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The international shipping industry is responsible for transporting approximately 90% of world trade. Shipping is the lifeblood of a global economy. Intercontinental trade, the bulk transport of raw materials, and the import/export of affordable food and manufactured goods would not be possible without shipping. Ships are technically sophisticated, high value assets (larger hi-tech vessels can cost over U.S. $200 million to build). The operation of merchant ships generates an estimated annual income of over half a trillion U.S. Dollars in freight rates.

Maritime Industry Articles:

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The ideas that could transform the shipping industry

For centuries, the world’s seas and oceans have been used to trade goods and services. Today, the shipping industry remains a crucial cog in the global economy.

Outlook 2020: Shipping Sails to New Challenges and Innovation

The shipping industry faces some very significant challenges over the coming years, but has a number of reasons to be cheerful as it enters a new decade, according to BDO.