Wednesday, 20 February 2013

International Ports Strengthen Ties To Prepare For The Future

As the world’s shipping industry continues to evolve in preparation for the new global economy on the horizon, more and more countries are starting to work together to strengthen their competitive advantages now and in the future. Recently, officials from the Port of Miami, Florida, U.S. were in Rotterdam in the Netherlands, for an industry event to forge more ties with the Port of Rotterdam, which is considered to be the Gateway to Europe.  The Port of Miami just happens to be regarded as the “Gateway to the Americas”, so they have much in common.

The two regions are both in the midst of huge infrastructure investments that will prepare both ports to be in strong positions when the world’s economy gains traction as it heads toward a new prosperous era of global trade in the near future. The way things are progressing, both ports look like they will be ready when the time comes. While in Rotterdam, the Miami delegates went on a tour of the Port of Rotterdam by boat to see for themselves how one of the world's largest ports operates so efficiently and effectively. Needless to say, they were quite impressed and will no doubt take some of the lessons learned back to their port in the United States and look at implementing some of the methods they witnessed, in an effort to streamline their own operation.  

The port of Miami is currently undergoing a massive dredging project, as is the Port of Rotterdam at this time, in an effort to be able to accommodate the ever-growing huge container ships that have already begun to set sail around the world. Also, in Miami, there is work underway to build a tunnel that will connect the Port of Miami directly to the US Interstate Highway Network, at an investment cost of $665 Million. These investments are crucial to establish the Port of Miami’s competitive edge in the future global economy. The Port of Rotterdam is also in the midst of a major expansion project that will facilitate the growth of trade that is expected to come in the near future, particularly when western Europe finally gets their fiscal house in order.

This is just one example of how the shipping industry’s evolution is impacting the global trade circuit by encouraging countries from all corners of the earth to work together to help strengthen each other in order to benefit the global economy as a whole. The new global economy is increasingly becoming more inclusive as more countries and regions emerge as viable consumer markets, that are demonstrating that they are able to make positive contributions to the global economy. There is a new economic world order that is starting to shape up and it is being driven by changes in the shipping industry. Not only have these changes resulted in profitable investment alternatives for investors, but they are also encouraging improvements that are likely to have a lasting, positive effect on the development of the economy; worldwide.


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