^ Image “News Map Shows Worldwide Journalism Or Media Information” courtesy of Stuart Miles at FreeDigitalPhotos.net
November, 2016 may have already come and gone, but this month’s dramatic events signal changes that have just begun. Kemplon Engineering takes a look back at some of the industry’s major news and developments, in this edition of the Monthly Maritime News Roundup:
November kicked off with the surprise victory of Donal Trump as president-elect of the United States of America. With his campaign promises slanted toward protectionism – championing local manufacturing, railing against the outsourcing of jobs to cheaper foreign markets, criticizing international trade agreements like the NAFTA, calling for China to be labeled as a currency manipulator, etc. – there may be some uncertainties on the horizon for the maritime industry, notably with shipping which is impacted by trade, as well as in defense which is impacted by foreign policy.Interestingly, shipping stocks in the United States have gone up following the elections. Though this seems counterintuitive to Trump’s anti-globalization rhetoric, the spike has been attributed to other factors, like potential tax cuts, repatriation of offshore cash, and spending on infrastructure. It’s too early to tell of course, if this rally sustainable.
The Philippines had welcomed a new President in 2016 too, with controversial strongman Rodrigo Duterte who has been in office since July. It may be recalled that the former mayor had strained interactions with the United States under President Barack Obama, and has not pulled back the punches on criticizing the Philippines’ long-term ally. Duterte’s fiery tirades have created diplomatic nightmares for his administration, prompting officials to walk back some of his statements. His posturing, however, could usher in difficulties for the United States, which has recently “pivoted to Asia” in its foreign policy under Obama. How a Trump presidency would impact Duterte’s deviation from the United States and his current flirtations with emerging naval superpower China is yet to be seen, but the Filipino is said to have welcomed the Trump victory with enthusiasm.
November also ushered in new men in key leadership positions on the business side of the maritime industry. The American Association of Port Authorities welcomed Mark McAndrews, Port of Pascagoula’s director, as Chairman of the Board for 2016-2017, in a meeting in New Orleans late in October. The Cruise Industry’s CLIA announced new leadership too, with Carnival Corp. CEO Arnold Donald as their new global chairman as of January, 2017.
Protesters in South Korea are also looking for a changeup in leadership, but in an entirely different way and for entirely different reasons. Hundreds of thousands of people have taken to the streets of the capital of Seoul in a series of protests, seeking the ouster of President Park Geun-hye over a corruption scandal. It’s a tough time for a political scandal; South Korea is still reeling from the effects of the bankruptcy of the 7th largest shipping line in the world, Hanjin, with seized or idle vessels, and trapped cargo estimated to be in the billions of dollars. November proved tricky on the international relations front, too – South Korean Coast Guard is shown on video opening fire with machine guns aimed at Chinese boats allegedly fishing illegally in the country’s waters. Thankfully, there were no casualties.
In other news, sportswear brand Adidas collaborated with Parley for the Oceans on designing the “UltraBOOST Uncaged Parley-” athletic shoes made of plastic recovered from the ocean and recycled materials. Only 7,000 pairs will be available for sale for now, but Adidas has big plans for eventually removing “virgin plastic” from their supply chain.
Other reasons to celebrate this month? The International Maritime Organization (“IMO”) launches a Maritime Safety Research Center and a kid-friendly website. The former is the first of its kind in the world, with the aim of improving safety at sea through the combined efforts of the industry and the academe. The latter is a website with colorful and enticing graphics and animation designed to interest children in IMO’s conservation work.
November is also a time for honoring our Veterans, and for gathering with our loved ones for Thanksgiving. What a whirlwind month! We at Kemplon Engineering are one with our nation in hoping that amidst all the changes in the wind, the best is yet to come.
For more in-depth content on maritime industry news and developments, check out our blog, and make sure to check in with us again at the end of December for our Year in Review.
Our blog is just one part of our commitment to meeting the needs and interests of our marine and industrial customers. At Kemplon, we have a can-do attitude about our work. To learn more about us, explore our website and see our approach to projects involving welding and fabrication, precision machining, pipe fitting, laser cutting, and other engineering services. You may also want to get in touch with us at email@example.com, or by phone at (877) 522-6526. We would love the chance to work with you!
For Further Reading
Allen, Katie. “Trump’s economic policies: protectionism, low taxes and coal mines.” The Guardian, 09 Nov 2016. Web. 05 Dec 2016. https://www.theguardian.com/us-news/2016/nov/09/trumps-economic-policies-protectionism-low-taxes-and-coal-mines
Dodwell, David. “Hanjin Shipping collapse may be the beginning of the end for profitable global trade.” South China Morning Post, 27 Nov 2016. Web. 05 Dec 2016. http://www.scmp.com/business/global-economy/article/2049560/hanjin-shipping-collapse-may-be-beginning-end-profitable
Elvey, Suz. “South Korean coastguard caught on camera firing MACHINE GUNS at Chinese boats ‘illegally’ fishing in their waters.” Mirror, 13 Nov 2016. Web. 05 Dec 2016. http://www.mirror.co.uk/news/world-news/south-korean-coastguard-caught-camera-9251205
“IMO Sets Up Website for Kids.” The Maritime Executive, 21 Nov 2016. Web. 06 Dec 2016. http://www.maritime-executive.com/article/imo-sets-up-website-for-kids
Lake, Eli. “The Philippines Just Blew Up Obama’s Asia Pivot.” Bloomberg, 21 Oct 2016. Web. 05 Dec 2016. https://www.bloomberg.com/view/articles/2016-10-21/the-philippines-just-blew-up-obama-s-asia-pivot
Limone, Jerry. “CLIA selects Arnold Donald as global chairman.” Travel weekly, 14 Nov 2016. Web. 05 Dec 2016. http://www.travelweekly.com/Cruise-Travel/CLIA-selects-Arnold-Donald-as-global-chairman
McAlone, Nathan. “Adidas is selling only 7,000 of these gorgeous shoes made from ocean waste.” Business Insider, 04 Nov 2016. Web. 05 Dec 2016. http://www.businessinsider.com/adidas-shoe-from-plastic-ocean-waste-2016-11
“New Chairman for American Ports Association.” The Maritime Executive, 01 Nov 2016. Web. 05 Dec 2016. http://www.maritime-executive.com/article/new-chairman-for-us-ports-association
“New Maritime Safety Center Launched.” Cruise Industry News, 19 Nov 2016. Web. 06 Dec 2016. http://www.cruiseindustrynews.com/cruise-news/16023-new-maritime-safety-center-launched.html
Pepper, Fiona and Alex McClintock. “South Korea’s bizarre political crisis: What you need to know.” ABC.net.au, 01 Dec 2016. Web. 05 Dec 2016. http://www.abc.net.au/news/2016-12-01/what-you-need-know-about-south-koreas-bizarre-political-crisis/8082392
“U.S. Shipping Stocks Sure Are Liking Donald Trump’s Presidency Win.” gCaptain.com, 10 Nov 2016. Web. 05 Dec 2016. http://gcaptain.com/shipping-stocks-sure-are-liking-donald-trumps-presidency-win/
Vardi, Nathan. “The Donald Trump Shipping Stock Boom.” Forbes, 15 Nov 2016. Web. 05 Dec 2016. http://www.forbes.com/sites/nathanvardi/2016/11/15/the-donald-trump-shipping-stock-boom/#787d573a536b
Woody, Christopher. “Donald Trump’s election has the Philippine president singing a different tune.” Business Insider, 13 Nov 2016. Web. 05 Dec 2016. http://www.businessinsider.com/rodridog-duterte-reacts-to-donald-trump-effect-on-philippines-economy-2016-11