Attacks against small tankers off South East Asia's coasts caused a rise in global ship hijackings, up to 21 in 2014 from 12 in 2013, despite piracy at sea falling to its lowest level in eight years, the International Chamber of Commerce International Maritime Bureau (IMB) has revealed. Pirates took 442 crew members hostage, compared with 304 in 2013.
Year-over-year import cargo volume at the nation's major retail container ports is expected to continue to rise during most of the first half of 2015 despite significant congestion still impacting West Coast ports, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Despite ships being by far the most efficient form of transport, there is growing concern about climate change, the environmental state of the world's oceans and the air quality close to major shipping routes and ports which has led to ever more stringent legislation on emissions to both sea and air.
Container shipping profitability is expected to improve in 2015, despite record vessel deliveries, driven by lower unit costs, according to the latest edition of the Container Forecaster, published by shipping consultancy Drewry.
When the much-anticipated expansion of the Panama Canal is completed late next year, cargo ships the size of aircraft carriers will ferry goods from Latin America and Asia directly to East Coast ports and back. These ships - up to two-and-a-half times bigger than those currently allowed - will uproot trade patterns developed over the last century and will affect nearly every sector of the U.S. economy.
The latest news, analysis, services and systems regarding ocean transportation and its impact on global supply chains. Today’s companies are transporting and delivering container shipments in a more efficient manner than ever before using new services and technologies that provide information en route - allowing them to stay ahead of the competition in their industries. As ocean cargo services continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies are using ocean shipping solutions to power their supply chains.
Subscribe to our Daily Newsletter!
Timely, incisive articles delivered directly to your inbox.