Less Danger From Shipping?

Offshore sailors always worry about getting run down by ships. The danger is less now than anytime in recent memory. Part of it is because of new technology such as AIS, but much of it is because of economics. There’s just not as much shipping as there used to be. With oil having dropped over $100 a barrel, some 50 mega-tankers around the world are being used solely for storage, as the on-land storage is nearing capacity. And with world trade dropping, international shipping has plunged. Perhaps the best indicator is that for the first time in recorded history the cost has dropped significantly. The cost of shipping an entire 40-ft container from Hong Kong to Rotterdam has dropped from $2,700 last year, as low as $200 this year. What’s more, many ships are being operated at lower speeds to save money on fuel.

Yes, these are different times we’re living in.