Economic Council News

Massachusetts Maritime Academy (MMA), a top-ranked public university with undergraduate degree programs focusing on science, engineering, technology, math, and business that blend academics and experiential learning, announced the reappointment of Elizabeth B. Simmons, vice president of external affairs, to the reconstituted Seaport Economic Council.Named to the Council by Governor Maura Healey, Simmons serves on the newly reconstituted 15-member body, which is updating its mission and membership to better advance economic growth…

This week's reopening of Baltimore's main shipping channel - less than three months after the Key Bridge collapse - was due to expertise gained from a COVID-era task force, a highway overpass collapse and the 2021 infrastructure law, government officials said.The deadly March 26 collision of the cargo ship Dali into the Francis Scott Key Bridge had paralyzed a major transportation artery for the U.S. Northeast.Within hours, President Joe Biden directed aides to get the channel reopened, the bridge rebuilt and vowed the federal government would cover the full costs.

Norwegian Cruise Line must pay $110 million in damages for use of a port that Cuba's government confiscated in 1960, a U.S. judge ruled on Friday, a milestone for Cuban-Americans seeking compensation for Cold-War era asset seizures.The decision by U.S. District Judge Beth Bloom in Miami follows her March ruling that the use of the Havana Cruise Port Terminal constituted trafficking in confiscated property owned by the plaintiff, Delaware-registered Havana Docks Corp."Judgment is entered in favor of Plaintiff Havana Docks Corporation and against Norwegian Cruise Line Holdings…

The U.S. Economic Development Administration (EDA) earlier this month awarded a $50 million federal grant to H2theFuture, a 25-organization partnership aiming to develop a new energy cluster in South Louisiana, spanning the clean hydrogen life cycle, from R&D at Louisiana universities, to an end-use project at the Port of South Louisiana.The award is one of 21 projects from around the country chosen from 529 applicants that were funded by a $1 billion appropriation from the American Rescue Plan Act…

The White House on Tuesday unveiled a new pilot effort to help clear supply chain bottlenecks at congested U.S. ports by getting truckers, shippers, wholesalers, retailers and other businesses to share information.U.S. Transportation Secretary Pete Buttigieg and National Economic Council Director Brian Deese launched the Freight Logistics Optimization Works (FLOW), an information sharing initiative "to pilot key freight information exchange between parts of the goods movement…

In the William M. (Mac) Thornberry National Defense Authorization Act (NDAA) for Fiscal Year 2021, Congress amended the Port Infrastructure Development Program (PIDP) administered by the U.S. Maritime Administration (MARAD) to reserve to smaller ports 18% of the amounts appropriated for grants under the PIDP, and increased this percentage to 25% in the NDAA for FY 2022. This replaced the minimum dollar threshold for PIDP grants of the lesser of $10 million or 10% of the total amount appropriated for the PIDP for a fiscal year.

President Joe Biden said U.S. actions to eliminate supply-chain snarls have staved off a pre-Christmas crisis, ahead of a meeting with U.S. officials and private-sector companies, including FedEx, on Wednesday.Biden created a task force in June to address high prices and shortages of consumer goods and crucial components, thanks to pandemic-related labor and demand issues.After pushing for round-the-clock port operations, new transport rules and enlisting the help of big retailers including Walmart Inc.

The White House on Wednesday lauded improvements in clogged U.S. supply chains, with more goods moving than ever before, but said more work was needed to ensure fair competition in a global shipping sector dominated by three alliances of ocean carriers.In a new blog, the White House National Economic Council said the Federal Maritime Commission (FMC), an independent agency, was already investigating excessive shipping fees, but should consider using other tools, including challenging…

The White House and the U.S. Department of Transportation announced on Friday that John D. Porcari will be the Port Envoy to the Biden-Harris Administration Supply Chain Disruptions Task Force.Porcari will work closely with Secretary Buttigieg and the U.S. Department of Transportation (USDOT) as well as the National Economic Council to address congestion at U.S. ports. Disruptions in global shipping and rapid shifts in demand have led the cost of shipping containers between China and the West Coast to grow more than 90% compared to 2019. Containerized cargo volumes rose 40% in the first half of this year compared to the same time last year at the Ports of Los Angeles and Long Beach, which together handle the largest share of containerized cargo moving through U.S. ports.

