China Reports Trade Deficit in February – Mainly due to the timing of Chinese New Year,Chinaimported $7.3 more than it exported in the second month of 2011. Though surprising, the news is understandable considering that most manufacturers experience an extended shutdown due to the holiday.
Read more in the Wall Street Journal.
Study on Sunken Shipping Container – The Monterey Bay Aquarium Research Institute are studying the environmental impact of a 40-foot container resting on the ocean floor 12 miles off the coast of California. The container was lost in February 2004 during a stormy voyage which resulted in 23 additional containers being lost to the sea. As vessels have grown increasingly large, some have raised concerns whether enough is being done to safely load and secure cargo onboard.
Read more about the story from the Monterey Herald.
Spain Reduces Speed Limit and Fuel Consumption – In response to rising oil prices, the Spanish government slowed maximum speed limits by 10 km/h (6.2 mph) on some highways. The temporary change is expected to save nearly 30 million barrels of oil annually. Supply Chains can be affected as other countries weigh similar measures.
Read more at Consumer Reports.
TPM Held in Long Beach – The 11th annual Trans-Pacific Maritime Conference took place at the Long Beach Convention Center on Monday and Tuesday of this week. The event hosts a large group of steamship lines, shippers, government officials, economists, journalists, union representatives, etc. to discuss the container shipping industry.
Pictures of the event can be found at the Journal of Commerce.