Current Affairs

December 8, 2022

The Last 747

End Of An Era: Final Boeing 747 Rolls Off Assembly Line

by Tyler Durden

Wednesday, Dec 07, 2022 – 08:00 PM

The last Boeing 747 jumbo jet rolled off the production line at the company’s factory in Everett, Washington, on Tuesday night, marking a close to a significant chapter in aviation history. 

Aviation historians call the 747 the original jumbo jet was first produced in 1967. Three years later, Pan Am started flying the double-decker jumbo jet that could haul over 500 passengers worldwide. 

“For more than half a century, tens of thousands of dedicated Boeing employees have designed and built this magnificent airplane that has truly changed the world. We are proud that this plane will continue to fly across the globe for years to come,” Kim Smith, Boeing vice president and general manager, 747 and 767 programs, wrote in a press release. 

Last night, the 1,574th 747 rolled out of the Everett factory. 

The 747 was once the premiere choice of aircraft for airlines and has since been replaced with a twin-engine, wide-body aircraft that is more fuel-efficient. Still, 341 of these jumbos are in use but only as freighters. 

“The 747-8 is an incredibly capable aircraft, with capacity that is unmatched by any other freighter in production,” UPS wrote in a statement in 2020 when Boeing said production of the jet would end in late 2022. 

“With a maximum payload of 307,000 lbs., we use them on long, high-volume routes, connecting Asia, North America, Europe and the Middle East,” the shipper continued. 

The last 747 was sold to air freighter Atlas Air which will use the aircraft to haul goods worldwide. 

https://www.zerohedge.com/markets/end-era-final-boeing-747-rolls-assembly-line

December 7, 2022

Chemical Rail Traffic Update

North American chemical rail traffic fell by 3.2%

North American chemical rail traffic fell by 3.2%

MOSCOW (MRC) — North American chemical rail traffic fell by 3.2% year on year to 40,467 railcar loadings for the week ended 26 November – marking a 10th consecutive decline, according to the latest freight rail data by the Association of American Railroads (AAR).

An increase in Canada was more than offset by declines in the US and Mexico. The four-week average for North American chemical rail traffic was at 45,860 railcar loadings.

Despite the 10th decline in a row, for the first 47 weeks of 2022 ended 26 November North American chemical railcar traffic was still up 1.2% year on year to 2,155,420 railcar loadings.

In the US, chemical railcar loadings represent about 20% of chemical transportation by tonnage, with trucks, barges and pipelines carrying the rest. In Canada, producers rely on rail to ship more than 70% of their products, with some exclusively using rail.

Shipments of chemicals, coal, motor vehicles and parts, nonmetallic minerals, and oil and oil products rose for the first 47 weeks, while shipments in all other freight railcar categories fell.

In related news, the US House of Representatives on Wednesday adopted a resolution aimed at averting a rail strike.

We remind, for the week ending November 19, 2022, total U.S. weekly rail traffic was 491,794 carloads and intermodal units, down 3.2 percent compared with the same week last year. Total carloads for the week ending November 19 were 235,887 carloads, down 0.6 percent compared with the same week in 2021, while U.S. weekly intermodal volume was 255,907 containers and trailers, down 5.6 percent compared to 2021.
mrchub.com

https://www.mrchub.com/news/405321-north-american-chemical-rail-traffic-fell-by-3.2-percent

December 7, 2022

Chemical Rail Traffic Update

North American chemical rail traffic fell by 3.2%

North American chemical rail traffic fell by 3.2%

MOSCOW (MRC) — North American chemical rail traffic fell by 3.2% year on year to 40,467 railcar loadings for the week ended 26 November – marking a 10th consecutive decline, according to the latest freight rail data by the Association of American Railroads (AAR).

An increase in Canada was more than offset by declines in the US and Mexico. The four-week average for North American chemical rail traffic was at 45,860 railcar loadings.

Despite the 10th decline in a row, for the first 47 weeks of 2022 ended 26 November North American chemical railcar traffic was still up 1.2% year on year to 2,155,420 railcar loadings.

In the US, chemical railcar loadings represent about 20% of chemical transportation by tonnage, with trucks, barges and pipelines carrying the rest. In Canada, producers rely on rail to ship more than 70% of their products, with some exclusively using rail.

Shipments of chemicals, coal, motor vehicles and parts, nonmetallic minerals, and oil and oil products rose for the first 47 weeks, while shipments in all other freight railcar categories fell.

In related news, the US House of Representatives on Wednesday adopted a resolution aimed at averting a rail strike.

We remind, for the week ending November 19, 2022, total U.S. weekly rail traffic was 491,794 carloads and intermodal units, down 3.2 percent compared with the same week last year. Total carloads for the week ending November 19 were 235,887 carloads, down 0.6 percent compared with the same week in 2021, while U.S. weekly intermodal volume was 255,907 containers and trailers, down 5.6 percent compared to 2021.
mrchub.com

https://www.mrchub.com/news/405321-north-american-chemical-rail-traffic-fell-by-3.2-percent

December 5, 2022

Cost of Cybercrime

Cybercrime Expected To Skyrocket In Coming Years

by Tyler Durden

Monday, Dec 05, 2022 – 02:45 AM

According to estimates from Statista’s Cybersecurity Outlook, the global cost of cybercrime is expected to surge in the next five years, rising from $8.44 trillion in 2022 to $23.84 trillion by 2027.

Infographic: Cybercrime Expected To Skyrocket in Coming Years | Statista

You will find more infographics at Statista

Cybercrime is defined by Cyber Crime Magazine as the “damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, and reputational harm.”

As more and more people turn online, whether for work or their personal lives, Statista’s Anna Fleck notes that there are more potential opportunities for cyber criminals to exploit. At the same time, attacker techniques are becoming more advanced, with more tools available to help scammers. The coronavirus pandemic saw a particular shift in cyber attacks, as Statista’s Outlook analysts explain:

“The COVID-19 crisis led to many organizations facing more cyberattacks due to the security vulnerability of remote work as well as the shift to virtualized IT environments, such as the infrastructure, data, and network of cloud computing.”

Read more on the costliest cyber attacks here.

https://www.zerohedge.com/technology/cybercrime-expected-skyrocket-coming-years

December 5, 2022

Cost of Cybercrime

Cybercrime Expected To Skyrocket In Coming Years

by Tyler Durden

Monday, Dec 05, 2022 – 02:45 AM

According to estimates from Statista’s Cybersecurity Outlook, the global cost of cybercrime is expected to surge in the next five years, rising from $8.44 trillion in 2022 to $23.84 trillion by 2027.

Infographic: Cybercrime Expected To Skyrocket in Coming Years | Statista

You will find more infographics at Statista

Cybercrime is defined by Cyber Crime Magazine as the “damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, and reputational harm.”

As more and more people turn online, whether for work or their personal lives, Statista’s Anna Fleck notes that there are more potential opportunities for cyber criminals to exploit. At the same time, attacker techniques are becoming more advanced, with more tools available to help scammers. The coronavirus pandemic saw a particular shift in cyber attacks, as Statista’s Outlook analysts explain:

“The COVID-19 crisis led to many organizations facing more cyberattacks due to the security vulnerability of remote work as well as the shift to virtualized IT environments, such as the infrastructure, data, and network of cloud computing.”

Read more on the costliest cyber attacks here.

https://www.zerohedge.com/technology/cybercrime-expected-skyrocket-coming-years