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The voyage was a test of an autonomous ship under AUTOSHIP, an EU-funded program to develop new technologies for navigating large vessels. The consortium brought together entities from academia and industry, including Kongsberg Maritime, the Norwegian giant that has been conducting deep research and development (R&D) on autonomous shipping. The trip marked a pivotal advancement in developing autonomous technology for shipping, which still faces many hurdles before it is ready for primetime. "Uniquely for autonomous technology, the hazards are hidden for the mariner by the sea. "Learning via mistake in a cargo ship environment can be costly, it can be dangerous," said J.C. Renshaw, head of supply chain consulting at Savills North America.
Persons: Markus Laurinen, Laurinen, Ville, SHI, Denmark's DNV, Leo McLeman, McLeman, J.C, Renshaw Organizations: Kongsberg Maritime, CNBC, Kongsberg Maritime's VP, Korea's Samsung Heavy Industry, Samsung, International Maritime Organization, Hydrographic Office, Savills Locations: Norway, EU, Norwegian, Kongsberg, America, Africa
Why health insurance is poised to make inflation jump
  + stars: | 2023-09-17 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +2 min
Suriyapong Thongsawang | Moment | Getty ImagesWhy health insurance inflation is hard to measureHealth insurance prices are a tricky thing for economists to quantify. Instead, the agency measures health insurance inflation indirectly based partly on health insurers' profits. It appears that health insurance prices measured in the CPI "will start rebounding" again, said Andrew Hunter, deputy chief U.S. economist at Capital Economics. How health insurance profits affect inflationEarly in the Covid-19 pandemic, health insurers' profits jumped. Why health insurance inflation mattersThe U.S. Federal Reserve raised interest rates aggressively starting early last year to rein in persistently high inflation.
Persons: Suriyapong, Andrew Hunter, Mark Zandi, Zandi, Jerome Powell Organizations: BLS, Capital Economics, Health, Moody's, Consumers, U.S . Federal Reserve, Federal Reserve, Federal
I spent much of yesterday parsing through pages of data on where Russian oil is heading and how much buyers are paying for barrels. Today we're unpacking two less obvious observations about Russian oil. That said, researchers pointed out that most of the Western companies still facilitating Russian oil shipments don't actually abide by the $60-a-barrel price cap that the EU and G-7 imposed. Ships carrying Russian oil, according to Argus, indeed make a premium for doing what they do, but that premium has shrunk over the last month. In effect, the "sanctions premium" isn't what it was a month ago.
Suriyapong Thongsawang | Moment | Getty ImagesHow long economic recessions lastIn 2021, the committee confirmed that the pandemic downturn lasted just two months, from February 2020 to April 2020, "which makes it the shortest U.S. recession on record." That economic bust was cut short by massive stimulus from the government. Federal Reserve economists are predicting that there will be a mild recession later this year, "with a recovery over the subsequent two years," according to the minutes of the Fed's March 21-22 meeting. Indeed, the longest recession in recent decades was the 2008 financial crisis, which slogged on for 18 months. Cutting rates usually helps the economy rebound from downturns.
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