In 1910, James A. Farrell was an executive at U.S. Steel Corporation, which at that time was the second-largest steel company in the United States. Farrell determined that it would be more cost-effective for U.S. Steel to own its own fleet of freighters to transport steel products rather than chartering cargo space from shipping companies.
Therefore, U.S. Steel founded the Isthmian Steamship Company for the stated reason to mitigate the costs of shipping U.S. Steel’s freight. The company was...
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