Strategic use of private standards to enhance international competitiveness: Vegetable exports from Kenya and elsewhere

The paper examines how European retailers are using private standards for food safety and,quality as risk management and competitive tools and the strategic responses of leading Kenyan and other developing country supplier/exporters to such standards. Despite measures to harmonize a 'single market', the European fresh produce market is very diverse in terms of consumer preferences, structural dynamics and attention to and enforcement of food safety and other standards. Leading Kenyan fresh produce suppliers have re-positioned themselves at the high end, including 'high care', segments of the market - precisely those that are most demanding in terms of quality assurance and food safety systems. An array of factors have influenced this strategic positioning, including relatively high international freight costs, the emergence of more effective competition in mainstream product lines, relatively low labor costs for produce preparation, and strong market relationships with selected retail chains. To succeed in this demanding market segment, the industry has had to invest substantially in improved production and procurement systems, upgraded pack house facilities, and quality assurance/food safety management systems. (C) 2005 Elsevier Ltd. All rights reserved.

Design, testing, and simulation of fibre composite leaf springs for heavy axle loads

This paper summarizes the design, manufacturing, testing, and finite element analysis (FEA) of glass-fibre-reinforced polyester leaf springs for rail freight vehicles. FEA predictions of load-deflection curves under static loading are presented, together with comparisons with test results. Bending stress distribution at typical load conditions is plotted for the springs. The springs have been mounted on a real wagon and drop tests at tare and full load have been carried out on a purpose-built shaker rig. The transient response of the springs from tests and FEA is presented and discussed.

British railways and the challenge from road haulage: 1919-39

Interwar Britain witnessed the rapid rise of road transport as a serious competitor to the railways. This article examines road–rail competition for freight traffic. It demonstrates that, contrary to previous accounts—which have been highly critical of the railway companies—their failure to prevent rapid loss of traffic to the roads was the inevitable consequence of the regulatory framework under which the railways had been returned to private control in 1921. Given the constraints imposed by this framework, price competition with road hauliers would have further depressed railway company profits. Railway policy thus concentrated on pressing for a revision of the legislative framework governing road–rail competition.

Liquidity effects and FFA returns in the international shipping derivatives market

The study examines the impact of liquidity risk on freight derivatives returns. The Amihud liquidity ratio and bid–ask spreads are utilized to assess the existence of liquidity risk in the freight derivatives market. Other macroeconomic variables are used to control for market risk. Results indicate that liquidity risk is priced and both liquidity measures have a significant role in determining freight derivatives returns. Consistent with expectations, both liquidity measures are found to have positive and significant effects on the returns of freight derivatives. The results have important implications for modeling freight derivatives, and consequently, for trading and risk management purposes.