A conglomerate is a combination of multiple business entities operating in different industries under one corporate group involving a parent company and many subsidiaries. A conglomerate is a multi-industry company. Conglomerates are large and multinational. Conglomerates were popular in the 1960s due to a combination of low interest rates and a repeating bear-bull market, which allowed the conglomerates to buy companies in leveraged buyouts, sometimes at temporarily deflated values. Famous examples from the 1960s include Ling-Temco-Vought, ITT Corporation, Litton Industries, Teledyne; because of low interest on the loans, the overall return on investment of the conglomerate appeared to grow. The conglomerate had a better ability to borrow in the money market, or capital market, than the smaller firm at their community bank. For many years this was enough to make the company's stock price rise, as companies were valued on their return on investment; the aggressive nature of the conglomerators themselves was enough to make many investors, who saw a "powerful" and unstoppable force in business, buy their stock.
High stock prices allowed them to raise more loans, based on the value of their stock, thereby buy more companies. This led to a chain reaction, which allowed them to grow rapidly. However, all of this growth was somewhat illusory and when interest rates rose to offset inflation, conglomerate profits fell. Investors noticed that the companies inside the conglomerate were growing no faster than before they were purchased, whereas the rationale for buying a company was that "synergies" would provide efficiency. By the late 1960s they were shunned by the market, a major sell-off of their shares ensued. To keep the companies going, many conglomerates were forced to shed the industries they had purchased, by the mid-1970s most had been reduced to shells; the conglomerate fad was subsequently replaced by newer ideas like focusing on a company's core competency. In other cases, conglomerates are formed for genuine interests of diversification rather than manipulation of paper return on investment. Companies with this orientation would only make acquisitions or start new branches in other sectors when they believed this would increase profitability or stability by sharing risks.
Flush with cash during the 1980s, General Electric moved into financing and financial services, which in 2005 accounted for about 45% of the company's net earnings. GE owned a minority interest in NBCUniversal, which owns the NBC television network and several other cable networks. In some ways GE is the opposite of the "typical" 1960s conglomerate in that the company was not leveraged, when interest rates went up they were able to turn this to their advantage, it was less expensive to lease from GE than buy new equipment using loans. United Technologies has proven to be a successful conglomerate. With the spread of mutual funds, investors could more obtain diversification by owning a small slice of many companies in a fund rather than owning shares in a conglomerate. Another example of a successful conglomerate is Warren Buffett's Berkshire Hathaway, a holding company which used surplus capital from its insurance subsidiaries to invest in a variety of manufacturing and service businesses; the end of the First World War caused a brief economic crisis in Weimar Germany, permitting entrepreneurs to buy businesses at rock-bottom prices.
The most successful, Hugo Stinnes, established the most powerful private economic conglomerate in 1920s Europe – Stinnes Enterprises – which embraced sectors as diverse as manufacturing, shipbuilding, hotels and other enterprises. The best known British conglomerate was Hanson plc, it followed a rather different timescale than the U. S. examples mentioned above, as it was founded in 1964 and ceased to be a conglomerate when it split itself into four separate listed companies between 1995 and 1997. In Hong Kong, some of the well-known conglomerates include Jardine Matheson, Swire Group, C K Hutchison Whampoa, Sino Group, Swire Group Started by Liverpool natives the Swire family, which controls a wide range of businesses, including property, beverages and trading. Jardine Matheson operates businesses in the fields of property, trading and hotels. C K Hutchison Whampoa: finance, telecommunication, real estate, hotels Sino Group: Kerry Logistics, Universal Studios Singapore, Shangri-LaIn Japan, a different model of conglomerate, the keiretsu, evolved.
