June 19

North Korean authorities use trolleys to recapture transport market share

first_img SHARE News NewsEconomy North Korean authorities use trolleys to recapture transport market share Proposal to shift “general markets” to “specialized markets” finds little support among N. Korean leaders Facebook Twitter By Daily NK – 2018.02.19 5:02pm AvatarDaily NKQuestions or comments about this article? Contact us at [email protected] North Korea Market Price Update: June 8, 2021 (Rice and USD Exchange Rate Only) RELATED ARTICLESMORE FROM AUTHOR US dollar and Chinese reminbi plummet against North Korean won once again North Korean leader Kim Jong Un and his wife Ri Sol Ju ride a trolley through Pyongyang on the night of February 4. On the trolley, Kim emphasized how  the country’s mass transit system improves the lives of the people. Image: Rodong Sinmun News News The number of trolley cars and their hours of operation have expanded in Pyongsong City and across the country. This development has elicited mixed reactions from locals. On the one hand, it represents an improvement for the country’s public transport. On the other hand, some residents are seeing it as a way for the authorities to make more money from the people.  “There’s been a noticeably large jump in the number of trolleys operating in Pyongsong City,” explained an inside source from South Pyongan Province during a telephone call with Daily NK on February 13. “Electricity provision to the number one line has become almost normal since January, resulting in added convenience.”  According to the source, electricity only flows to homes in Pyongsong for three hours per day. However, the trolleys operate from 8am in the morning to 10pm at night, showing that the authorities are strategically distributing electricity. Power failures and service stoppages normally do not extend beyond 30 minutes. “Even just a few years ago, the Pyongsong trolleys suffered from blackouts during rush hour, resulting in a form of transportation paralysis. The cadres and upper class used taxis to travel from our area to Pyongsong Station [about 4 kilometers], but university students and normal residents didn’t have the money to afford it, so many loaded up their bags on their bicycles and traveled into town,” the source explained.For this reason, the improved trolley services come as welcome news to residents without a lot of money. It also serves as a cheap and convenient transport method for the tens of thousands of residents visiting from other areas heading towards Pyongsong’s wholesale market. Due to the added convenience, these improvements are being lauded. However, there are some who have been quick to point the authorities’ financial motives. Private taxis have become powerful market actors for short, medium, and long trips. The trolley improvements can be seen as a way for the authorities to recapture some of the market share.   The authorities are able to kill two birds with one stone: they can use the trolleys as a profit maker and as fodder for political propaganda by touting them as an improvement to the people’s lives.“The trolley system is run by the Public Transport Office, and the cost of a fare is 1,000 KPW, which is approximately 50% of the monthly wage of an average state worker. It’s cheaper than a taxi, but similar to the market rate, so the price isn’t a strong draw for residents,” a separate source in South Pyongan Province said.“The trolleys collect a fee of 1,000 KPW for adults and 500 KPW for children regardless of how far the passenger rides,” the source added. “When you consider the size of transportation flows in Pyongsong, the government is sure to be making a lot of profit from the public trolley system.”   On February 1, Kim Jong Un visited the newly built Pyongyang Electric Trolley Factory, reported by Korean Central News Agency as saying, “These modern facilities have been completed and the supplementary equipment has been brought in, so regular production has begun. The mass transport trolley system should be added to the face of Pyongyang.” Kim Jong Un then rode a trolley in Pyongyang on February 4, proclaiming that it will improve the lives of the people.    last_img read more

October 6

Drewry: Carriers Jostling for Expanded Panama Canal Positions

first_imgCarriers are rushing to start new Asia to US East Coast services ahead of the opening of the wider Panama Canal, but unless carefully managed, they risk losing more of the East Coast freight rate premium, according to UK-based Drewry Shipping Consultants.The USD 5.2 billion project to widen the Panama Canal is nearing completion – to be precise, the Panama Canal Authority (ACP) stated it was 89.8% done as of the end of May – with another important milestone reached earlier this month, the filling of the Atlantic side locks. Filling of the Pacific side locks is now underway, at a rate of 37,000 gallons of water per minute. It is expected to take 90 days.From April next year container ships of up to 13,000 TEU will be able to navigate the Panama Canal, more than doubling the existing maximum size of 5,000 TEU. The opening up of this vital shipping lane to bigger ships will give carriers an extra tool in their box to try and fix the current supply and demand imbalance by providing more trade options in which to cascade ships and deploy newbuildings, Drewry says.In readiness, carriers are starting new Panama-transiting services to build up their customer base. Since the start of the year there have been six new services created for the Asia to US East Coast trade with all but one of them routed via Panama.Part of the allure of the all-water option is the sizeable freight rate premium that carriers can charge, which grew larger during the slowdown on the US West Coast.However, that pricing differential is shrinking now that West Coast operations are normalising and because of all of the additional East Coast capacity.According to Drewry’s Container Freight Rate Insight, in February the average spot rate for a 40ft container from Shanghai to New York was nearly USD 2,800 more expensive than for the same box moving from Shanghai to Los Angeles. By May that gap had shrunk to USD 1,700.While the attraction of higher rates to carriers is obvious, they are also responding to the long-term shift towards the US East Coast. Since January 2013, traffic from Asia to USEC has grown by 26% whereas Asia to USWC volumes have grown much more modestly at around 6%. Asia-US Gulf Coast demand trumps them both, growing at just over 40% but it comes off a very low base and has barely shifted the GC share much beyond 2%, according to Drewry.The US West Coast remains by far the most widely used gateway for Asian container imports but its share is dwindling quite rapidly. At the start of the century the split was more like 84% USWC to 16% USEC but the later coast has nearly doubled its share in 15 years. The transfer of cargo seems to be intensifying too. Since January 2013 the USWC’s share has fallen from 73% to 69%, while the USEC has gained those four percentage points to reach 29%.Up to 10 percent of container traffic to the US from East Asia could shift from West Coast ports to East Coast ports by 2020, according to a new research conducted by The Boston Consulting Group (BCG) and C.H. Robinson.In 2014, about 35 percent of container traffic from East Asia to the US arrived at East Coast ports. According to the report, current growth trends would push that share to 40 percent by 2020 without the canal’s expansion. But with the canal expansion in place, the East Coast’s share could reach 50 percent — a 10 percent increase in market share.Much of the USEC’s recent ascent has come from greater use of Asia to US via Suez Canal services that are able to accommodate larger ships. But that trend is now reversing and Panama Canal loops are all the rage once again as carriers prepare themselves for the expanded Panama Canal.There are currently 25 weekly Asia-USEC services with 16 going via Panama and nine via Suez. When measured in effective capacity (after deductions are made for wayport calls and operational restrictions) that takes into account the smaller size of ships on the Panama route, services via Panama now account for just over half of all the available Asia-USEC slots. In June of last year the Panama services share was around 41%.The latest addition to the Asia-USEC via Panama roster is the TP10 from 2M carriers Maersk and MSC. Interestingly, the TP10 is the first such Panama service of the world’s largest carrier group, the two lines having previously focused on Suez. The CKYHE Alliance (Cosco, K Line, Yang Ming, Hanjin and Evergreen) has the largest share of Asia-USEC via Panama services, but such is their loose arrangement that not all of the carriers are partners on all of the services.There are 37 ships of between 10,000 to 13,000 TEU (mostly at the lower end of the scale) scheduled for delivery before the end of 2017. Many of these newbuilds will find their way into the Asia-USEC trade, thereby inflating both the East Coast and Panama’s share of the Transpacific market.Source: Drewrylast_img read more

