Word: cargoing
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...constitutionally limited to one term). That's the Panama Canal expansion, a massive dig that will add a third set of locks able to handle the supersize, "post-Panamax" ships. Those vessels can hold up to 12,000 20-ft.-long containers and are considered the future of commercial-cargo shipping...
...manufacturing areas of the economy hardest hit by the drop in global trade. Yet, while the city-state (population: 4.84 million) routinely is ranked as one of the world's freest economies, it also has a sturdy social safety net. Kalithas Krishnan lost his job at a Swiss-owned cargo operator at Changi Airport at the end of March. Today he receives a monthly total of $260 in cash and food coupons from the Singapore Indian Development Association, one of several government-funded charities, plus $55 to defray school expenses for his 16-year-old son. This support...
...czars began to attract multinational companies like Hewlett-Packard, IBM and Matsushita to locate their manufacturing facilities in Singapore in the 1960s, they tacitly agreed to keep wages for blue-collar workers low by de-fanging the unions that once had a stranglehold over the labor force. As a cargo handler, for instance, Krishnan made just $1,000 a month...
Pets-Only Planes. Air travel has finally gone to the dogs. The new Pet Airways caters to your beloved Fido or Fluffy, offering dogs, cats and other domestic animals "first class pet travel" in the cabin instead of the cargo hold. Pets even get access to a special arrival lounge. Sadly, you can't fly with your baby; the aircraft are for animals only. Which begs the question, how is that different from every other airline you'd normally fly? Service starts between select cities - New York, Washington, D.C., Chicago and Los Angeles - on July 14. Fares start...
...Gates' reasoning is unlikely to deter many companies, which simply cannot afford to lose hugely valuable vessels and cargo to seaborne bandits. Indeed, insurance premiums have risen along with the ransom amounts, according to Regester, who estimates that coverage for a single voyage through the Gulf of Aden costs about $20,000. With shipping companies hard-hit by the global downturn, some opt simply to take their chances running the gauntlet of pirates, rather than pay insurance premiums. "I reckon less than 10% of vessels are insured now," says Regester. "K&R policies are considered a luxury." Whether...