Whereas the Western model of conglomerate consists of a single corporation with multiple subsidiaries controlled by that corporation, the companies in a keiretsu are linked by interlocking shareholdings and a central role of a bank. Mitsui, Sumitomo are some of Japan's best known keiretsu, reaching from automobile manufacturing to the production of electronics such as televisions. While not a keiretsu, Sony is an example of a modern Japanese conglomerate with operations in consumer electronics, video games, the music industry and film production and distribution, financial services, telecommunications. In China, many of the country's conglomerates are state-owned enterprises, but there
CGU plc was a large insurance group, created by the merger of Commercial Union and General Accident in 1998. The Company was listed on the London Stock Exchange, it merged with Norwich Union in 2000 to form CGNU plc renamed Aviva plc. The Company was created by the 1998 merger of General Accident. Commercial Union was established following a conflagration in London's dockland in 1861, known as the Great Tooley Street Fire, which destroyed a number of warehouses and wharves along the River Thames as a result of which the fire insurance companies were hit by a series of massive claims, they increased their fire insurance rates so that a group of local merchants and brokers decided to form their own company. This became known as the Commercial Union Assurance Company Ltd, it purchased the Hand in Hand Fire & Life Insurance Society, the world's oldest fire insurance company, in 1905 and The Ocean Accident and Guarantee Corporation Ltd. in 1910 and it continued to grow by further acquisitions. General Accident was a financial services firm formed by several mergers and acquisitions over several years.
The General Accident and Employers' Liability Assurance Association Ltd. was founded in Perth, Scotland in 1885. It became the General Accident Assurance Corporation Ltd. in 1891. General Accident acquired Yorkshire Insurance Company Ltd. in 1967. All general insurance business was relocated to Perth, with York becoming the centre for the new firm's life assurance and pensions business. General Accident acquired Stevenage-based Provident Mutual Life Assurance Association in 1995, merging it with the GA Life and Pensions business as Provident Mutual Life Assurance Ltd. York became Stevenage of all pensions business. Aviva reintroduced the General Accident brand in April 2013; the new General Accident brand is aimed at customers. The Company merged with Norwich Union in 2000 to form CGNU plc renamed Aviva plc. In the US, the CGU casualty and property businesses were purchased by White Mountains Insurance Group.
John Brown & Company
John Brown and Company of Clydebank was a Scottish marine engineering and shipbuilding firm. It built many notable and world-famous ships including RMS Lusitania, HMS Hood, HMS Repulse, RMS Queen Mary, RMS Queen Elizabeth and the Queen Elizabeth 2. At its height, from 1900 to the 1950s, it was one of the most regarded, internationally famous, shipbuilding companies in the world; however thereafter, along with other UK shipbuilders, John Brown's found it difficult to compete with the emerging shipyards in Eastern Europe and the far East. In 1968 John Brown's merged with other Clydeside shipyards to form the Upper Clyde Shipbuilders consortium, but that collapsed in 1971; the company withdrew from shipbuilding but its engineering arm remained successful in the manufacture of industrial gas turbines. In 1986 it became a wholly owned subsidiary of Trafalgar House, which in 1996 was taken over by Kvaerner; the latter closed the Clydebank engineering works in 2000. Marathon Manufacturing Company bought the Clydebank shipyard from UCS and used it to build oil rig platforms for the North Sea oil industry.
Union Industrielle d'Entreprise bought the yard in 1980 and closed it in 2001. Two brothers — James and George Thomson, who had worked for the engineer Robert Napier — founded the engineering and shipbuilding company J&G Thomson; the brothers founded the Clyde Bank Foundry in Anderston in 1847. They opened the Clyde Bank Iron Shipyard at Cessnock, Govan, in 1851 and launched their first ship, SS Jackal, in 1852, they established a reputation in building prestigious passenger ships, building SS Jura for Cunard in 1854 and the record breaking SS Russia in 1867. Several of the ships they built were bought by the Confederacy for blockade running in the American Civil War, including the CSS Robert E. Lee and the Fingal, converted into the ironclad Atlanta; the brothers separated their business association in 1850 and, after an acrimonious split, George took over the shipbuilding end of the association. James Thomas started a new business. George Thomson died in 1866, followed in 1870 by his brother James.
