Meagan Burgio, Author at Monument Economics Group

Gaza’s Port to Prosperity: Building a Sustainable Future Amidst Conflict

Posted on April 16, 2024 by Meagan Burgio

In Dr. Kent’s second paper in his For the Beauty of Logistics series, he explores a unique setting for port development to serve Gaza: one that seeks to balance Israel’s security needs with Palestinian sovereignty aspirations. The paper presents five port options according to their locations: inside Gaza, on the border, and outside Gaza. The favored option, the South Gaza/Kerem Shalom plan, entails an autonomous Palestinian port to be constructed in Egypt, adjacent to Gaza’s border. This port will be connected to the existing Kerem Shalom border crossing terminal via a dedicated 10-km port truck corridor. Then, Kerem Shalom will be expanded and turned into a logistics hub and special economic zone connected by rail to the West Bank. The chosen port solution not only addresses security concerns, but also holds promise for significant economic improvement, offering hope for Gaza and a stable peace for this war-torn region.

Click here to read the full paper.

The For the Beauty of Logistics series, authored by Dr. Paul Kent, consists of short papers that aim to showcase how the principles of logistics can enable groundbreaking advancements, optimize processes, and revolutionize our understanding of complex systems. The first paper of the series, “From Nobel Laureates to the Cellular Supply Chain: Unveiling Logistics Concepts to Foster Wider Understanding of Scientific Research”, can be accessed here.

Dr. Paul Kent Provides Insight in the Wake of the Key Bridge Collapse

Posted on April 1, 2024 by Meagan Burgio

In the wake of the Key Bridge collapse in the bustling port of Baltimore, many are forecasting what this means for the global supply chain. Governing.com’s Jared Brey, reached out to various industry leaders while reporting on this matter including our own Dr. Paul Kent. Read Dr. Kent’s insights here: Baltimore Presents Another Stress Test for Nation’s Supply Chain (governing.com).

Dr. Paul Kent is Primary Author of Freight and Supply Chain Chapter of the US Bureau of Transportation Statistics Annual Report 2023

Posted on January 9, 2024 by Meagan Burgio

Monument’s Dr. Paul Kent was the primary author of the Freight and Supply Chain chapter of the U.S. Bureau of Transportation Statistics Annual Report 2023. In the 2022 edition, Paul had highlighted a significant development: U.S. East Coast port Asian trade container volumes exceeded U.S. West Coast port Asian trade volumes for the first time. This shift is credited to improvements in the Suez Canal, increased capacity in U.S. East Coast ports for handling larger vessels, and enhanced connectivity with global shipping lines, rendering these ports more competitive than their West Coast counterparts. The 2023 Chapter, posted here, indicates a continuation of this trend, with U.S. East Coast Ports capturing greater market share of the U.S.-Asian trades.

Next year’s data can be intriguing considering the adverse effects of the Panama Canal’s drought conditions leading to reduced vessel transits, and the Israel-Hamas war prompting vessel diversions around the African Cape instead of utilizing the Suez Canal. As reported today in the Journal of Commerce, both Shanghai-New York and Shanghai-Los Angeles container trades are at their highest rates since December 2022. The diversions caused by the Panama Canal constraints and the Israel-Hamas war are likely to contribute to a rise in U.S. West Coast container volumes as shipping lines redirect shipments to U.S. West Coast ports.

One would normally anticipate an increase in freight costs from these diversions, potentially leading to price hikes in retail goods. However, such price increases may be tempered by a flood of new container ships entering the markets, posing a risk of overcapacity in container ships.

The full 2023 Annual Report, which includes data on non-maritime modes and transportation economics, can be found here: Transportation Statistics Annual Report | Bureau of Transportation Statistics (bts.gov)

Monument Gives Back to Local Nonprofits

Posted on December 21, 2023December 21, 2023 by Meagan Burgio

As we look to 2024, the team at Monument Economics Group looks back on 2023 with gratitude. With great appreciation for our clients and our colleagues, MEG continues its tradition of making contributions to local nonprofits that take on the most meaningful work.

In addition to the organizations we’ve long supported, MEG put out a call to all employees to learn of nonprofits they hold dear and has made contributions on their behalves to these organizations. With this additional input, Monument made contributions to the following: So Others Might Eat and DC Scores in Washington, DC; Robin Hood Foundation in New York, NY; Broad Street Ministry in Philadelphia, PA; the Greater Chicago Food Depository in Chicago, IL; and the Arlington Food Assistance Center in Arlington, VA.

