The U.S. trade deficit jumped to a record high in March amid roaring domestic demand, which is drawing in imports, and the gap could widen further as the nation's economic activity rebounds faster than its global rivals.Manufacturers lack the capacity to satisfy the surge in demand because of resource constraints and bottlenecks in the supply chain. Inventories are very lean.
By the time this article is published, voting will have concluded in the 2020 United States presidential election. Based on the possibility of legal challenges to the election, however, it may be some time before we know who will be occupying 1600 Pennsylvania Avenue on January 20, 2021. Additional uncertainty may linger with regard to control of the Senate.
American shipyards form an important economic engine, supporting nearly 400,000 jobs, $25.1 billion of labor income and $37.3 billion in gross domestic product (GDP), according to figures from the U.S. Department of Transportation’s Maritime Administration (MARAD).It’s a good thing, then, that U.S.
I don’t remember when I discovered that the first application of lightbulbs occurred at sea rather than ashore. But when I dug a little deeper into the subject recently, I came across an interesting set of coincidences that shows how innovation often relies on simply doing, rather than endlessly talking about it.
Wabtec Corporation said it has been awarded a contract worth more than $10 million to supply engines for the first two of the U.S. Maritime Administration’s (MARAD) National Security Multi-Mission Vessels (NSMVs) being built at Philly Shipyard.In April Philly Shipyard was selected to build up to five NSMVs that will enable at-sea training for America’s future mariners and support humanitarian
Waterways Council, Inc. (WCI) is the national public policy organization that advocates for a modern, efficient inland waterways system. Abiding by our mission has meant success over our 17-year history. In 2020, WCI’s top priority is to conform the cost-share for Inland Waterways Trust Fund (IWTF)-financed construction projects to require 25% of the project cost be derived from the IWTF and the
A crew member from the containership MSC Gayane pleaded guilty to cocaine trafficking stemming from a $1 billion bust in the Port of Philadelphia, one of the largest drug seizures in U.S. history.The 27-year-old Montenegrin Vladimir Penda entered a plea of guilty before U.S. District Court Judge Harvey Bartle III on charges of conspiracy to possess with intent to distribute 5 kilograms or more
The U.S. maritime industry takes great pride in our motto: “In Peace and War.” It sums what we’re all about. From colonial times, through the Revolution, the Civil War, two World Wars, several regional conflicts, and many natural and humanitarian disasters, we got the cargo delivered because our economic security and our national security depend on it.
Victaulic appointed Rick Bucher as Chief Executive Officer, succeeding John F. Malloy, effective January 31, 2021. Dr. Bucher was named President of Victaulic in April of 2020, following a June 2019 appointment as Chief Operating Officer. Prior to joining Victaulic in 2009 as Vice President of Engineering, Dr. Bucher worked for 15 years for W.L.
GE’s Power Conversion business has been awarded a $40 million contract to supply the power and propulsion systems for two National Security Multi-Mission Vessels (NSMV). This new class of purpose-built ships for the U.S. Department of Transportation's Maritime Administration (MARAD) will be used primarily to provide cadets with at-sea training on operational vessels.
Philly Shipyard announced Wednesday that Jeffrey Theisen will re-join the company as Chief Financial Officer, effective September 8. Theisen fills the vacancy created by last month's sudden passing of Brian Leathers.Theisen previously served as Philly Shipyard's CFO for eight years, from 2007 - 2015.
The Great Lakes Shipyard on Wednesday launched the new tug Wisconsin, the fifth in a series of 64-foot Damen Stan tug 1907 Ice design harbor tugs that the Cleveland, Ohio shipyard is building for The Great Lakes Towing Company.Wisconsin, like its sister tugs, is powered by two 1,000-horsepower MTU 8V4000 Tier III diesel engines, and generates over 30-tons of bollard pull.