They were succeeded by the sons of the younger brother George, called James Rodger Thomson and George Paul Thomson. Faced with the compulsory purchase of their shipyard by the Clyde Navigation Trust, they established a new Clyde Bank Iron Shipyard further downriver at the Barns o' Clyde, near the village of Dalmuir, in 1871; this site at the confluence of the tributary River Cart with the River Clyde, at Newshot Island, allowed large ships to be launched. The brothers soon moved their iron engineering works to the same site; the connection to the area was so complete that James Rodger Thomson became the first Provost of Clydebank. Despite intermittent financial difficulties the company developed a reputation based on engineering quality and innovation; the rapid growth of the shipyard and its ancillary works, the building of housing for the workers, resulted in the formation of a new town which took its name from that of the shipyard which gave birth to it — Clydebank. In 1899 the steelmaker John Brown and Company of Sheffield bought J&G Thomson's Clydebank yard for £923,255 3s 3d.
John Brown was born in Sheffield in the son of a slater. At the age of 14, unwilling to follow his father's plans for him to become a draper, he obtained a position as an apprentice with Earle Horton & Co; the company subsequently entered the steel business and at the age of 21, John Brown with the backing of his father and uncle obtained a bank loan for £500 to enable him to become the company's sales agent. He was so successful, he made enough money to set up the Atlas Steel Works. In 1848 Brown developed and patented the conical spring buffer for railway carriages, successful. With a growing reputation and fortune he moved to a larger site in 1856, he began to make his own iron from iron ore, rather than buying it, in 1858 adopted the Bessemer process for producing steel. These moves all proved successful and lucrative, in 1861 he started supplying steel rails to the expanding railway industry, his next move was to examine the iron cladding used on French warships. He decided that he could do better, built a steel rolling mill that, in 1863, was the first to roll 12-inch armour plate for warships.
By 1867 his iron cladding was being used on the majority of Royal Navy warships. By his workforce had grown to over 4,000 and his company's annual turnover was £1 million. Despite this success, Brown was finding it difficult working with the two partners and shareholders he took into the company in 1859. William Bragge was an engineer, John Devonshire Ellis came from a family of successful brass founders in Birmingham; as well contributing a patented design for creating compound iron plate faced with steel, Ellis brought with him his expertise and ability in running a large company. Together, the three partners created a limited company. Brown resigned from the company in 1871. In subsequent years he started several new business ventures. Brown died impoverished in 1896, aged 80; the company Brown had set up with his partners, John Brown & Company, continued under the management of Ellis and his two sons. In 1899 it bought the Clydebank shipyard from J & G Thomson, embarked on a new phase in its history, as a shipbuilder.
In the early 1900s the company innovated marine engineering technology through the development of the Brown-Curtis turbine, developed and patented by the U. S. company International Curtis Marine Turbine Co. T
The Dartford-Thurrock River Crossing known as the Dartford Crossing and until 1991 the Dartford Tunnel, is a major road crossing of the River Thames in England, carrying the A282 road between Dartford in Kent to the south with Thurrock in Essex to the north. It consists of the cable-stayed Queen Elizabeth II Bridge; the only fixed road crossing of the Thames east of Greater London, it is the busiest estuarial crossing in the United Kingdom, with an average daily use of over 130,000 vehicles. It opened in stages: the west tunnel in 1963, the east tunnel in 1980 and the bridge in 1991; the crossing, although not designated a motorway, is considered part of the M25 motorway's route, using the tunnels northbound and bridge southbound. Described as one of the most important road crossings in Britain, it suffers from heavy traffic and congestion; the crossing's development started in the late 1930s, but was interrupted due to the Second World War and resumed in the 1950s. The original tunnel catered for a single lane of traffic in each direction, but rising traffic levels required the second tunnel to be built.