August 6

Professional Boxing: Vijender Singh to make his US circuit debut against Mike Sneider

first_imgAdvertisement p3cxNBA Finals | Brooklyn Vs6llWingsuit rodeo📽Sindre Ew7jo( IG: @_aubreyfisher @imraino ) 3tWould you ever consider trying this?😱u7zCan your students do this? 🌚b5uuRoller skating! Powered by Firework We have good news for all the Vijender Singh fans who are waiting for his debut in US circuit. After being out of action for nearly two years, Vijender will face Mike Sneider in his first bout in the US soil on July 13 in New Jersey.Advertisement Image Credits: Outlook IndiaSo far, Vijender is undefeated in his pro career, winning all the ten matches. His last bout was against Ghana’s Ernest Amuzu in Jaipur in 2017, which he won via unanimous decision.Having signed with US-based Top Rank Promotions, Vijender’s first fight was scheduled to take place in April. However, an injury delayed his debut.Advertisement Meanwhile, he took part in the Lok Sabha elections on a Congress ticket from the South Delhi constituency. However, he polled only 13.56% votes and came a distant third behind the incumbent BJP candidate and the AAP candidate.Snider is a veteran in the US pro-boxing circuit and can prove to be a tough hurdle for Vijender to cross. He has a 13-5-3 record and competed in February this year. However, he lost that bout to Tommy Hughes in Chicago via TKO in round five.Advertisement ALSO READ: Vijender Singh talks about the struggles faced by young boxers who want to turn professional Advertisementlast_img read more

August 6

PSG confirm they no longer pursuing de Ligt

first_imgImage Courtesy: Getty ImagesAdvertisement 9lg8hNBA Finals | Brooklyn Vs8jmyWingsuit rodeo📽Sindre E3xck2( IG: @_aubreyfisher @imraino ) 8eblWould you ever consider trying this?😱mCan your students do this? 🌚9b1k3a5Roller skating! Powered by Firework Paris Saint Germain’s new sporting director Leonardo Araújo has confirmed  that they are no longer in the race to sign Matthijs de Ligt.Advertisement Image Courtesy: Getty ImagesFollowing a spectacular campaign for Ajax and Netherlands, de Ligt became one of the hottest targets for European heavyweights this summer window, namely Barcelona, Manchester United and also PSG.However, agent Mino Raiola confirmed that the 19-year old Amsterdam skipper had his heart set on a move to Juventus, agreeing personal terms with the Serie A champions, and also expressed his desire to become a teammate of Turin talisman Ronaldo.Advertisement “I always wanted to be Cristiano Ronaldo” – the Dutch defender spoke to Voetbal International.Leonardo, who recently joined the post of sporting director for the Ligue 1 giants, confirmed that de Ligt will not arrive at Parc des Princes.Advertisement In an interview with French outlet Le Parisien, the 49-year old Brazilian said they will stop pursuing the Ajax center back.“De Ligt will not come to PSG. There was a possibility. He is a great player but it was not a good time to make a big investment.”“We must calm down a little. We don’t have an envelope of €200 million to spend.”“We need a defensive midfielder and maybe a player to complete the central defense. In attack, we have many solutions. It will also be important this season to see young players get on the main team.”“But there is also important data, it should not be hidden: it is financial fair play. The rules and criteria in force must be respected.” he added. Advertisementlast_img read more

August 5

Sea Eagles soar to new highs

first_imgBy Russell Bennett WGFNC – SENIOR GRAND FINAL THE LEADERS   Prior to Saturday, Inverloch Kongwak senior coach Ben Soumilas’…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img