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Maritime’s Economic Recovery

Posted on 10 December 2021 by Maritime Matrix

A team at the University of Oxford measured economic declines in energy and supply chains during 2020, identifying a 10 percent drop in maritime trade worth more than $400 billion in losses. Tracking movements of 100,000 vessels, the researchers noted Continue reading Maritime’s Economic Recovery→

Commerce in U.S. Waters

Posted on 1 October 2021 by Maritime Matrix

In September, Steve Forbes called for an overhaul of the Jones Act to address “outdated” stipulations, requiring trade between US ports to occur on American-built ships, which are crewed and owned by Americans. According to Forbes, the Act increases shipping Continue reading Commerce in U.S. Waters→

Maritime News Coverage

Posted on 30 August 2021 by Maritime Matrix

Bringing news to the masses, global publications cover the rich, evolving history of the Maritime trade for more than 150 years. In 1873, the New York Times announced the Maritime Association’s opening, sparking optimism about New York’s sea-based trading. The Continue reading Maritime News Coverage→

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Maritime Gender Equality

21 December 2021Maritime TradeThe United Nations seeks to empower women and advance gender equity in the industry. By encouraging partnerships with maritime associations, educational institutions, and corporate America, the UN has established objectives for achieving balance. Surprisingly, one maritime group is ahead of the curve in hiring parity. Riverboat casinos and other water-based casinos are largely gender-balanced because gaming boards require casinos like https://www.playstar.us/free-casino/ to adhere to equitable hiring practices. More than 750,000 casino workers provide services to more than 1,000 land- and water-based establishments in 40 states. These women and men are spearheading a thriving segment of the economy. In August, at a virtual conference on empowering women, maritime leaders encouraged a balanced workforce for oceanic and seafaring positions. For nearly 30 years, less than 2 percent of women chose seafaring careers. Working in collaboration with industry leaders, the UN aims to improve on these statistics through education. Lack of data is one barrier to overcoming gender-related challenges in the industry. In 1983, women represented only 3 percent of maritime students. Since 2015, those numbers have increased significantly, and some programs enjoy a good ratio of male to female maritime students. Objectives As partners with the International Maritime Organization, UN objectives align with educational goals for empowering women and achieving equality between the genders. By working toward these objectives, IMO and the UN plan to assess gender impacts and balance information about maritime opportunities. Maritime industries have experienced significant improvement in moving toward gender equality. Water-based casinos are leading the way by recruiting qualified applicants from a variety of backgrounds, ensuring gender parity. [...]

Maritime’s Economic Recovery

10 December 2021Online PublicationsA team at the University of Oxford measured economic declines in energy and supply chains during 2020, identifying a 10 percent drop in maritime trade worth more than $400 billion in losses. Tracking movements of 100,000 vessels, the researchers noted a manufacturing plunge of nearly 12 percent, which directly impacted shipping revenues and caused a decline in traffic for port-based casino enterprises. Impacts Quantifying the economic impact of COVID-19 in maritime trade is a complex endeavor involving immense data analysis and advanced algorithms to track economic activity. Global shutdowns sent ripples through the economy, leading to a significant drop in overall commerce. Schools closing caused a disruption, leading to a significant reduction in the purchase of goods. By comparing maritime trade from the previous year to 2020 data, the team noted significant slumps in port-level activity, impacting entertainment venues and betting establishments, which rely on robust trade to attract customers. Developing countries and smaller islands saw unprecedented declines, related to both trade and tourism, the economic bedrock for smaller markets. Oxford’s maritime trade analysis is vital for responding to future crisis’s, providing essential information about pandemic economic impact and recovery. This essential data ensure that decision-makers have a firm understanding of the shutdown effects on maritime trade and the global economy. Many expected the worldwide vaccine distribution to help maritime commerce rebound. In 2021, trade in goods exceeded 2020 levels. However, global trade increases are unbalanced, with some smaller economies rebounding at a slower rate. However, more trade growth is expected, an outlook met with optimism by commerce leaders and praised by players in the casino industry. Fewer pandemic restrictions support robust economic growth for maritime trade, the casino industry, and other markets. As governing bodies grapple with the evolving pandemic landscape, maritime trade and economic recovery hang in the balance. [...]