The M25 connected to the tunnels at both ends when completed in 1986, this increased traffic put pressure on the tunnels' capacity. A Private Finance Initiative scheme was started in 1988 to build the bridge; the combined crossing now handles four lanes of traffic in each direction. The crossing had always been tolled, from 1 April 2003 this became a charge, though since 2008 it has been free from 10 pm to 6 am. An automatic number plate recognition charging scheme named the "Dart Charge" began in November 2014; as a result, the booths on the Kent side were removed and the charge is now only payable online. A residents' scheme is available, offering discounts for people living near the crossing; the crossing spans the River Thames between Dartford, Kent, to the south and Thurrock, Essex, to the north. It is about 20 miles east outside the Greater London boundary; the two tunnels are 1,430 metres long, while the cable-stayed bridge is 137 metres high with a main span of 450 metres. A 50 miles per hour speed limit is in place in both directions.
The rail line High Speed 1, between St Pancras and Ebbsfleet International Stations, passes under the crossing approach roads on the north side of the river, at a near right angle. The design capacity is 135,000 vehicles per day, but in practice the crossing carries around 160,000, it has been described by the Highways Agency as "a vital transport link for the national and South East economies", by the former Secretary of State for Transport, Patrick McLoughlin, as "a crucial part of the country's strategic road network", by the local Thurrock Council as "one of Europe's most used crossings and complex traffic management systems". It is signed as a major destination on London's orbital route, the M25, though the crossing and its approach road are an all-purpose road, allowing traffic prohibited from motorways to use it. Southbound traffic crosses the four-lane bridge, while northbound traffic uses both of the two-lane road tunnels; the bridge can be closed due to maintenance. On these occasions, traffic uses the tunnels in both directions.
The next nearest vehicle crossings to the west of Dartford are the Woolwich Ferry and the Blackwall Tunnel, both well within East London. When the bridge is closed in high winds and for maintenance, no convenient diversion exists through London for the higher-limit southbound vehicles; those over 5.03 metres are diverted around the far side of the M25. A number of new crossings have been proposed as relief for the Dartford Crossing; the proposed Thames Gateway Bridge to the west was given planning permission by Transport for London in December 2004, but was cancelled in November 2008 when Boris Johnson became Mayor of London. Johnson subsequently proposed the Gallions Reach Ferry, a ferry crossing in the same location, as an alternative; the Lower Thames Crossing is a proposed tunnel to the east between Shorne and South Ockendon, Essex. Thurrock Council suggest. A public consultation on the scheme ended in March 2016, with the route announced in April 2017, though Highways England do not expect to start construction before 2026.
A free-flow electronic charging system called Dart Charge began in November 2014 based on automatic number plate recognition. The charge can be paid online or phone in advance or by midnight the day after crossing, but can no longer be paid in cash at the site since the old toll booths have been removed. However, cash payments are accepted at some Payzone shops. Reminder signs on approaches to the crossing say "Dart charge. Pay by midnight tomorrow." Charges run between 6 am and 10 pm and this is indicated on overhead-gantry signs. Daily charges for the crossing since October 2018 are: Various categories of vehicles are exempt from the charge, including emergency services vehicles, military vehicles and those exempt from Vehicle Excise Duty on the grounds of disability; the charges vary according to the type of vehicle. Motorcycles are free but there are standard charges for cars, two-axle goods vehicles and larger vehicles with more than two axles. Drivers who fail to pay the charge are issued with a penalty charge notice.
