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Managing through Challenging Economic Times
With the evolution of business climates, including the 2008-09 global financial downturn, it is interesting to see the many different perspectives, rationales and, indeed, action plans posed by industry experts and analysts.
As witnessed throughout this summer issue of AAPA Seaports Magazine, the input we are receiving is encouraging in that, although this crisis has international and local impact, as we slowly come out of it and cargo starts flowing once again, the ways of doing business will become more structured, targeted, strategic, tactical and at the end of the day (hopefully) result in a better-oiled machine. View PDF Version
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Letter from Ray Venturino
With the evolution of business climates, including the 2008-09 global financial downturn, it is interesting to see the many different perspectives, rationales and, indeed, action plans posed by industry experts and analysts.
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Seaports are Critical to Financial Health
The essential theme for this issue of AAPA Seaports Magazine is about managing through difficult economic times. Here at AAPA, we're keenly aware of the challenges our members are facing, and we are dedicated to researching, developing and sharing resources among our members to enable ports to help reinvigorate the economy and deliver prosperity to the communities and regions they serve.
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Seaports Continuing to Deliver Prosperity
Seaports have long been recognized for their ability to create jobs and generate tax revenues while facilitating the safe and secure movement of cargo. As ports around the world feel the impact of the deepest global recession in decades, there is growing pressure on many port authorities to take bold, dramatic steps toward ensuring that port activity continues to provide jobs and other economic benefits.
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Proactive Measures Have to be Adopted
Each day the global news media highlights the grim economic picture that the world faces, and many economists have agreed that the world is in a recession. Such turbulent economic times have not been seen in many years, and many have drawn similarities between this period and the recession of the early 1900s.
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Seaport Leaders Learn in Managing Response
The importance of communicating with stakeholders and the need to maintain focus on long-term objectives are among leadership lessons that port directors have learned in managing the current economic crisis, according to interviews conducted with a sampling of Western Hemisphere port directors.
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Port Credit Stability Confronts Challenges
When the largest U.S. containerports are seeing 30 percent to 40 percent decreases in monthly cargo volumes and credit markets have frozen with the downgrade of most of the monoline bond insurers and many banks, it's clear that U.S. ports are facing a unique set of economic and credit challenges.
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Economic Realities Beget Opportunities
The economic reality of today presents a challenge that few of us have experienced in our lifetimes. But in challenge is opportunity. It's the opportunity to take a fresh look at how we operate, what is important to our core business, and reestablishing priorities.
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Transportation System Demands Stimulus Aid
In 2007, Martin Associates estimated that U.S. deepwater ports supported more than 13 million jobs throughout the United States and contributed about $3.2 trillion to the national economy. The economic value of this cargo activity represents about 25 percent of the U.S. gross domestic product.
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Necessity is Mother of 'Re-Invention'
When Plato wrote "necessity is the mother of invention" nearly 2,400 years ago, he surely couldn't have known that a twist on this philosophy would be applied to 21st century Western Hemisphere ports. Indeed, when the Greek philosopher wrote The Republic in 380 B.C., there wasn't so much as a thought of the Western Hemisphere's existence.
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Terminal Expansion Moving Forward
In the face of challenges posed by the global economic crisis, container terminal expansion is moving forward at the Port of Lázaro Cárdenas, on Mexico's south-central Pacific Coast, as port officials seek to capitalize upon opportunities to attract a growing share of Asian commerce destined for U.S. markets.
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