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Spring, 2013 Newsletter - Homepage

As steam replaced sail during the last half of the nineteenth century, a new era of maritime commerce emerged. Freight costs got cheaper and cheaper as steamship cargo capacities grew. At some point, however, the system began to self-destruct. Simply stated, there was a disconnect between the massive cargo capacities of the newest merchant ships and the antiquated process of loading and unloading the cargo itself. It was a full century after steam’s preeminence that the problem was finally solved.

 Reversals of Fortune in the Tea Industry:


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