U.S. DOT Report Expects Oceanborne Trade Growth

Global oceanborne commerce is expected to continue to grow three to four percent annually over the next several years, according to a new report released by three agencies of the U.S. Department of Transportation. U.S. international waterborne trade, which accounts for about 20 percent of the global total, is also expected to grow at a similar rate. The report, Maritime Trade and Transportation, 1999, is a result of an ongoing cooperative effort by the Bureau of Transportation Statistics, MarAd and the USCG. The report reflectes major trends affecting the industry in the 1990s and devotes considerable attention to the safety and environmental goals of the department, as well as to the critical role of the maritime industry in meeting U.S. national security requirements. Maritime Trade and Transportation, 1999 is available in print and electronic format.