All of these organizations make a profound difference in their respective communities by combating hunger, homelessness, unemployment, and poverty, and improving mental and physical health. Monument takes great pride in supporting philanthropic endeavors who do such great work in our communities.

To learn more about these nonprofits:
So Others Might Eat DC Scores Robin Hood Foundation Broad Street Ministry Greater Chicago Food Depository Arlington Food Assistance Center

UPDATE: Federal Court Sentences Former J.P. Morgan Chase Traders to Prison

Posted on August 24, 2023 by Meagan Burgio

On August 22, 2023, Judge Edmond E. Chang sentenced two former precious metals traders at J.P. Morgan Chase for their role in a market manipulation scheme involving tens of thousands of unlawful trading sequences over an eight-year period, resulting in over $10 million in market losses. The U.S. Department of Justice (DOJ) noted in its August 22, 2023, press release:

“Gregg Smith, 59, of Scarsdale, New York, was sentenced to two years in prison and a $50,000 fine. Michael Nowak, 49, of Montclair, New Jersey, was sentenced to one year and one day in prison and a $35,000 fine.”

In connection with its investigation and prosecution of the Defendants, the DOJ hired Monument Economics Group to analyze extensive CME Group precious metals market trading data. The MEG Data Analytics team, led by Adrienne Sexton, assisted in identifying trading patterns, creating trial exhibits showing snapshots of the Defendants’ trading, assisting in the calculation of summary statistics presented at trial, supporting the DOJ trial team along with two of its witnesses, and assisting in the calculation of losses suffered by market participants. Judge Chang referenced trial evidence that MEG assisted with in his August 21, 2023 Order concerning the loss-amount calculations related to the sentencing guidelines:

“[T]he evidence at trial demonstrated repeatedly, when the Defendants placed large, visible orders that created an imbalance with the opposite [side] of the market, frequently the price was pushed to the opposite side – thus filling the orders that the Defendants wanted to fill. The Defendants then cancelled (almost always successfully) the large-side orders. The jury found beyond a reasonable doubt (and the Court agrees with the finding) that the large-side orders were in reality placed with the unconditional intent to cancel them, because the Defendants entered the orders to trick the market into believing that there was a genuine supply or demand represented by the orders—that is, the spoof orders.”

Judge Chang further referenced the trial-evidence sequences MEG assisted with which showed the “super-fast-cancellation clicking that formed the core (and the most colorful part) of the trial evidence of Spoof Orders.”

Dr. Paul Kent is Major Contributor to the Bureau of Transportation Statistics Annual Transportation Statistics Report

Posted on August 3, 2023August 1, 2023 by Meagan Burgio

Earlier this year the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS) issued its 2022 edition of its Transportation Statistics Annual Report. By legislative mandate, BTS is required to address the state of the U.S. transportation system, freight logistics, transportation economics, safety, energy and sustainability, and the state of transportation statistics. COVID-19’s effects on transport modes are covered throughout the report.

Dr. Paul Kent, Monument’s Port and Logistics expert, was the main contributor for the Annual Report’s Chapter 3 — Freight and Supply Chain. Using BTS data, he showed that U.S. East Coast Asian container volumes for the first time exceeded U.S. West Coast Asian freight volumes in 2021, likely due to improved U.S. East Coast connectivity to liner shipping networks, enabling the diversion of some Asian trade volumes from the U.S. West Coast to U.S. East Coast ports. Among Chapter 3’s other highlights:

Nearly 40% of the U.S. gross output in 2020 (valued at about $12.22 trillion) relied on the Nation’s transportation and logistics sector, itself contributing an output of $565 billion;
In terms of freight value, John F. Kennedy International Airport and Chicago airports were ranked as 2020’s top two international freight gateways, with the U.S.-Mexico land border post in Laredo and the Port of Los Angeles ranked 3rd and 4th, respectively;
Trucks transported 12 billion tons in 2019, or 67 percent of total domestic freight volume — about 10 times more than that of rail, the United States’ third-ranked mode by freight volume;
Substantial foreign direct investment in Mexico in 2022, particularly from the nearshoring of U.S. companies, will likely mean an increase in cross border trade flows, with trucking continuing its modal dominance and a shifting of some freight flows from U.S. coastal ports to the U.S.-Mexico border.

Dr. Kent’s chapter can be read here. The entire report is available at https://www.bts.gov/tsar. Also, BTS provides an impressive range of transportation statistics for all transport modes online (https://data.bts.gov/). Data addressing COVID-19’s impact on freight transport are available here: https://lnkd.in/esBJ-JqD