A dedication ceremony took place at the World Trade Center site yesterday, marking the completion of the National September 11 Memorial Museum before it opens to the general public on May 21. President Obama was in attendance for the ceremony, which honored those killed in both the terrorist attacks of September 11, 2001, and the earlier February 26, 1993 bombing.
Korea’s Daewoo is to build the world’s largest ship for Mærsk line. The US$190 million, 400 meter ‘Triple-E’ class behemoths will carry 18,000 TEU containers, 2500 more than the current largest, Emma Mærsk. Superior economies of scale will enable the new monsters to surpass the industry record for both fuel efficiency and (20% better) CO2 emissions per container moved. In a move set to impact global shipping transport costs and efficiencies, ten Triple-E ships will go into service between 2013 and 2015 with a further 20 ships optioned. If the same number of containers were loaded on a train, it would be 110 km long. If they were stacked on top of one another, they’d reach beyond the stratosphere (47 km).
World trade suffered the biggest decline in more than 70 years in 2009, but is set to rebound with 9.5% growth in 2010, according to the WTO
. The global economic crisis sparked a 12.2% contraction in the volume of global trade, though measured in US dollars, global exports fell by a whopping 23% from the 2008 peak, due mainly to falling oil prices and a sharp contraction in global demand for all types of goods, especially consumer durables (e.g. automobiles) and investment goods (e.g. industrial machinery). Though China's exports fell by 16% in value in 2009, China finally became the world's largest exporter in 2009, a mantle it can be expected to hold for the forseeable future.