(Roughly) Daily

Posts Tagged ‘container

“Freight mobility and movement, while not a sexy policy issue, is a highly important one”*…

… and a hugely profitable one. Shipping rates, which have contributed to inflation, are coming down– but remain high– and massively profitable for carriers…

The results are in. The container shipping industry earned profits of $58.9 billion in the third quarter, breaking a streak of seven straight record quarters for the sector and further confirmation that the industry’s earnings peak is now firmly in the rear-view, according to industry veteran John McCown.

While the $58.9 billion profit is 22.4% higher than the $48.1 billion profit from last year’s third quarter, it is 6.6% lower than the “mind-altering” $63.7 billion earned in this year’s second quarter, making for a slight sequential earnings downturn that is expected to continue in the months and quarters ahead as aggregate overall pricing in the sector continues to ease, McCown said in his latest container shipping quarterly report

Throughout the pandemic, container shipping has benefitted from significant price increases across most lanes as strong consumer demand combined with widespread port congestion drove freight rates to records.

“The sharp upturn in the quarterly bottom line performance of the container shipping industry over the last two years is one of the most pronounced performance changes ever by an overall industry,” McCown writes. “It comes on the heels of results in the more than ten years following the financial crisis and preceding the pandemic that results in a negative overall bottom line. The container shipping industry has literally gone from being at the bottom related to overall industry performance to being at the top related to overall industry performance.”

McCown attempts to put the container shipping’s recent performance into perspective by comparing the industry’s profits to FANG, an acronym he uses for Facebook, Amazon, Netflix and Google.

“Container shipping industry profits were 14% higher than total FANG profits in 4Q21, 103% higher than FANG profits in 1Q22 and 145% higher than FANG profits in 2Q22. For 3Q22, that gap has expanded even more as container shipping industry profits have swelled to being 158% above total FANG profits.”…

The invisible behemoth– container shipping, from @MikeSchuler.

Bill Lipinski

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As we contemplate containers, we might recall that it was on this date in 1860 that the slave ship Erie was sold at government auction at Red Hook, Brooklyn:

The ship was sold, after being captured and impounded by the US Government, for enslaving and importing Africans, a business banned by the federal government under the Piracy Law of 1820, which followed The Slave Trade Act of 1794, two steps in the USA’s long, slow process of devolving and banning the slave trade (the shipping of captured people) and slavery. Slavery was finally banned in 1865.  The case of the ERIE was chosen by a US Attorney, a judge, and by President Lincoln himself to signal a major change in policy on slavery and their commitment to end it.

The owner and captain of the Erie, Nathaniel Gordon of Maine, did not get off free as was usually the case. He was tried and found guilty of running a slave ship – and the Piracy Law of 1820 said the punishment was execution. Gordon’s supporters, including members of Congress and even friends of President Lincoln, sought a presidential pardon; but Abraham Lincoln refused due to his conviction that a point about slavery needed to be made with the ERIE and Captain Gordon.

Captain Gordon was distressed, in jail, and attempted suicide. He was resuscitated and was hanged at the Tombs in Manhattan and became the first – and only – importer of slaves to be executed for the crime in the USA. Soon after Gordon’s execution, Abraham Lincoln presented his first draft of the Emancipation Proclamation. Several months later, the Proclamation was finalized, followed by the 13th Amendment which abolished slavery.

Slaver Captain Arrested – Ship Sold at Auction in Red Hook – 1860

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Written by (Roughly) Daily

December 5, 2022 at 1:00 am

“Pam, this is from corporate. How many times have I told you that there is a special filing cabinet for things from corporate? Called the waste paper basket!”*…

The subject of this essay emerged by chance. I was researching the history of the U.S. passport, and had spent weeks at the National Archives, struggling through thousands of reels of unindexed microfilm records of 19th-century diplomatic correspondence; then I arrived at the records for 1906. That year, the State Department adopted a numerical filing system. Suddenly, every American diplomatic office began using the same number for passport correspondence, with decimal numbers subdividing issues and cases. Rather than scrolling through microfilm images of bound pages organized chronologically, I could go straight to passport-relevant information that had been gathered in one place.

I soon discovered that I had Elihu Root to thank for making my research easier. A lawyer whose clients included Andrew Carnegie, Root became secretary of state in 1905. But not long after he arrived, the prominent corporate lawyer described himself as “a man trying to conduct the business of a large metropolitan law-firm in the office of a village squire.” The department’s record-keeping practices contributed to his frustration. As was then common in American offices, clerks used press books or copybooks to store incoming and outgoing correspondence in chronologically ordered bound volumes with limited indexing. For Root, the breaking point came when a request for a handful of letters resulted in several bulky volumes appearing on his desk. His response was swift: he demanded that a vertical filing system be adopted; soon the department was using a numerical subject-based filing system housed in filing cabinets.

