The Pacific Ocean is a major contributor to the world economy and particularly to those nations its waters directly touch. It provides low-cost sea transportation between East and West, extensive fishing grounds, offshore oil and gas fields, minerals, and sand and gravel for the construction industry. In 1996, over 60% of the world's fish catch came from the Pacific Ocean. Exploitation of offshore oil and gas reserves is playing an ever-increasing role in the energy supplies of the US, Australia, NZ, China, and Peru. The high cost of recovering offshore oil and gas, combined with the wide swings in world prices for oil since 1985, has led to fluctuations in new drillings.
Transportation
Pacific Ocean
Ports and terminals:
Bangkok (Thailand), Hong Kong (China), Kao-hsiung (Taiwan), Los
Angeles (US), Manila (Philippines), Pusan (South Korea), San
Francisco (US), Seattle (US), Shanghai (China), Singapore, Sydney
(Australia), Vladivostok (Russia), Wellington (NZ), Yokohama (Japan)
Transportation - note:
Inside Passage offers protected waters from southeast Alaska to Puget Sound (Washington state); the International Maritime Bureau reports the territorial waters of littoral states and offshore waters in the South China Sea as high risk for piracy and armed robbery against ships; numerous commercial vessels have been attacked and hijacked both at anchor and while underway; hijacked vessels are often disguised and cargoes stolen; crew and passengers are often held for ransom, murdered, or cast adrift
Transnational Issues
Pacific Ocean
Disputes - international:
some maritime disputes (see littoral states)
This page was last updated on 18 December, 2008