U.S. President Joe Biden on Wednesday announced America's return to the international Paris Agreement to fight climate change, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming.The announcements also included a sweeping order to review all of former President Donald Trump's actions weakening climate change protections, the revocation of a vital permit for TC Energy's Keystone XL oil pipeline project from Canada…

Baker-Polito Administration Celebrates the First-in-the-Nation Offshore Wind Training Facility Located at Massachusetts Maritime Academy. MMA steps out in front to train the professionals who will make the coming wave of domestic offshore wind.Today, Governor Charlie Baker, Lt. Governor Karyn Polito, Secretary of Energy and Environmental Affairs Kathleen Theoharides, and Stephen Pike, CEO of the Massachusetts Clean Energy Center, joined officials from the Massachusetts Maritime Academy to launch the first-in-the-nation offshore wind crew transfer training facility.

The Union of Greek Shipowners (UGS) announced its acceptance as member to the Arctic Economic Council (AEC), the independent organization acting as the primary forum for interaction between the Arctic Council and the wider circumpolar and non-Arctic business communities.“Greek shipowners, who are hands-on operators and control 20% of the total world tonnage in deadweight and about 50% of the total European Union fleet, are primarily involved in cross trading activities carrying cargoes between third countries and their vessels are among the first to have navigated through the Arctic Sea route”, the President of the UGS,  Theodore Veniamis noted.Welcoming the UGS to the AEC, Mr.

Representatives of the eight Arctic States and six indigenous Permanent Participant organizations, as well as the Arctic Council’s six  Working Groups and more than thirty Observers, met in Rovaniemi, Finland  last week. The Council focused its thematic discussion on biodiversity in the Arctic and welcomed updates from the six Working Groups, two Task Forces, and one Expert Group, as well as interventions from Observers. During the biodiversity discussion Working Groups presented their ongoing efforts to advance biodiversity conservation, inform policy, and engage the public.In addition, Iceland presented a preliminary plan for their upcoming Chairmanship program (2019-2021).Ambassador Aleksi Härkönen…

Finland is a traditional marine tech hub, with almost 90 company members in the Finnish Maritime Industries association. While the country has a storied maritime history across many sectors, based on geographic locale, it’s Arctic and ice marine technology is second to none, and it’s hoping the U.S. Coast Guard is taking notice.The Finnish maritime industry is hoping to get involved in developing the new icebreakers for the U.S. Coast Guard polar icebreaker program. Ulla Lainio…

U.S. President Donald Trump may be open to forming an international coalition to grapple with Chinese trade issues, his top economic adviser said on Monday, adding that it remained unclear whether the proposed U.S. tariffs on China would eventually materialize. Asked whether Trump would consider seeking the support of European nations, Japan and others, White House National Economic Council Director Larry Kudlow told CNBC: "The president is amenable to that. He's not necessarily out soliciting support yet, but he is amenable."   Reporting by Susan Heavey and Doina Chiacu

Accounting for almost one-fourth of total Danish exports, Blue Denmark is Denmark's most important export sector. A total of almost 100,000 persons are employed in Blue Denmark. ​A new report drawn up by the Economic Council of the Labour Movement for the Danish Maritime Authority shows that Blue Denmark still holds a strong position. According to the report, Blue Denmark exports worth DKK 250 billion a year, corresponding to 22.4 per cent of total exports. In terms of productivity, especially the Shipping and Marine Equipment sectors are experiencing positive developments. Though these sectors were hit hard by the crisis in 2009, they have in recent years regained what was lost and witnessed an annual productivity growth of 2.5 and 7.8 per cent…

