Author: Rojda Akdag

Possible Effects of a War with North Korea on Global Trade

The problem with North Korea is not a recent one, but tensions recently increased as the number of rocket launches increased. This has alarmed U.S. allies in the region. The effects of a war in that region would be catastrophic, in terms of human casualties, but global trade would suffer badly, too. Since World War II, there have been many conflicts happening around the world, from the War in Afghanistan to the Korean War in the 1950s. The below chart shows how each economy felt the effects of a war, in terms of GDP loss. Due to its proximity...

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How Do Large Ships Deal with Hurricanes?

This year, we experienced major storms. First, Hurricane Harvey devastated the Gulf Coast, and soon after, Irma threatened the entire state of Florida and the Gulf Coast. Hurricane Katia has also caused havoc on the Mexican coast. We know how airlines deal with hurricanes, usually canceling the flights in and out of the city that is within the path of the storm. But, how do large container ships handle hurricanes and tropical weather? The worst place for a ship to be during a hurricane is finding itself in the eye of the storm, and the second worst place to...

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What’s Next for the Shipping Industry?

Technology is changing our lives so fast that it’s impacting every part of our human experience. The breakthroughs that took 40-50 years are now happening much faster, because learning and adaptation of new technologies are exponential, rather than gradual. What it took to transform an industry in 30 years, is now happening in a couple of years. Like many other industries, the shipping industry is not immune to this rapid change. Below are some new advancements that I discovered – we should expect these in the shipping industry in the next 10 years: Use of advanced materials: Metals are...

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2017’s Shipping Industry Challenges

The shipping industry is quite a volatile industry, and every year, new challenges emerge. A couple of years ago, we faced the terminal strike problem in West Coast ports, which also imbalanced the trucker industry, making the following year more difficult than before. Due to the problems in 2016, it seems the same trend will continue in 2017, too. Below are the main issues that I believe will pose new problems to the industry. The collapse of shipping giant Hanjin: No one was expecting this, since there were assurances by the mid-size shipping company that the financial problems were similar to other carriers, and...

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Manufacturing Jobs are Returning to the U.S. from a Surprise Country

China has been perceived as the main enemy of the U.S. when it comes to manufacturing, and this rhetoric has been widely-used especially during the last election. It is true that many low paying jobs for low-value items switched to China, especially after China joined the WTO back in the 2000’s, but both sides benefited heavily with this trade. American consumers were the main winners as they had access to low-prices due to low labor costs in China, and workers in China were the main winners as their income level increased annually. As China became richer and created its own upper...

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