $33 billion in natural gas power plants in Pennsylvania and Texas. The energy deals are part of a five-year, $550 billion trade agreement made last year between the US and Japan to accelerate next-generation nuclear technology. And in a key milestone for next-gen reactors, Bill Gates startup TerraPower on March 4 became the first developer to win federal approval to build a commercial SMR in the US. The Natrium advanced reactor project will be constructed in Kemmerer, Wyoming, and is targeted for completion in 2030. Policy changes meant to speed development Policy changes are also taking shape to expand the domestic reactor fleet. On March 12, the US Department of Energy rolled out an initiative to use existing nuclear energy infrastructure to put more power on the grid. Dubbed the Utility Power Reactor Incremental Scaling Effort (UPRISE), the initiative aims to expand US nuclear energy capacity by increasing the power output of existing reactors, bringing dormant facilities back online, completing stalled projects, and advancing new reactor construction. UPRISE has set a goal to achieve 2.5 GW of additional nuclear capacity by 2027 and 5 GW of total additional nuclear capacity by 2029.  In Florida, lawmakers have been taking steps to streamline the approval process for constructing nuclear reactors. On March 5, the Florida House of Representatives unanimously approved legislation authorizing the state to oversee the permitting for advanced nuclear reactor construction, taking oversight from the US Nuclear Regulatory Commission. Kim Casey, investor relations director for US uranium provider Energy Fuels, told the Journal of Commerce that regulatory, permitting and litigation timelines present additional challenges that could prolong the development of nuclear energy projects. “What we know from past experience is that building new reactors doesn’t happen quickly,” she said. Casey said the approval of TerraPower’s advanced SMR represents a “huge step” in the nuclear buildout. “I think that will tell us a lot, if things go smoothly. There’s certainly a bipartisan appetite for nuclear,” she said. The question, Casey said, becomes how nuclear developers will deal with the regulatory approval process, which can involve decades of reviews and permitting. “If they can shorten that up with support of administrations around the world, that will be exceptional not only for the industry, but for electrification across the globe,” she said. Contact Autumn Cafiero Giusti at autumn@autumngiusti.com .

Nuclear projects advance in US, but need to overcome ‘market paralysis’

<div class="phx-topic abstract-wrapper">Several regional carriers, typically second- and third-rung players in the industry, have opened new dedicated shuttle services connecting Nhava Sheva and Mundra in India to the Middle East/Persian Gulf corridor. </div>

Several regional carriers, typically second- and third-rung players in the industry, have opened new dedicated shuttle services connecting Nhava Sheva and Mundra in India to the Middle East/Persian Gulf corridor.

<div class="phx-topic">The Middle East crisis is driving a fresh influx of capacity into major Indian ports from smaller, nimble liner operators willing to offer wider Persian Gulf port reach despite the war. That comes as long-haul carriers keep operations in the conflict region either suspended or limited to certain ports deemed safe. Several opportunistic regional carriers, typically second- and third-rung players in the industry, have opened new dedicated shuttle services connecting Nhava Sheva and Mundra in India to the Middle East/Persian Gulf corridor, according to market sources. Gulf Feeder Shipping is one notable name among those rushing into the market. The UAE-based feeder line this week kicked off a new loop with direct calls to Jeddah and King Abdullah in Saudi Arabia, Sokhna in Egypt and Aqaba in Jordan. Gulftainer’s short-haul arm GT Lines is also primed to operate two separate shuttle loops from India’s Nhava Sheva and Mundra to the UAE’s Khor Fakkan in a pendulum fashion, using a fleet of three ships. Emboldened regional carriers see the Middle East crisis as yet another opportunity to reap strong freight earnings, reminiscent of the Red Sea diversions when mainline carriers were entirely avoiding the Suez Canal route due to attacks from Houthi militants while smaller liners nonetheless maintained services in the hostile region. <h3>Capacity demand to move rerouted containers </h3>Capacity demand on the disrupted Middle East trade lane has been massive in recent weeks as cargo owners look to evacuate Asian containers rerouted to Indian ports. That comes on top of the typical fiscal year-end export rush seen during March in India. Both factors are beginning to choke storage yards, according to market sources. Meanwhile, some mainliners are deploying ad-hoc vessels to clear up stranded boxes and pick up some high-yield export bookings. Cosco Shipping has positioned a vessel for an early-April sailing from three ports of loading in West India for Fujairah (UAE) and Sohar (Oman) connections, joining CMA CGM in that alternative supply chain push. Ocean rates from India to the Middle East have surged since the war, with average Nhava Sheva-Khor Fakkan/Fujairah booking rates now at about $3,500 per FEU. Space for loads to Sohar is even hotter, with carrier pricing hovering at around $4,500 per FEU. Contact Bency Mathew at <a href="mailto:bencyvmathew@gmail.com">bencyvmathew@gmail.com</a>. </div>

