Areas of Focus
Higher fuel, logistics and labor costs, natural disasters and the increasing trend toward larger ships have today’s container shipping industry rethinking how it does business. Suddenly, offshoring to Asia does not seem as attractive as it used to be, and shippers are considering shifting their supply chains to Latin American countries. Having manufacturers closer to the U.S. could be a boon for the economy. But for this model to be successful, the proper infrastructure must be in place to support it. With the widening of the Panama Canal expected to be complete by 2014, ports along the East Coast are engaged in a race to be ready to accommodate larger ships. But is this the best strategy?
To understand where the shipping industry is headed, it’s important to recognize its past. Read the article in its entirety from the Atlanta Business Chronicle.