Maritime Jobs
Sunday, December 15, 2019

Gross Domestic Product News

In August 2015 General Dynamics NASSCO launched Perla del Caribe, the second ship in a series of natural gas powered containerships for TOTE (Photo: General Dynamics NASSCO)

US Shipyards: Building for America, Jobs for Americans

engaged in shipbuilding and repair. In 2013, the U.S. private shipbuilding and repairing industry directly provided 110,390 jobs – including naval architects, project managers, riggers, welders, painters and a host of suppliers – $9.2 billion in labor income, and $10.7 billion in gross domestic product, or GDP, to the national economy. These are well paying jobs with opportunity for advancement.    Many of these shipyards build not only commercial vessels but also ships used by the U.S. Department of Defense. Case in point: General Dynamics, NASSCO Shipyard in San Diego recently

Photo Port of Houston

Economic Impact of Houston Port

the Greater Houston Partnership’s annual State of the Port event. An economic impact study by Martin Associates determined that public and private marine terminals at the Port of Houston had a statewide economic impact of $265 billion in 2014, which is 16 percent of Texas’ total gross domestic product, Chairman Longoria said. The Martin Associates study shows the port’s economic value to the state since 2011 increased $82 billion, or 45 percent. “The Port of Houston is the leading driver for the greater Houston region for creating jobs and economic opportunity,” Chairman

File photo: Tauri Minogue

US Ocean Economy Sees Large Growth -NOAA

In 2012, U.S. ocean and Great Lakes economy grew much faster than overall GDP   The U.S. ocean economy outpaced the domestic economy between 2011 and 2012, with an increase of $22 billion in gross domestic product, from $321 billion to $343 billion, according to a new National Oceanic and Atmospheric Administration (NOAA) analysis.   Adjusting the figures to remove the effects of inflation, this increase equates to a 10.5 percent rate of growth—more than four times as fast as the U.S. economy as a whole. The report is based on 2012 U.S. national economic statistics released in

Ben Billings (Photo: OMSA)

OMSA Opposes McCain Amendment

vessels, barges, tugs and ferries to the nation’s Jones Act fleet of over 40,000 vessels. According to the U.S. Maritime Administration, the U.S. shipbuilding and repair industry employs more than 400,000 Americans, provides $24 billion in annual wages and accounts for $36 billion in gross domestic product. 

Temples Burma Bagan Plain: Photo CCL

ABB Back in Burma After 20-Years

and sustainable transport developments. This move is fully in line with ABB’s new ‘next level’ strategy, which is to expand into markets and geographies, where we are currently under-represented,” said Frank Duggan, ABB’s Head of Global Markets. 

 Myanmar’s gross domestic product has risen by an annual average of 7.3 percent since 2012, while this year, foreign direct investment is expected to grow 6.8% from $2.7 billion. Over 70 percent of Myanmar’s people do not have access to reliable electricity.
 The World Bank has committed to investing US$1 billion

Irving's shipyard in Halifax is the company's largest (Photo courtesy of Irving Shipbuilding)

Irving Welcomes Mi’kmaq Tradesmen to Halifax Shipyard

and with their direct suppliers and $75 million in employment income. In addition, it has generated $21 million in local, provincial and federal taxes paid, as well as $56 million in consumer spending over a two-year period. Across Canada, the NSPS commitment to date has boosted Canadian gross domestic product (GDP) by $255 million, created more than 3,000 full time equivalent (FTE) positions across Canada (direct and indirect) and generated $187 million worth of employment income in the country over a two-year period. It has also generated more than $139 million worth of consumer spending and

Canada’s Largest Gantry Crane: Seaspan Unveils Name

to its investment in people, processes and equipment,” said Brian. “Once our modernized facilities are operational, Seaspan will begin construction on NSPS work that will create 5,000 direct, indirect and induced jobs over the next 20 years, produce almost $500 million per year in gross domestic product for B.C.’s economy, and mean thousands of young people will get the opportunity for an exciting new career in shipbuilding.” Once complete, the crane will be the biggest of its kind in Canada, towering 80 metres high and spanning 76 metres wide. Assembly, hook-up, testing and

Europe, China Economic News Challenges Shipping Demand

reduces Euro growth forecast as inflation seen to slow Bloomberg reported, The European Commission trimmed its economic growth forecast for the Euro area and predicted low inflation to remain a threat to expansion for at least the next two years.   The 18-nation Euro zone’s gross domestic product will rise 1.7% in 2015, compared with a February prediction of 1.8%, the Brussels-based commission said today. The inflation rate will be 0.8% this year and 1.2% in 2015, both lower than previously forecast and well below the European Central Bank’s target of just below 2%.  

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