There are no signs warning of penalty charges. Since 2008, a local residents' scheme gives 50 crossings to car drivers resident in the Dartford and Thurrock council areas for an annual registration fee of £10, with additional crossings at 20p each. On 1 March 2014, this scheme was extended to include owned two-axle goods vehicles. A further option was introduced giving unlimited crossings for £20 annua
The pound sterling known as the pound and less referred to as sterling, is the official currency of the United Kingdom, Guernsey, the Isle of Man, South Georgia and the South Sandwich Islands, the British Antarctic Territory, Tristan da Cunha. It is subdivided into 100 pence. A number of nations that do not use sterling have currencies called the pound. Sterling is the third most-traded currency in the foreign exchange market, after the United States dollar, the euro. Together with those two currencies and the Chinese yuan, it forms the basket of currencies which calculate the value of IMF special drawing rights. Sterling is the third most-held reserve currency in global reserves; the British Crown dependencies of Guernsey and the Isle of Man produce their own local issues of sterling which are considered equivalent to UK sterling in their respective regions. The pound sterling is used in Gibraltar, the Falkland Islands, Saint Helena and Ascension Island in Saint Helena and Tristan da Cunha; the Bank of England is the central bank for the pound sterling, issuing its own coins and banknotes, regulating issuance of banknotes by private banks in Scotland and Northern Ireland.
Banknotes issued by other jurisdictions are not regulated by the Bank of England. The full official name pound sterling, is used in formal contexts and when it is necessary to distinguish the United Kingdom currency from other currencies with the same name. Otherwise the term pound is used; the currency name is sometimes abbreviated to just sterling in the wholesale financial markets, but not when referring to specific amounts. The abbreviations "ster." and "stg." are sometimes used. The term "British pound" is sometimes incorrectly used in less formal contexts, it is not an official name of the currency; the exchange rate of the pound sterling against the US dollar is referred to as "cable" in the wholesale foreign exchange markets. The origins of this term are attributed to the fact that in the 1800s, the GBP/USD exchange rate was transmitted via transatlantic cable. Forex traders of GBP/USD are sometimes referred to as "cable dealers". GBP/USD is now the only currency pair with its own name in the foreign exchange markets, after IEP/USD, known as "wire" in the forward FX markets, no longer exists after the Irish Pound was replaced by the euro in 1999.
There is apparent convergence of opinion regarding the origin of the term "pound sterling", toward its derivation from the name of a small Norman silver coin, away from its association with Easterlings or other etymologies. Hence, the Oxford English Dictionary state that the "most plausible" etymology is derivation from the Old English steorra for "star" with the added diminutive suffix "-ling", to mean "little star" and to refer to a silver penny of the English Normans; as another established source notes, the compound expression was derived: However, the perceived narrow window of the issuance of this coin, the fact that coin designs changed in the period in question, led Philip Grierson to reject this in favour of a more complex theory. Another argument that the Hanseatic League was the origin for both the origin of its definition and manufacture, in its name is that the German name for the Baltic is "Ost See", or "East Sea", from this the Baltic merchants were called "Osterlings", or "Easterlings".
In 1260, Henry III granted them a charter of protection and land for their Kontor, the Steelyard of London, which by the 1340s was called "Easterlings Hall", or Esterlingeshalle. Because the League's money was not debased like that of England, English traders stipulated to be paid in pounds of the "Easterlings", contracted to "'sterling". For further discussion of the etymology of "sterling", see sterling silver; the currency sign for the pound is £, written with a single cross-bar, though a version with a double cross-bar is sometimes seen. This symbol derives from medieval Latin documents; the ISO 4217 currency code is GBP, formed from "GB", the ISO 3166-1 alpha-2 code for the United Kingdom, the first letter of "pound". It does not stand for "Great Britain Pound" or "Great British Pound"; the abbreviation "UKP" is used but this is non-standard because the ISO 3166 country code for the United Kingdom is GB. The Crown dependencies use their own codes: GGP, JEP and IMP. Stocks are traded in pence, so traders may refer to pence sterling, GBX, when listing stock prices.
A common slang term for the pound sterling or pound is quid, singular and plural, except in the common phrase "quids in!". The term may have come via Italian immigrants from "scudo", the name for a number of coins used in Italy until the 19th century.
