The rebuilding of the U.S. shipping industry is facing a labor shortage of 300,000 workers, including welders, electricians, and other highly paid skilled positions.

This was stated on Monday by JPMorgan Chase CEO Jamie Dimon. His remarks coincide with the announcement of “a $24 million investment by JPMorgan to bolster shipbuilding and marine manufacturing at the historic Philadelphia Navy Yard.”

This disbursement includes $18 million in loans and investments and another $6 million in grants. Part of these resources will be used to expand a submarine component manufacturing and assembly plant, which is expected to create 450 permanent jobs.

Adding to this challenge posed by the labor shortage is the fact that the United States currently builds less than 1% of the world’s new commercial ships. Furthermore, the U.S.-flagged merchant fleet has shrunk to fewer than 190 vessels, far below the nearly 3,000 that operated in the 1960s.

In this scenario, technical training programs could offer a solution, allowing workers without university degrees to gain practical experience while earning a salary and being integrated into the shipping sector.

M.Pino

Source: mundomaritimo.cl

(Reference image source: Elijah Mears on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada The United States needs approximately 300,000 workers to rebuild its shipping industry apareció primero en Bitfinance.

The Development Bank of Latin America and the Caribbean (CAF) announced the creation of the Venezuela Recovery and Reconstruction Fund, which will begin with a seed capital of $1 million.

This amount is in addition to the $300,000 allocated by the organization as humanitarian aid to assist the population after the earthquakes of June 24. The priorities are to respond to the urgent needs in the country, and to carry out recovery and reconstruction after the natural disaster.

This is “a mechanism designed to gather and channel public, private, and international community contributions toward priority needs” following the earthquakes that struck on Wednesday, June 24.

In this regard, the Fund “will allow for contributions from governments, international organizations, companies, foundations, individuals, and other partners, pooling them under a common framework for administration and accountability, and directing them toward the initiatives defined and prioritized by the Government of Venezuela.”

Sergio Díaz-Granados, Executive President of CAF, stated that the mechanism was designed to adapt to the different stages of the response, with immediate attention in the first stage, “through humanitarian aid, essential supplies, and support for the institutions in charge of the emergency. Subsequently, the rehabilitation of critical services in areas such as health, water and sanitation, energy, education, and connectivity; and finally, recovery and resilience, with a focus on early reconstruction, the restoration of livelihoods, and reducing vulnerability to future events.”

M.Pino

Source: caf

(Reference image source: Barthelemy de Mazenod on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada CAF announces the Venezuela recovery and reconstruction fund apareció primero en Bitfinance.

U.S. Energy Secretary Chris Wright visited the oil fields Chevron operates in Venezuela on Thursday, February 12, and indicated that the company can increase production to 300,000 barrels per day.

According to Wright, “there is no doubt” that the oil company can increase production to that amount. “It’s about making the two agreements, political and economic, as smooth as possible between our countries,” he told the state-run television channel Venezolana de Televisión (VTV).

The Washington envoy toured the facilities of the plants in the Orinoco Oil Belt alongside the acting president, Delcy Rodríguez, and a delegation from the oil industry.

The area is key, as it “covers 55,314 square kilometers and is located south of the states of Guárico, Anzoátegui, Monagas, and Delta Amacuro (east)” and, according to the state-owned PDVSA, “contains 87 % of Venezuela’s reserves, making it ‘the largest crude oil reserve in the world’.”

M.Pino

Source: primicias

(Reference image source: Mihai 👑 on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Chevron can increase oil production in Venezuela to 300,000 barrels per day apareció primero en Bitfinance.

Chevron, the main partner of Venezuelan state-owned oil company PDVSA, plans to increase its crude oil exports to the United States from 100,000 to 300,000 barrels per day.

To date, Chevron “has chartered about a dozen tankers to increase exports and reduce accumulated stockpiles at its projects since December.”

According to sources close to the oil company, the figure projected for March “represents a significant increase compared to the 100,000 bpd shipped in December and exceeds the approximately 230,000 bpd that the company has dispatched so far this month.”

M.Pino

Source: gbm

(Reference image source: Adem Percem on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Chevron to increase Venezuelan oil exports to the US apareció primero en Bitfinance.