Commerce in U.S. Waters

1 October 2021Online PublicationsIn September, Steve Forbes called for an overhaul of the Jones Act to address “outdated” stipulations, requiring trade between US ports to occur on American-built ships, which are crewed and owned by Americans. According to Forbes, the Act increases shipping expenses and harms energy enterprises. Here is an overview of the Act and two industries impacted by recent rulings. Overview The 1920 Merchant Marine Act, also known as the Jones Act, only allows ships built in the US, crewed by American citizens or permanent residents, and owned by American citizens to move goods between US ports. For more than 100 years, lawmakers have supported the Act in an effort to increase domestic maritime commerce. The Act also protects sailors, allowing them to seek legal redress under certain circumstances. Wind By mid-2021, US Customs (CBP) ruled that floating offshore wind projects are subject to the requirements of the Jones Act. However, the ruling allowed for owners to use a mix of American and foreign-made barges to position the single turbine generators into place in federal waters. In consideration, the CBP noted that foreign barges are not involved in transportation but positioning, excluding them from Jones Act requirements. Casinos In early 2020, the Louisiana Supreme Court affirmed a US Supreme Court ruling that casinos, which are permanently moored, are not subject to the regulations of the Jones Act. The court declined to accept the expanded definition of “vessel,” applied by a state appeals court. Under the broadened definition, maritime law would apply to riverboat workers, giving them Jones Act protections. However, the Louisiana Supreme Court decided those riverboat casinos are not vessels and are therefore not required to adhere to Jones Act regulations governing maritime vessels. [...]

Maritime News Coverage

30 August 2021Maritime Trade / Online PublicationsBringing news to the masses, global publications cover the rich, evolving history of the Maritime trade for more than 150 years. In 1873, the New York Times announced the Maritime Association’s opening, sparking optimism about New York’s sea-based trading. The paper was not alone in its early coverage. In the 1860s, the Merchants Exchange & News Association (MENA) followed the industry closely, distributing information about traffic and tracking the traveling positions of the ships. Major media players plunged into covering the busy maritime industry, recognizing its newsworthiness. History Maritime Association founders ensured accurate and timely news distribution. By 1890, Western Union purchased a telegraph news exchange company, MENA, founded in 1874, from a company that acquired the exchange in 1878. From ship sales and auctions to government regulations, all maritime information is posted to the exchange. As the technology evolved, so did the way maritime news was delivered, incorporating radio and computer-aided distribution. Early and consistent news distribution helped New York’s maritime businesses to thrive, making it one of the leading global trade centers. During World War I, New York ports were a major hub for supplies and troop travel. By World War II, MENA convened a committee to address the port’s congestion. The committee effectively developed a system, which efficiently routes millions of tons of cargo. In 1944, MENA partnered with the Navy to protect ships from damage. At the time, more vessels traveled through New York than any port in history. MENA plays a vital role in keeping the public informed about port activities. Today, staff members work diligently to keep news outlets and stakeholders informed about traffic, changes, charges, quarantine information, and evolving laws. International conventions draw industry leaders together to exchange information and address concerns about global maritime trade. By partnering with trade publications, print magazines, and online distribution channels, the Association ensures the timely distribution of information, which has been the trademark of the Merchant Exchange’s vibrant success in guiding the growth of maritime commerce. [...]

Reducing Maritime Emissions

23 August 2021Maritime TradeThe goal of reaching 50 percent carbon reduction by 2050 is gaining momentum. Players are charting the path with equipment and technology upgrades in an effort to obtain zero emissions. In June, IMO focused on addressing climate change challenges at an environmental protection forum. Participants discussed a way forward for reducing ship emissions and transitioning to a greener industry. Data While technologies and satellites monitor global carbon emissions, data analysis tracks the source, opening the door for changes. From ports to ships, information about the origin of high carbon levels allows leaders to address the problem by balancing profits against environmental considerations. In 2020, data from tracking CO2 emissions showed the level of carbon released by top shipping fleets in geographical areas. Smaller vessels tend to have a lower emission rate than larger vessels. Speed also plays a role in the amount of carbon released during transport. By reducing a vessel’s speed, executives may save millions of tons in carbon emission over the course of a year. Private companies must decide how to balance the demand against the commitment to reduce the industry’s carbon footprint. Additional paths to reducing emissions include fuel, route, and load optimization. Research Increasing research funding is a vital step toward developing no-carbon ships in the next decade. IMO and industry partners are spearheading a multi-billion-dollar effort to develop prototypes for zero-carbon technologies and fuels for maritime shipping. Industry trade groups are calling for a carbon tax to help fund research. The challenge to meet decarbonization milestones is intense, with industry leaders giving priority to high-efficiency ships and developing new, effective ways to reduce emissions. [...]