90% of world trade moves on water

Issue 7.28

July 9, 2021

HERE'S WHAT'S BEHIND THE

CONTAINER SHIP TRAFFIC JAM CAUSING

DELAYS AROUND THE WORLD

90% of world trade moves on water.

Watch this interesting video by CNBC on the causes of disruption on international trade:

What's Causing The Container Ship Traffic Jam Clogging Up Global Trade

THE CURRENT GLOBAL LOGISTICS MESS

3 REASONS WHY IT'S GOING TO TAKE

LONGER TO UNRAVEL

If you’re involved in global shipping or even a consumer who recently purchased furniture or other bulky items, you’re well aware of the sorry state of global logistics. The pandemic and its knock-on effects have created global shipping chaos and driven astronomical shipping costs. While we are all enduring the consequences, the big question now is when will global logistics return to normal?

Inventories are way down and retailers want to hold more of it in the future
Inflation is up, but still viewed as manageable and history says it can go higher before stunting demand
The economy continues to reopen and the Fed expects robust job creation through the fall

BIDEN ADMINISTRATION NOMINATES FORMER GOV. MARKELL TO SERVE AS U.S. AMBASSADOR TO OECD

Former Delaware Gov. Jack Markell has been nominated by President Joe Biden to serve as the U.S. ambassador to the Organization for Economic Cooperation and Development....Markell will need to be confirmed by the U.S. Senate. The OECD is headquartered in Paris. Read more >

QUICK FACT

With $600 million in new investment,

the Port of Wilmington’s capacity is expected to quintuple

GT USA WILMINGTON CONTINUES MASSIVE PORT EXPANSION

Since signing a 50-year management deal in September 2018, GT USA Wilmington has invested $118 million to upgrade the port of Wilmington, which has specialized in refrigerated cargo — something it will continue to do.

But Eric Casey, CEO of the Wilmington operation, said the port is just gearing up for its big presentation, which will be an entirely new seaport in Edgemoor, DE. Read more >

Maritime is extremely infrastructure-heavy and requires great capital investment. At the end of the day, everyone wants clean air and water. In time, environmental requirements will be changed. If you are ahead of the requirements, you helped set the narrative. If you’re behind, it will be expensive.” - Eric Casey, CEO, GT USA Wilmington

What to do with $1 billion?

The State Chamber’s Infrastructure and Transportation Committee met on June 28th for the second round of discussion around ideas on how the State could invest the additional $1 billion or more it's set to receive from the federal government. Read more >