Dartford is the principal town in the Borough of Dartford, England. It is located 18 miles south-east of Central London, is situated adjacent to the London Borough of Bexley to its west. To its north, across the Thames estuary, is Thurrock in Essex, which can be reached via the Dartford Crossing; the town centre lies in a valley through which the River Darent flows, where the old road from London to Dover crossed: hence the name, from Darent + ford. Dartford became a market town in medieval times and, although today it is principally a commuter town for Greater London, it has a long history of religious and cultural importance, it is an important rail hub. Dartford is twinned with Hanau in Gravelines in France. Dartford lies within the area known as the London Basin; the low-lying marsh to the north of the town consists of London Clay, the alluvium brought down by the two rivers—the Darent and the Cray—whose confluence is in this area. The higher land on which the town stands, through which the narrow Darent valley runs, consists of chalk surmounted by the Blackheath Beds of sand and gravel.
As a human settlement, Dartford became established as a river crossing-point with the coming of the Romans. As a result, the town's main road pattern makes the shape of letter'T'; the Dartford Marshes to the north, the proximity of Crayford in the London Borough of Bexley to the west, mean that the town's growth is to the south and east. Wilmington is contiguous with the town to the south. Within the town boundaries there are several distinct areas: the town centre around the parish church and along the High Street; the open spaces are Central Park, alongside the river. Like most of the United Kingdom, Dartford has an oceanic climate. In prehistoric times, the first people appeared in the Dartford area around 250,000 years ago: a tribe of prehistoric hunter-gatherers whose exemplar is called Swanscombe Man. Many other archaeological investigations have revealed a good picture of occupation of the district with important finds from the Stone Age, the Bronze Age and the Iron Age; when the Romans engineered the Dover to London road, it was necessary to cross the River Darent by ford, giving the settlement its name.
Roman villas were built along the Darent Valley, at Noviomagus, close by. The Saxons may have established the first settlement. Dartford manor is mentioned in the Domesday Book, compiled after the Norman conquest, it was owned by the king. During the medieval period Dartford was an important waypoint for pilgrims and travellers en route to Canterbury and the Continent, various religious orders established themselves in the area. In the 12th century the Knights Templar had possession of the manor of Dartford. In the 14th century, a priory was established here, two groups of friars—the Dominicans and the Franciscans—built hospitals here for the care of the sick. At this time the town became a important market town. Wat Tyler, of Peasants' Revolt fame, might well have been a local hero, although three other towns in Kent all claim and there are reasons to doubt the strength of Tyler's connection to Dartford, though the existence of a town centre public house named after him could give credence to Dartford's claim.
Dartford, cannot claim a monopoly on public houses named after Tyler. It is probable that Dartford was a key meeting point early in the Peasants' Revolt with a detachment of Essex rebels marching south to join Kentish rebels at Dartford before accompanying them to Rochester and Canterbury in the first week of June 1381. Although lacking a leader, Kentishmen had assembled at Dartford around 5 June through a sense of county solidarity at the mistreatment of Robert Belling, a man claimed as a serf by Sir Simon Burley. Burley had abused his royal court connections to invoke the arrest of Belling and, despite a compromise being proposed by bailiffs in Gravesend, continued to demand the impossible £300 of silver for Belling's release. Having left for Rochester and Canterbury on 5 June, the rebels passed back through Dartford, swollen in number, a week on 12 June en route for London. In the 15th century, two kings of England became part of the town's history. Henry V marched through Dartford in November 1415 with his troops after fighting the French at the Battle of Agincourt.
In March 1452, Duke of York, camped at the Brent with ten thousand men, waiting for a confrontation with King Henry VI. The Duke surrendered to the king in Dartford; the place of the camp is marked today by Dartford. The 16th century saw significant changes to the hitherto agrarian basis of the market in Dartford, as new industries began to take shape; the priory was destroyed in 1538 during the Dissolution of the Monasteries and a new manor house was subsequently constructed by King Henry VIII. In 1545, Henry held a series of meetings of his Privy Council in the town, from 21 to 25 June 1545 Dartford was the seat
An estuary is a enclosed coastal body of brackish water with one or more rivers or streams flowing into it, with a free connection to the open sea. Estuaries form a transition zone between river environments and maritime environments, they are subject both to marine influences—such as tides and the influx of saline water—and to riverine influences—such as flows of fresh water and sediment. The mixing of sea water and fresh water provide high levels of nutrients both in the water column and in sediment, making estuaries among the most productive natural habitats in the world. Most existing estuaries formed during the Holocene epoch with the flooding of river-eroded or glacially scoured valleys when the sea level began to rise about 10,000–12,000 years ago. Estuaries are classified according to their geomorphological features or to water-circulation patterns, they can have many different names, such as bays, lagoons, inlets, or sounds, although some of these water bodies do not meet the above definition of an estuary and may be saline.
