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Displaying items by tag: Irish state bank guarantee

#PORTS & SHIPPING- Vega Stockholm, a vessel which featured in the BBC The 'Box' that tracked the movements of a single container around the world in 2008, coinciding with the start of the credit crunch crisis and telling the story of globalisation and the world economy, departed Dublin Port this evening, writes Jehan Ashmore.

The Box travelled the world ( totalling 50,000 miles) first departed from the  BBC TV Centre headquarters, London and headed northwards by road to Scotland. From there the Box was loaded on board the Vega Stockholm in Greenock and she departed on 12th September (see PHOTO) and made an en route call to Belfast before arriving the next day in Dublin Port. Only 16 days later the fateful decision by the Irish Government  to bail-out the Irish banks was made with a state guarantee.

The domestic economic crisis was also set against some of the most dramatic developments in the global economy including the first global recession in 60 years, notably with the fall of global finances giant Lehman Brothers.

The container box or forty equivalent units or (FEU) in industry parlance was painted in distinctive red and emblazoned with the words BBC News and the website www.bbc.co.uk/thebox so it could be tracked online across continents and oceans in addition to coverage by T.V. and radio. To trace the route taken by Box over 421 days to and from the UK, click HERE. In addition for further photographs taken by viewers following the Box departing the Clyde on board the container vessel click HERE.

On the first leg of a worldwide journey, Vega Stockholm (2006/8,306grt) departed the Scottish port with the Box laden with 15,000 bottles of Scotch whiskey bound for Shanghai, though this particular 'feeder' vessel would of carried the box to another port prior to onward shipment to the Far East by  a much larger containership.

The Box carried other cargoes on different legs as part of its worldwide journey to include 4000 shoes and over 95,000 tins of cat food for our fluffy friends. Of the entire journey, over 47,000 miles was spent crossing the oceans.

The box itself suffered some battering along the way including that of an economic front as the container sat still for three months in the docks of the Japanese port of Yukohoma.

At the time a  record 10% of the fleet were idle, and revenues per container were  likely to have dropped from already extremely depressed levels. The journey of the Box made for an interesting time to be following a container around the world.

To put some figures into context during the exercise the global container business made a collective profit of £3bn in 2008, but is estimated to have lost a cool £20bn in 2009.

After the Box arrived back to Southampton with vehicle parts, the container finally returned to London. Perhaps the most ironic tale of the exercise was the actual fate of the 'Box' itself, as it was reported the container ended up in South Africa to be converted for use as soup kitchen, another story for the Beeb!

Published in Ports & Shipping

Whether you're a boat enthusiast, historian, archaeologist, fisherman, or just taken by the natural beauty of Ireland's waterways, you will find something of interest in our Inland pages on Afloat.ie.

Inland Waterways

Ireland is lucky to have a wealth of river systems and canals crossing the country that, while once vital for transporting goods, are today equally as important for angling, recreational boating and of course tourism.

From the Barrow Navigation to the Erne System, the Grand Canal, the Lower Bann, the Royal Canal, the Shannon-Erne Waterway and the Shannon Navigation, these inland waterways are popular year in, year out for anyone with an interest in rambling; flora and fauna; fishing; sailing; motorboating; canoeing, kayaking and waterskiing; and cruising on narrowboats.

Although most will surely identify Ireland's inland waterways with boating holidays and a peaceful afternoon's angling, many varieties of watersport are increasingly favoured activities. Powerboat and Jetski courses abound, as do opportunities for waterskiing or wakeboarding. For those who don't require engine power, there's canoeing and kayaking, as Ireland's waterways have much to offer both recreational paddlers and those looking for more of a challenge. And when it comes to more sedate activities, there's nothing like going for a walk along a canal or river bank following some of the long-distance Waymarked Ways or Slí na Sláinte paths that criss-cross the country.

Ireland's network of rivers, lakes and canals is maintained by Waterways Ireland, which is one of the six North/South Implementation Bodies established under the British-Irish Agreement in 1999. The body has responsibility for the management, maintenance, development and restoration of inland navigable waterways on the island of Ireland, principally for recreational purposes. It also maintains Ireland's loughs, lakes and channels which are sought after for sailing; the network of canal locks and tow paths; as well as any buoys, bridges and harbours along the routes.

Along the Grand and Royal Canals and sections of the Barrow Navigation and the Shannon-Erne Waterway, Waterways Ireland is also responsible for angling activities, and charges Inland Fisheries Ireland with carrying out fisheries development, weed management and ensuring water quality.

Brian Goggin's Inland Blog

Giving his personal perspective on Ireland's Inland Waterways from present-day activities to their rich heritage, Brian Goggin tells it like it is with his Inland Blog.

From recognising achievements in management of the waterways to his worries on the costs of getting afloat on Ireland's canals, Goggin always has something important to say.

He also maintains the website Irish Waterways History that serves as a repository for a wealth of historical accounts of the past commercial and social uses alike of Ireland's rivers and canals, which were once the lifeblood of many a rural community.