A recent seminar held March 7 and 8 in Porvoo, Finland, saw Finnish companies Arctia and Lamor Corporation present the results of the IMOR (Ice Management & Oil Recovery) project, which seeks to enhance oil recovery in ice conditions. The oil recovery seminar, arranged by icebreaking services provider Arctia in collaboration with oil spill response specialist Lamor, was opened by the company’s respective CEOs, Tero Vauraste and Fred Larsen. In his speech, Vauraste stated that oil recovery is a key part of Arctia’s range of services.

A meeting of the Arctic Economic Council (AEC) was held in Saint Petersburg on the premises of SCF Arctic, a subsidiary of Sovcomflot Group (PAO Sovcomflot), on 7-8 February 2017. The meeting was attended by business community representatives from Russia, Finland, Norway, Denmark, Sweden, Canada, and the USA, as well as several organizations of indigenous peoples of the Arctic: Gwich'in Council International, Aleut International Association, Arctic Athabaskan Council, Inuit Circumpolar Association, and RAIPON (Russian Association of Indigenous Peoples of the North). This event was the first ever meeting held by the AEC in the Russian Federation.

First luxury cruise sailed Northwest Passage in Aug-Sept; Voyage will be repeated next summer. A surge in Arctic tourism is bringing ever bigger cruise ships to the formerly isolated, ice-bound region, prompting calls for a clamp-down to prevent Titanic-style accidents and the pollution of fragile eco-systems. Arctic nations should consider limiting the size of vessels and ban the use of heavy fuel oil in the region, industry players said, after a first luxury cruise ship sailed safely through Canada's Northwest Passage this summer. The route, which connects the Atlantic and Pacific Oceans via the Arctic, was once clogged with icebergs but is now ice-free in summer due to global warming.

The report "Employment and production in Blue Denmark 2015" was published today, providing updated information on Denmark’s vibrant maritime industries. For the second time, the Economic Council of the Labour Movement has drawn up a report on employment and production in Blue Denmark for the Danish Maritime Authority. This year, the report is based on national accounts figures until 2011 and figures on production and value added until 2014, therefore offering a more updated picture than the one given in last year's report, which was based on 2009 figures.

The White House is drafting sweeping regulations to further weaken the U.S. trade embargo on Cuba that would ease restrictions on U.S. companies and make it safer for Americans to travel there, U.S. government sources said on Thursday. The regulations could be announced as soon as Friday. U.S. companies would be allowed to establish offices in Cuba for the first time in more than half a century, according to a draft of the new rules seen by Reuters. The regulations make it easier for airlines and cruise ships to import parts and technology to improve safety in Cuba; loosen restrictions on software exports; and allow authorized companies to establish subsidiaries with Cuba, possibly via joint ventures with Cuban firms such as state telecommunications monopoly Etecsa.

Edison Chouest’s Fairweather, LLC lessens Arctic risk while increasing efficiencies in a challenging environment. As interest in offshore commerce in the Arctic increases, key components of any successful operation in this theatre include logistics, assets, and of course, a healthy dose of experience while operating in cold weather environments. To that end, Fairweather LLC’s Arctic operations include the Deadhorse Aviation Center (DAC). Strategically located at Prudhoe Bay, DAC provides oil companies and their suppliers with an aviation command center to manage both onshore operations and Outer Continental Shelf (OCS) exploration and production activities on the Arctic Ocean and Beaufort Sea.

The Port of Halifax has joined the Port of Hamburg Marketing organization (HHM) as its first member from North America. The universal ports of Halifax and Hamburg are linked by Transatlantic trade and the cruise business. With its internationally active marketing organisation, Hamburg as a port and logistics base offers the Port of Halifax optimal conditions and an ideal marketing platform for building up contacts with shipping companies and shippers in trade and industry. Geoffrey Machum…