The banks of many estuaries are amongst the most populated areas of the world, with about 60% of the world's population living along estuaries and the coast. As a result, many estuaries suffer degradation from a variety of factors including: sedimentation from soil erosion from deforestation and other poor farming practices; the word "estuary" is derived from the Latin word aestuarium meaning tidal inlet of the sea, which in itself is derived from the term aestus, meaning tide. There have been many definitions proposed to describe an estuary; the most accepted definition is: "a semi-enclosed coastal body of water, which has a free connection with the open sea, within which sea water is measurably diluted with freshwater derived from land drainage". However, this definition excludes a number of coastal water bodies such as coastal lagoons and brackish seas. A more comprehensive definition of an estuary is "a semi-enclosed body of water connected to the sea as far as the tidal limit or the salt intrusion limit and receiving freshwater runoff.
This broad definition includes fjords, river mouths, tidal creeks. An estuary is a dynamic ecosystem having a connection to the open sea through which the sea water enters with the rhythm of the tides; the sea water entering the estuary streams. The pattern of dilution varies between different estuaries and depends on the volume of fresh water, the tidal range, the extent of evaporation of the water in the estuary. Drowned river valleys are known as coastal plain estuaries. In places where the sea level is rising relative to the land, sea water progressively penetrates into river valleys and the topography of the estuary remains similar to that of a river valley; this is the most common type of estuary in temperate climates. Well-studied estuaries include the Severn Estuary in the United Kingdom and the Ems Dollard along the Dutch-German border; the width-to-depth ratio of these estuaries is large, appearing wedge-shaped in the inner part and broadening and deepening seaward. Water depths exceed 30 m.
Examples of this type of estuary in the U. S. are the Hudson River, Chesapeake Bay, Delaware Bay along the Mid-Atlantic coast, Galveston Bay and Tampa Bay along the Gulf Coast. Bar-built estuaries are found in place where the deposition of sediment has kept pace with rising sea level so that the estuaries are shallow and separated from the sea by sand spits or barrier islands, they are common in tropical and subtropical locations. These estuaries are semi-isolated from ocean waters by barrier beaches. Formation of barrier beaches encloses the estuary, with only narrow inlets allowing contact with the ocean waters. Bar-built estuaries develop on sloping plains located along tectonically stable edges of continents and marginal sea coasts, they are extensive along the Atlantic and Gulf coasts of the U. S. in areas with active coastal deposition of sediments and where tidal ranges are less than 4 m. The barrier beaches that enclose bar-built estuaries have been developed in several ways: building up of offshore bars by wave action, in which sand from the sea floor is deposited in elongated bars parallel to the shoreline, reworking of sediment discharge from rivers by wave and wind action into beaches, overwash flats, dunes, engulfment of mainland beach ridges due to sea level rise and resulting in the breaching of the ridges and flooding of the coastal lowlands, forming shallow lagoons, elongation of barrier spits from the erosion of headlands due to the action of longshore currents, with the spits growing in the direction of the littoral drift.
Barrier beaches form in shallow water and are parallel to the shoreline, resulting in long, narrow estuaries. The average water depth is less than 5 m, exceeds 10 m. Examples of bar-built estuaries are Barnegat Bay, New Jersey. Fjords were formed where pleistocene glaciers deepened and widened existing river valleys so that they become U-shaped in cross s