The Middle East crisis is driving a fresh influx of capacity into major Indian ports from smaller, nimble liner operators willing to offer wider Persian Gulf port reach despite the war. That comes as long-haul carriers keep operations in the conflict region either suspended or limited to certain ports deemed safe. Several opportunistic regional carriers, typically second- and third-rung players in the industry, have opened new dedicated shuttle services connecting Nhava Sheva and Mundra in India to the Middle East/Persian Gulf corridor, according to market sources. Gulf Feeder Shipping is one notable name among those rushing into the market. The UAE-based feeder line this week kicked off a new loop with direct calls to Jeddah and King Abdullah in Saudi Arabia, Sokhna in Egypt and Aqaba in Jordan. Gulftainer’s short-haul arm GT Lines is also primed to operate two separate shuttle loops from India’s Nhava Sheva and Mundra to the UAE’s Khor Fakkan in a pendulum fashion, using a fleet of three ships. Emboldened regional carriers see the Middle East crisis as yet another opportunity to reap strong freight earnings, reminiscent of the Red Sea diversions when mainline carriers were entirely avoiding the Suez Canal route due to attacks from Houthi militants while smaller liners nonetheless maintained services in the hostile region. Capacity demand to move rerouted containers Capacity demand on the disrupted Middle East trade lane has been massive in recent weeks as cargo owners look to evacuate Asian containers rerouted to Indian ports. That comes on top of the typical fiscal year-end export rush seen during March in India. Both factors are beginning to choke storage yards, according to market sources. Meanwhile, some mainliners are deploying ad-hoc vessels to clear up stranded boxes and pick up some high-yield export bookings. Cosco Shipping has positioned a vessel for an early-April sailing from three ports of loading in West India for Fujairah (UAE) and Sohar (Oman) connections, joining CMA CGM in that alternative supply chain push. Ocean rates from India to the Middle East have surged since the war, with average Nhava Sheva-Khor Fakkan/Fujairah booking rates now at about $3,500 per FEU. Space for loads to Sohar is even hotter, with carrier pricing hovering at around $4,500 per FEU. Contact Bency Mathew at bencyvmathew@gmail.com .

Opportunistic regional lines rush to Middle East corridor amid mainliner pause

<div class="phx-topic abstract-wrapper">Gateway Terminals named Bryan Blalock as its next president after Georgia Ports hired the stevedore’s current leader to be its next CEO. </div>

Gateway Terminals named Bryan Blalock as its next president after Georgia Ports hired the stevedore’s current leader to be its next CEO.

<div class="phx-topic">The Port of Savannah’s container stevedore has picked a new president as its current leader transitions to running the port. The Georgia Ports Authority (GPA) said in a statement Thursday that Bryan Blalock will become the next president of Gateway Terminals as of April 13. Gateway Terminals is a joint venture of Ports America and SSA Marine. Blalock will succeed Kevin Price, <a href="https://www.joc.com/article/gpa-names-next-ceo-as-savannah-readies-for-new-growth-phase-6167449">the GPA’s pick for its next chief executive starting in mid-2027</a>. Price, who will first take a role as GPA president in July, said in the statement that Blalock “has worked in all facets of our industry, brings excellent working relationships in our region and will be immediately effective in his new role, allowing a seamless management transition.” Blalock joins Gateway Terminals from Charleston-based CMC, the diversified provider of repair and maintenance services to the container industry, where he was chief operating officer responsible for 1,900 employees across more than 60 operations. Blalock has worked in the ports industry for over 35 years, the GPA said, including, according to his LinkedIn profile, 16 years with APM Terminals. Contact Michael Angell at <a href="mailto:michael.angell@spglobal.com">michael.angell@spglobal.com</a>. </div>

The Port of Savannah’s container stevedore has picked a new president as its current leader transitions to running the port. The Georgia Ports Authority (GPA) said in a statement Thursday that Bryan Blalock will become the next president of Gateway Terminals as of April 13. Gateway Terminals is a joint venture of Ports America and SSA Marine. Blalock will succeed Kevin Price, the GPA’s pick for its next chief executive starting in mid-2027 . Price, who will first take a role as GPA president in July, said in the statement that Blalock “has worked in all facets of our industry, brings excellent working relationships in our region and will be immediately effective in his new role, allowing a seamless management transition.” Blalock joins Gateway Terminals from Charleston-based CMC, the diversified provider of repair and maintenance services to the container industry, where he was chief operating officer responsible for 1,900 employees across more than 60 operations. Blalock has worked in the ports industry for over 35 years, the GPA said, including, according to his LinkedIn profile, 16 years with APM Terminals. Contact Michael Angell at michael.angell@spglobal.com .

Port of Savannah’s container stevedore picks new president

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