The Aldegar Canal Crisis and the ensuing global economic downturn became a quasi-watershed moment for numerous structures within Lodamun, most notably the Harrington Company. As the sole entity responsible for trade into and out of Lodamun alongside smaller shipping firms, the company was forced to respond to the crisis with a degree of immediacy it had never exercised before. Although when compared to numerous other nations impacted by the crisis (be it directly or indirectly), Lodamun was more than equipped to “ride out the storm indefinitely”, the situation confirmed to officials within both the HC and the Federal Government that (1) the work initiated to rebuild Lodamun’s merchant navy via the HC was timely and (2) more work was needed towards ensuring Lodamun’s relative exposure to global trade shocks of the canal crisis’ nature could be reduced/contained. Speaking at a press conference at the HC’s headquarters in Harrington, Merchant-General Agatha McClelland stated that subsequent meetings with Secretary of the Treasury Dr Phineas Sinkler had resulted in a commitment to increase the Harrington Company’s budget to “enhance its operational capacity.” According to MG McClelland, this enhancement of operational capacity is largely geared towards the procurement of additional vessels. Of the major lessons learned from the canal crisis, the Harrington Company has noted that its continued dependence of private-sector entities continues to be a major concern for the relative sustainability and independence of its operations. Around 65% of maritime traffic both leaving and entering Lodamun is managed through small to medium-sized maritime/shipping firms, most of which are either incorporated and based in other territories or incorporated in Lodamun but based in other territories.
During the canal crisis, the Harrington Company in some instances had to rely on said private-sector firms who, in response to the situation, hiked prices. At the time, Merchant-General William Hanlon (now former President William Hanlon), lamented the HC’s dependence on private-sector entities recognising the relative control/power they maintained over the nation’s exports and imports. “It is therefore of grave importance that the Harrington Company focus on scaling its operations to reduce its dependence on private-sector, third parties to aid in moving Lodamese shipping,” Hanlon wrote in a memo which made its way through the company and the Department of Commerce and Industry. According to McClelland, with a commitment from the Treasury Department, the Harrington Company began the process of restructuring its shipbuilding programme. Concurrently, the ships operated by the HC are made domestically, in shipyards selected by the firm following an intense evaluation process managed by the HC’s procurement unit alongside its Engineering and Research Bureau. Ships are primarily made on a case-by-case basis owing to budgetary constraints, which vessels largely being constructed with the intent of operating between specific routes. There are five (5) LNG tankers which move natural gas from Kalistan/Lourenne and into Lodamun for processing in Berkwaki, whilst an additional five (5) bulk carriers move rare earth minerals from Vascania to Lodamun. According to MG McClelland, as economies and global demand grow, it is becoming increasingly difficult to predict the needs of the nation’s importers as well as its exporters and thus the company would undoubtedly need to enhance shipbuilding to prevent a “shipping deficit” which could potentially send them into the hands of private-sector entities.
Although she noted that she could not provide an exact number at the time, the new shipbuilding programme could potentially see the Harrington Company’s fleet increase from 30 ships to around 200, via a long-term shipbuilding schedule. Resting on the Hanlon Administration’s economic agenda, MG McClelland confirmed that the new programme would not reduce the number of ships being constructed by Lodamese shipyards, but would likely avoid depending on in-experienced firms to construct some of the company’s more valuable vessels. The reformed programme will reportedly lean on some of the company’s more established partners for major orders, with foreign contractors potentially being involved alongside domestic contractors. MG McClelland noted that providing “like-minded nations” and clear allies of Lodamun the opportunity to develop the necessary expertise related to shipbuilding through orders from the Harrington Company is a major feature of the new program. “By no means do we intend to outsource orders to foreign nations. The vast majority of the vessels scheduled for construction under this programme will be built in Lodamun, by Lodamese shipyards. This caveat for foreign contractors simply seeks to ensure we remain on time with respect to when we should begin to see these vessels operating under the HC’s flag,” MG Adam McClelland explained. There have been rumours surrounding a potential monopolization/nationalization of the commercial shipping sector within Lodamun, with snippets from a memo originating from Whitehall speaking of the dramatic decision. Although Whitehall Press Secretary Lamar Chavez has rejected the contents of the memo, some within the Lodamese shipping community have expressed concern.