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Displaying items by tag: Global economy

#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

Dun Laoghaire Regatta 2023 Coastal Class

Two Irish hopes in the 2023 Fastnet Race from Cowes will compete first in a 20-boat Coastal Class at July's Volvo Dun Laoghaire Regatta (VDLR).

Pre-event favourites must be the First 50 Checkmate XX, fresh from Sovereign's Cup victory (three wins from four races sailed) and the Grand Soleil 44 Samatom.

Four races and one discard for the coastal division will be under International Race Officer Con Murphy.

The course will be decided on the race day and communicated to each skipper via a dedicated Offshore WhatsApp group at least one hour before the start. 

The finish will be between the Pier Ends at the Dun Laoghaire Harbour entrance. The finishing time will be taken from the Yellowbrick tracker system.

The class will be the first to start on Thursday, with a warning signal at 1425 and 0955 on Friday. Coastal starts at 1055 on Saturday and 0955 on Sunday. 

The course will use DBSC Marks, Volvo Yellow inflatable Top Hat and Shipping Navigation Marks.

Dun Laoghaire Regatta 2023 Coastal Class Entries

GBR 8859R Jackknife J125 Andrew Hall Pwllheli
GBR 8911R Jezebel J111 1.093 Cris Miles Pwllheli Sailing Club
IRL 3435 Albireo 0.928 David Simpson RIYC
IRL 9898 Indecision J109 1.007 Declan Hayes RIYC
IRL 811 RAPTOR 1.007 Fintan Cairns RIYC
GER 6577 Opal 1.432 Frank Whelan GSC
GBR 9740R SLOOP JOHN T SWAN 40 Iain Thomson
IRL 1507 1.057 James Tyrrell ASC
IRL 1129 Jump The Gun J109 1.005 John M Kelly RIYC
GBR 7536R Hot Cookie Sunfast 3600 John O'Gorman NYC
IRL 3471 Black Velvet 0.979 Leslie Parnell RIYC
IRL 4007 Tsunami First 40.7 Michelle Farreall National Yacht Club
IRL 66 Checkmate XX 1.115 Nigel BIGGS HYC
GBR 6695R Wild Haggis Farr 30 1.060 Nigel Ingram Holyhead
GBR 9496T Bojangles J109 0.999 Paul HAMPSON Liverpool Yacht Club
IRL 1367 Boomerang Beneteau 36.7 0.997 Paul Kirwan
GBR 8992R Lightning Farr 30 1.074 Paul Sutton Holyhead Sailing Club
GBR 9047R Mojito J109 Peter Dunlop Pwllheli SC - RDYC
GBR 9244R Samatom Grand Soleil 44R 1.134 Robert Rendell HYC
IRL 44444 Magic Touch 0.979 Steve Hayes GSC
IRL 3317 Scotia First 31.7 0.930 Terence Fair Ballyholme yacht club
GBR 5373 Honey Bee Hunter HB31 0.900 William Partington Pwllheli Sailing Club / SCYC