Because of inherent drift, inertial navigation is inherently suited only to fast vehicles that get to where they're going in just a few minutes or hours, e.g., planes and missiles. Cargo ships do not qualify. It is best combined with GPS to "flywheel" through outages (e.g., vehicles in tunnels) and so it can be automatically recalibrated whenever GPS is available.
Besides LORAN-C, there used to be another low frequency radio navigation system even better suited for global shipping: Omega. It operated on even lower frequencies, in the 10-14 kHz (yes, kHz) range, and had worldwide reach unlike LORAN-C which was only regional. It was shut down in 1997.