Word: lusteveco
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...earned a place in the country's history and legend. In existence as an independent nation for only 21 years, the Philippine Republic is still pushing back its own frontiers, and it has a carrier that is playing much the same part as the U.S. pioneers. It is Lusteveco (short for Luzon Stevedoring Co.), the biggest and fastest-growing commercial cargo handler in transportation-shy Southeast Asia...
Based in Manila, Lusteveco operates both on land and sea, and its frontier is formidable. Half of the country's 38,000 miles of roadway is ordinarily undrivable. Its waterways, which are more important than the land routes, trace a hazardous course among 7,000 islands ranging from Luzon in the typhoon-tossed north to Mindanao, 1,100 miles to the south where the seas are placid-except for roving Moro pirates...
Postwar Windfall. Braving such obstacles, Lusteveco deploys a fleet of 500 trucks on land, a small coastal navy of 16 tankers, 107 tugs and 448 barges at sea, and a string of modern warehouses at major ports. The company moves 80% of the country's vital interisland traffic: home-grown timber, coconut and sugar on its way to port for overseas markets; steel, machinery and other imports headed from Luzon to other parts of the nation. Lusteveco stevedores shoulder nearly all the Philippines' foreign trade borne by ships, which may be docked by Lusteveco tugs, provisioned at Lusteveco...
...company totted up record sales of $26 million last year, which is a long Philippine sea mile from its beginning in 1909, a decade after Commodore Dewey routed the Spanish colonialists in Manila Bay. Founded by a group of U.S. veterans of the Spanish-American War, Lusteveco got its modest start by bunkering coal-hungry...