Long-term trends in global trade should really worry big boat owners
Thu, Jun 16, 2016 - 5:50 AM
Benjamin Franklin at its berth at Long Beach, California in February this year. Global capacity will increase by 4.5 per cent this year, and by another 5.6 per cent in 2017 - almost entirely due to new mega-vessels like the Benjamin Franklin.
IN December, the quarter-mile-long Benjamin Franklin became the largest cargo ship ever to dock at a US port. Five more mega-vessels were supposed to follow, creating a trans-Pacific shipping juggernaut by the end of May. But thanks to a massive miscalculation on the part of the...