Evergreen faces consequences for 2022 Ever Forward Chesapeake Bay grounding
Good morning! Happy World Typing Day 🧑💻 We hope your fingers are flying across the keys today as you celebrate this special, long-awaited, and global occasion. Cheers to a world of words and digits!
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On March 13, 2022, Evergreen’s Ever Forward containership ran aground in the Chesapeake Bay after its distracted captain missed his turn. The Coast Guard launched an investigation shortly thereafter and concluded that the captain was on his cell phone when the error was made. After a month of pushing and prodding, the nearly 2,000-foot containership was finally set back afloat with the assistance of barges, tugboats, and dredging. All those efforts may have freed the ship - but they also nearly destroyed the bay’s natural oyster bars.
Oysters play a critical role in the bay’s ecosystem. Oysters are filter feeders, which means that they filter the water and remove excess nutrients, algae, and other particles. This helps to improve the overall water quality in Chesapeake Bay. For these reasons, The Maryland Department of Natural Resources (DNR) is imposing a license requirement that will cost the Ever Forward owner $676,200 to salvage the habitat of the keystone species.
Check out today’s featured article from G Captain to read about The Maryland Board of Public Works’ decision to enforce a nearly $700,000 fee upon Evergreen for the restoration of oysters’ aquatic habitats in the Chesapeake Bay. ☕️
Featured Article:
Evergreen Ordered to Pay for ‘Ever Forward’ Grounding’s Impact on Chesapeake Bay Oysters | G Captain
“The Maryland Board of Public Works has approved a wetlands license that requires the owner of the container ship Ever Forward containership to pay nearly $700,000 to help mitigate impacts to aquatic habitats, namely oysters, from last year’s grounding and salvage operation in the Chesapeake Bay.”
Electric Vehicles & Stocks 🔋
Tesla suffered a 65% valuation loss in 2022
Tesla, once seen as the “prized jewel” of electric vehicles, is now suffering from a plunge of 65% in stock value. Weakening demand and logistical problems seem to be the root cause of the growing problem. However, despite these issues, Tesla remains the world's most valuable automaker. Tesla missed the mark on market expectations in the fourth quarter, sending stocks tumbling and on par with rival automaker Ford Motor Co. Once valued at more than $1 trillion, the $60 billion tumble brought the company’s stock to the bottom of the benchmark S&P 500 index early this week. Company stock fell is $105 and Wall Street is speculating that it will continue to drop.
The stock value reflects the perceived value of the company and when the stock value is high, it means that investors believe that the company is performing well and is likely to continue to do so in the future. This can attract more investors and help to raise capital for the company. Therefore, Tesla's stock value is closely watched by the media and the general public, and it can be seen as an indicator of the overall health of the company and the state of the economy. As such, it can have a psychological impact on consumer confidence and investor sentiment.
Federal Funding & Repairs 💰
Federal Highway Administration announces Large Bridge Project Grants
In a move that introduced the largest dedicated investment in highway bridges since the highway system was in development, the US Department of Transportation’s Federal Highway Administration (FHWA) has announced the distribution of nearly $40 billion over the upcoming five years. This is the first round of Large Bridge Project Grants included in President Joe Biden’s Bipartisan Infrastructure Law’s competitive Bridge Investment Program.
Semi-trucks are likely to benefit from these investments in major ways. Repaired bridges will be able to support the weight of these vehicles, which are much heavier than passenger cars. This will allow big rigs to travel safely and efficiently across the country, without having to worry about avoiding bridges that may not be able to support their weight. Investments in highway bridge repair will also help to reduce the risk of accidents and injuries involving big rigs. Structurally deficient bridges are more likely to fail or collapse, which can be dangerous for both truck drivers and other vehicles on the road. By repairing these bridges, the risk of such incidents can be significantly reduced.
GET SMART 🧠
Ramp up that brain power for these advanced topics…
😄 Improve relationships with customers utilizing last-mile logistics. Last-mile logistics refers to the movement of goods from a transportation hub to the final delivery destination. This can be a residential address, a place of business, or any other location where the goods are intended to be received. It’s typically the final step in the supply chain, and it plays a crucial role in ensuring that goods are delivered to customers in a timely and efficient manner. It can involve the use of various transportation methods, including trucks, vans, bikes, or even drones, depending on the specifics of the delivery.
🎩 Companies shouldn’t sleep on demand planning. Demand planning is the process of forecasting the demand for a product or service in the future. In the supply chain industry, demand planning is a critical aspect of managing inventory and ensuring that the right products are available at the right time to meet customer demand. It involves analyzing data on past sales, market trends, and other relevant factors to make predictions about future demand. Effective demand planning can help a company to avoid overstocking or running out of inventory, which can lead to lost sales or customer dissatisfaction.
🛰️ AFRL is investing in new tech for logistics in space. The Air Force Research Laboratory (AFRL) is a research and development organization within the United States Air Force. It is responsible for leading the discovery, development, and integration of advanced technologies for the USAF and other branches of the military. "Rendezvous, proximity operations, and docking," or RPOD, is of the laboratory’s priority focus - analyzing critical components of space situational awareness.
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for November 28, 2024, from iLevel Logistics Inc.