Year in Review: Stories that shaped shipping in 2024 (Part 1)

THE SHIPPING industry has faced a year of remarkable developments, challenges, and milestones. Leadership transitions, critical labour negotiations, and the mounting impacts of climate change have defined the year, alongside a renewed focus on Jamaica’s potential as a global logistics hub.

As we reflect on the past year, this review highlights some of the most impactful moments that shaped the industry in 2024 and set the stage for the coming year.

THE SAJ CELEBRATES 85TH ANNIVERSARY

The Shipping Association of Jamaica (SAJ) marked its 85th anniversary with a series of initiatives that reflect on its legacy and future. Established in 1939 during a time of industrial unrest, the SAJ has evolved from a trade union to a notable force in Jamaican port operations and labour relations.

Celebrations included the distinguished lecture, supported by the European Union’s Global Gateway Initiative, a thanksgiving service, a commemorative supplement in The Gleaner and Jamaica Observer, and a staff event.

SAJ DISTINGUISHED LECTURE

The SAJ’s Distinguished Lecture on November 1 was a defining moment in the local maritime calendar, offering an incisive evaluation of Jamaica’s future as a global logistics hub. Renowned shipping analyst Lars Jensen delivered a keynote address titled ‘Jamaica as a Logistics Hub in a Changing Global Landscape’, where he outlined the opportunities and challenges facing the industry. Among the critical issues discussed were the impact of decarbonisation, intensifying competition among trans-shipment hubs, and shifting trade patterns due to geopolitical tensions. The lecture, hosted at the AC Marriott Hotel as part of the SAJ’s 85th anniversary celebrations, attracted over 200 stakeholders from the public and private sectors.

WILLIAM BROWN ELECTED CSA PRESIDENT

A significant highlight was the election of William Brown as president of the Caribbean Shipping Association (CSA) during its 54th annual general meeting in St Maarten on October 7. Brown, a respected maritime professional with extensive experience, succeeds Marc Sampson, who served as president for three years.

Brown’s tenure comes with high expectations, given his robust track record as chairman and CEO of Cascades Shipping Services and his previous leadership roles, including vice president of the CSA and past president of the SAJ.

CRUISE TOURISM REBOUNDS

The global cruise industry surged in 2023, and 2024 cemented its recovery. Exceeding pre-pandemic performance, the sector achieved a record-breaking global economic impact of US$168.6 billion, a nine-per-cent increase over 2019. Job creation also soared, with the industry supporting 1.6 million positions globally, a 37-per-cent rise since 2019.

ILA STRIKE AND TRADE DISRUPTIONS

Labour issues once again spotlighted the vulnerability of global trade networks. The International Longshoremen’s Association (ILA) concluded a short, but significant strike at the east and Gulf Coast ports in October. While a temporary resolution was reached, the possibility of renewed industrial action looms, with negotiations ongoing for a long-term agreement.

PANAMA CANAL DROUGHT

Another pressing issue was the ongoing impact of climate change on maritime trade routes, demonstrated by the Panama Canal’s struggles with extraordinary drought conditions. After severe constraints on vessel transits and a 29-per-cent drop in throughput during the fiscal year, the canal implemented new measures to optimise water usage and improve operational reliability.

While these efforts mark progress, the long-term sustainability of this critical trade route remains uncertain. Decisions regarding major infrastructure projects, such as a potential new dam, will shape the canal’s ability to withstand future challenges.