The shift from bound volumes to filing systems is a milestone in the history of classification; the contemporaneous shift to vertical filing cabinets is a milestone in the history of storage…

It is easy to dismiss the object: a rectilinear stack of four drawers, usually made of metal. With suitable understatement, one design historian has noted that “manufacturers did not address the subject of style with regard to filing units.” The lack of style figures into the filing cabinet’s seeming banality. It is not considered inventive or original; it is simply there, especially in 20th-century office spaces; and this ubiquity, along with the absence of style, perhaps paradoxically contributes to the easy acceptance of its presence, which rarely causes comment…

But if it appears to be banal and pervasive, it cannot be so easily ignored. The filing cabinet does not just store paper; it stores information; and because the modern world depends upon and is indeed defined by information, the filing cabinet must be recognized as critical to the expansion of modernity. In recent years scholars and critics have paid increasing attention to the filing systems used to store and retrieve information critical to government and capitalism, particularly information about people — case dossiers, identification photographs, credit reports, et al. But the focus on filing systems ignores the places where files are stored. Could capitalism, surveillance, and governance have developed in the 20th century without filing cabinets? Of course, but only if there had been another way to store and circulate paper efficiently. The filing cabinet was critical to the infrastructure of 20th-century nation states and financial systems; and, like most infrastructure, it is often overlooked or forgotten, and the labor associated with it minimized or ignored.

The vertical filing cabinet was invented in the United States in the 1890s, and quickly became a fixture throughout North America and around the world. It spread globally because it provided a way to store large amounts of paper so that individual sheets could be retrieved easily. The technique of using drawers for storing a sheet of paper on its long edge was significant because loose papers cannot stand upright on their own. Put another way, the filing cabinet technology enabled loose paper to stand on edge so that more sheets could be stored in less space but still be accessed with minimal difficulty. It allowed loose papers to do the work of paperwork…

The filing cabinet had at least two inventors — and likely several others who remain lost to the historical record. The current accepted version attributes the invention to the Library Bureau, the Boston-based company founded in 1876 by Melvil Dewey, inventor of the eponymous decimal system of library classification. Although the Library Bureau would proudly claim the invention, critical developments happened elsewhere. It was the secretary of a charity organization based in Buffalo, New York, a man identified as Dr. Nathaniel Rosenau, who provided the initial impetus for construction of a vertical filing cabinet. Inspired by the use of cabinets to store index cards on their edges, Rosenau sought a bigger container for papers.

In 1892, he took his idea to the Library Bureau’s Chicago office, which built a prototype. But no matter the inventor, the turn of the 20th century saw the filing cabinet develop as a part of the rapid growth of an office equipment industry in which dozens of companies manufactured practically identical products with little respect for the hundreds of patents issued for products and parts. To underscore their uniqueness and modernity, this industry explicitly labeled its products “equipment,” “appliances,” and “machines” — not furniture. And it made these products indispensable to offices, and thus helped to constitute the office as a “modern” workspace. The office with a vertical filing cabinet was decidedly not a 19th-century office…

The filing cabinet was critical to the information infrastructure of the 20th-century; like most infrastructure, it was usually overlooked– an oversight that Craig Robertson (@craig2robertson) rectifies: “The Filing Cabinet.”

* “Michael Scott,” The Office (Pilot episode)

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As we savor storage, we might spare a thought for Malcolm Purcell McLean; he died on this date in 2001. A transportation entrepreneur, he parlayed his experience as a trucker into the development of the modern shipping container— which revolutionized transport and international trade in the second half of the twentieth century. Containerization led to a significant reduction in the cost of freight transportation by eliminating the need for repeated handling of individual pieces of cargo, and also improved reliability, reduced cargo theft, and cut inventory costs (thus, working capital needs) by shortening transit time.

When McLean died in 1987, then Secretary of Transportation Norm Minetta said:

Malcom revolutionized the maritime industry in the 20th century. His idea for modernizing the loading and unloading of ships, which was previously conducted in much the same way the ancient Phoenicians did 3,000 years ago, has resulted in much safer and less-expensive transport of goods, faster delivery, and better service. We owe so much to a man of vision, “the father of containerization,” Malcolm P. McLean.

In an editorial shortly after his death, the Baltimore Sun wrote that “he ranks next to Robert Fulton as the greatest revolutionary in the history of maritime trade,” and Forbes Magazine called McLean “one of the few men who changed the world.” On the morning of McLean’s funeral, container ships around the world blew their whistles in his honor.

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